Moving raises a number of important questions. This is particularly cumbersome when considering a property to buy rather than rent. For first-time homebuyers, this can be a stressful time. Choosing the right home is quite a burden and it can feel as if you will never be certain of a property’s “rightness” until it’s too late. Many first-time homebuyers struggle to narrow down their list of interests and take the plunge on a home that they are interested in before it leaves the market with another buyer offer. Picking the right home can eat at the nerves, but it doesn’t have to be this hard.

Start months in advance.

When you are planning to buy a home you must start months or even years before you are actually going to put in an offer on a new home. Going to open houses and seeing different house plans will give you a sense of the interior design that suits your interests and needs. This will help you skim through home designs that you like in order to cut out the rest from your search when you are ready to make the move on your perfect property.

For example, the floor plan is an important component of any home, this is a map of the space that your belongings and family will inhabit while living in the home. A home design that incorporates open space, brightly lit rooms with large windows, and an easy flow throughout the home are often the most desirable, but your personal tastes must guide the search through various home plans on the market.

Consider locations as a priority.

The location of your home’s structure is equally important to its house plan. The space in which your home will sit cannot be changed without a sale of the home altogether. Whether you’ve hired a builder to construct a totally new home to suit your customized needs or are buying an existing structure, the environment around it comes as it is. This means searching for homes that fit your commuting needs, offer easy access to shopping centers or supermarkets, and fall within a reasonable distance from clubs and schools.

Considering the needs and expectations of your family in this regard is essential when looking for a new home to call your own. Prioritizing the location of your home is often missed by new homeowners, and they can suffer as a result. Getting this little detail right could make the difference between liking and loving your new home for years to come.

Remember your finances.

Floor plans, real estate agents, and vendors are important when choosing or building a new home for your family. But so too is your financial picture. Remembering to take care of your credit score and current debts in the months leading up to a mortgage loan application. This is essential to getting the best possible deal as a borrower who hopes to tamp down on home loan interest rates. The better positioned your savings account and current revolving debt burden is when you apply for a home loan, the better rate you can expect to receive.

Another great way to reduce your overall burden is to utilize an offset account to minimize the interest-bearing principal of your home loan. Many first-time homebuyers ask “what is an offset account?” This is a relatively little known vehicle that more and more Australians are discovering and taking advantage of. The offset account works like a savings account. You can deposit funds into it as savings and maintain access to the funds while they remain in the offset account.

However, the real power of the offset account is in the “interest” it grants you. While a traditional savings account will accrue interest that is deposited into the account itself, the offset funds negate a portion of the interest on your home loan. This account offsets a portion of your debt by using the account as collateral against the principal loan amount. This means that you can continue to access these funds while technically paying down a portion of your home loan balance at the same time.

Buying a new home is a complete undertaking. This means you will have to stay on top of the market, your personal finances, and the needs of your family all at the same time. But if you do, you will be sure to have a fantastic place to call home for years to come.