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Buying your first property is one of the pinnacle moments in life. It’s stressful, fun and a little intimidating if you don’t know what to do. If you are looking at your first place here are a few things to remember that will help you get a place you can be happy living in.

1. Don’t look for a “value” buy. This may sound completely backwards and it’s important to not pay too much for a place, but we’re not talking about a revenue property. We’re talking about the place you will live in. You are going to come home to this condo or house every day so you need to feel great when you walk through the doorstep. As a friend told me “you want a place you can be productive in.”
2. Don’t buy the best place on the block. This one’s self explanatory and if you can afford to buy the best on the block call me up and let me know what you’re doing for a job.
3. Buy a place close to work and your friends. Time is the only commodity you can’t buy more of so when you can save it you should. If you live close to work and your buddies you won’t spend two hours in rush hour every day.
4. Think about how much space you really need. I live in 480 square feet with my girlfriend and yeah it’s tight, but if you have an open concept kitchen that connects with your living room you can still entertain. You’ll save money buying a smaller place that will let you travel and invest in properties that will actually make you money.
5. Haggle with the banks. Banks never advertise their best rates. Look at ING and lendingtree.com to see competitive rates and then take them to your bank and let them know they have to match them or you’ll go somewhere else. If you have credit issues you’ll have a higher interest rate but at least it will be based off of a lower competitive rate.

Congrats on looking for your first place and remember don’t stretch yourself too much. A huge place is a great thing to have, but a life filled with travel, adventure and fun is a lot more memorable.