Why first-time buyers should be careful when viewing a unique home!

In Clark Fork, Idaho, there is a property known as the Bulbous House. This unique home, built in 1999, is green and curvy outside with a center dome structure and two appendages on each side. Concrete and wire were used to create the 1286-square-foot home, giving it its unique shape. Inside the house is a long tunnel leading to the center dome, which features an open-plan living room and kitchen, three bedrooms, and bathrooms. An additional two bedrooms and bathrooms are found throughout the rest of the structure. Once you look it up, you’ll see that this home is definitely one of a kind.

Unique homes like the Bulbouse house come up on the market occasionally. While they can be fun to view, most real estate experts warn against purchasing such homes because they can be challenging to sell. After all, not everyone wants to live in a handcrafted, dome-shaped home in the woods!

First-time buyers can learn a valuable real estate lesson from these unique homes: consider the long-term implications of the house they are considering buying. When looking at a house, you must consider how it will age and what maintenance issues may arise over time. Will you need to do major renovations before you pay off the mortgage? Do you plan to stay in the property until you’ve paid it off, or do you intend to sell before then?

While no one knows the future, we always advise our first-time buyers to think seriously about these issues before buying. It’s one of the reasons the pre-qualification process can be so helpful for first-time home buyers. After considering the long-term financial commitment you may face by signing a mortgage during pre-qualification, many would-be buyers feel empowered to think more carefully about the property they want to purchase. For example, instead of considering properties at the edge of their borrowing limit, they now realize how much longer it will take to pay it off and look at lower-valued properties that they can pay off faster.

The pre-qualification process is so helpful for first-time buyers. It makes it easier to see what you can afford and empowers you during the buying process to close faster on a home. Whether you’re looking at a typical single-family home or you’ve found a unique home that fits your personality, if you’re pre-qualified for financing, it’s a lot easier to get your offer accepted and buy your house. So visit our website today to find your local PRMI loan advisor and start the pre-qualification process!