Post on 20-Mar-2017
Tips For First – Time HOME Buyers
1. Take Your Time
Relax and take your time shopping around for this major move until you find the home that you’ll love living in for years to come.
2. Buy Less House Than You Can Afford
Look into home buying programs in your state that provide financial assistance to new homebuyers
3. Look Out for Deal Breakers
A roof that needs replacing, a home in a high-risk flood zone, issues with sewer lines and other plumbing, restrictive local zoning rules for home improvements, an electrical system that needs updating
4. Get Your Credit and Finances in Order
Getting your finances in shape will make it easier to qualify for a mortgage and get the lowest rates.
5. Save Up for That Down Payment
Start saving for the down payment as soon as you are thinking about buying a home. And don’t forget you’ll have hefty closing costs to save up for and cover as well.
6. Juggle Difficult Buying Situations
If you’re self-employed, qualifying for a mortgage requires more work than if you’re an employee. Make sure you have your paperwork in order
7. Learn More About a Prospective Home You Want to Buy
When you’ve found a home you’re interested in, you’ll want to learn as much as possible about it before putting in a deposit
8. Beware of Fixer-Uppers
Every home buyer should get a good inspection and be prepared with the responsibilities of working on the house
9. Know How the Home Buying Process Works
When you’re sure you’re ready to buy a home, the first thing you’ll need to do is learn everything you can about the process.
10. Decide Whether Buying a Home Is Worth It
Home buying comes with a number of benefits, but so does renting—so you’ll have to weigh the pros and cons for yourself.