Guide to Buying Your First Home

By
Real Estate Agent with REALTY EXECUTIVES

Buying your first homeBuying your first home is an exciting time, but often causes a lot of anxiety as it’s a large commitment to make. How do you know if your getting a good deal? How do you know whether or not you’re making a good investment? Are you getting in over your head? Where do you even start? By educating yourself prior to purchasing your first home, you will ease much of the worries first time home buyers face. With this guide to buying your first home, you’ll rest easy knowing where to start and how to choose the best house.

Outline Your Goals
Before you buy your first home, you need to take many factors into consideration, such as your long term goals for purchasing a home, what type of home will suit your needs and what features you’d like to have. Of course, you need to find out if you qualify for a loan. Then, you need to determine if the loan you’ve been approved for actually fits your budget. By finding a reputable real estate agent, they will be able to help you find a home you can afford that meets your needs.

Buying Your First Home
After you’ve figured out if buying a home that meets your needs is even possible, it’s time to start looking for your perfect house. Don’t jump into the first house you find. Evaluate all of your options prior to taking the plunge. Once you’ve found a house you’re interested in be sure to investigate all of your financing options to secure the property. As you make an offer on the house, your agent will help you determine who will cover the closing costs and help you understand the escrow process. You’ll definitely want to have the home inspected prior to making a final agreement to purchase a home. After the inspection and biding process is complete, you’ll need to determine if you’re ready to close on the home or if you’re going to move on.

During the final stages of buying your first home, your purchase will include an appraisal, title search, mortgage insurance and mortgage paperwork. Your real estate agent will help you understand and complete the process needed to buy your first home.

Your First Home
After you’ve purchased your home, you need to keep saving your money as homeownership is full of unexpected expenses, even if your home passed the inspection. Create an emergency fund so you won’t be caught off guard by any repairs or regular maintenance. By performing regular maintenance on your home, you’ll keep your repairs small and manageable.

When you buy your first home, there is a high level of satisfaction and pride that takes place along with the anxiety over whether or not you’ve made a good investment. After you’ve purchased your new home, try to ignore the housing marketing. Don’t stress over whether or not it’s a good time to sell until you need to relocate or are in financial distress.

If you’re interested in buying your first home or would like to learn more, contact Steven Larson today!

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