At one time or another, everyone was a first time home buyer. It can be downright confusing, or overwhelming even. Before you buy, you should check out our tips below!
- First, you want to get an understanding of your finances.
- Track a few months' spending, meet with a mortgage lender and get pre-approved, find out how much you can afford, also, pull your credit and evaluate your assets and liabilities.
- Next, you need to have a long-term goal in mind.
- Do you plan to be in this home for a long time?
- Do you want kids?
- Maybe a dog?
- A home office?
- Do you want a fixer upper? Do you have the time to do it? And can you afford to do it? Do you know how to fix it up?
- Maybe a condo would be a better fit. You should think about it. No yard work, no maintenance. All you have to do is pay your HOA, and everything is taken care of for you.
- Lastly, be aware of additional costs.
- Property taxes
- Home owners insurance
- Closing costs, which would be like escrow fees, and HOA dues.
If you follow these tips, you'll have a better first time home buying experience. We promise you.