You are at a point in your life where you wish to put your roots down by owning a home. However, before you step into this next level of adulthood it is important to follow a few steps. Apart from knowing the configuration of the home you want, location it should be in, and color of the trimming, there is a lot more decision making and research you must be prepared for.
The time you wish to spend in your commute from work to home, the size of the backyard you wish to have and the serenity of the neighborhood may seem like decisions you will not back down from. However, these decisions can change when you start reviewing how much financing you may need. There is a reason dream homes are called just that. The sooner you get in touch with a property expert, the closer you get to being a home owner.
Property experts not only have access to homes that you may not find on the market, they also give great first home buyers advice. Before stepping into the field and starting to look at homes, it’s essential to sit down with a realtor or mortgage broker to know your credit health, and if it needs any repair. Knowing that you qualify for a loan is a battle half won.
In some cases, one can be eligible for free money that can be used for a down payment. Property experts can direct you towards some programs that support first home buyers and all you need to do is attend classes on home ownership.
Another important step is to keep your pre approval ready from your lender. This means when you have found a home you love, you do not lose it by waiting on your lender approval. A swift and firm offer is more likely to be accepted, especially when you don’t keep the seller waiting for too long.
Advice to first home buyers is not to spend more than 30% of their monthly income on housing. Mortgage payment, property taxes and home owner’s insurance are subject to the property, and no one is better than a property expert to guide you. When it is time to make the final offer on a property, your property expert will have the right type of experience in getting your offer accepted. Remember, your perseverance and planning will always pay off.