Home Buyer’s Guide
We Know There is a Lot to Consider
You may be a first time home buyer or you may have been around the block a time or two when it comes to the home buying process. Luckily, our team is here to help you regardless of your situation as we know that buying a home is an important choice to requires careful consideration and guidance.
You Have Questions, We Have Answers
Am I Ready to Buy?
Here are a few questions to ask yourself:
- How are your finances and how much debt do you currently have?
- Do you have money saved for a down payment?
- Can you afford a monthly mortgage payment?
- Are you ready to settle down?
- Are you prepared to maintain a home?
What Should I Prepare?
Here are a few actions you can take to prepare:
- Check your credit.
- Pay off debt.
- Start saving for a down payment.
- Look into any down payment assistance programs available.
- Get an idea of how much you want to spend.
What Can I Afford?
To calculate your monthly budget you must know:
- Your monthly household income.
- Your monthly household debt payments. (credit cards, auto loans, student loans, other fixed monthly payments.)
- Any other monthly bills.
- Your average monthly cost for food and other living expenses.
- Your desired amount for monthly savings or investments.
Once you have a handle on your monthly budget, you should also consider these things that you will need money to cover:
- Down payment.
- Home inspection and/or appraisal.
- Money for maintenance and repairs.
- Property Taxes and HOA fees.
- Homeowners insurance.
- Moving costs.
- Closing fees. (if any)
How Does The Home Search Process Work?
Here are a few things to consider:
- Determine what your wants are.
- Determine what your needs are.
- Find neighborhoods that you like.
- Keep your price range in mind.
- Keep your expectations realistic.
What Should I Expect During The Offer and Closing Process?
Remember these few tips:
- Never make an offer that too low, to risk the seller denying your offer.
- Never make an offer that is too high, to risk overpaying.
- Patience is important.
- Be timely with your communication and responsiveness.
- You’re not in this alone, leave the heavy lifting to us.