So you are finally ready to transition from a rental to
purchasing a home? Or maybe you lived with your parents a little longer than
you wanted to so you could save for a down payment? Either way, if you are a
first time home buyer, here is a great little guide to help you navigate the road
to home ownership.
Save! Save! Save!
In addition to a down payment, you will also need to have enough money for closing costs and escrow for insurance and taxes.
In addition to a down payment, you will also need to have enough money for closing costs and escrow for insurance and taxes.
Improve Your Credit Score-
Remember the higher your credit score, the lower your interest rate
·
Make sure you pay your bills on time
·
Do not make any major purchases (car, furniture,
etc.)
·
Don’t cancel any credit cards
Get Pre-Approved
Chances are what you think you can afford and what you actually can afford is very different. Speak to a few different mortgage lenders to get pre-qualified and make sure to shop the best rate.
Chances are what you think you can afford and what you actually can afford is very different. Speak to a few different mortgage lenders to get pre-qualified and make sure to shop the best rate.
Decide What Your
Non-Negotiables Are
No house is perfect and no house will have every single feature you want. Decide on the must haves so you can weed out the ones you don’t want before ever going to see it.
No house is perfect and no house will have every single feature you want. Decide on the must haves so you can weed out the ones you don’t want before ever going to see it.
Choose a Realtor
Make sure that you are comfortable with the person you
choose as your realtor. You will be working very closely with them during the
home hunting and home buying process.
Visit Homes
When you go on appointments to view the properties, make
sure you take lots of notes and maybe even pictures.
Narrow Choices
·
If you see a home you like, you may want to
drive through the neighborhood at different days and different times and check
for noise, traffic, etc.
·
How is the commute to your job?
Make an Offer
Your realtor can help you to determine the asking price
based upon comps in the area
Schedule the Home
Inspection
Do a Final Walk
Through
·
Test all light switches and outlets
·
Check that windows and doors work
·
Check faucets, drains, toilets
Move In and Create
Your Memories!
I am a realtor working in South Florida. If you need help buying or selling a home, please contact me. Also, please view my website where you will also be able to search the MLS. http://www.lindatabaskygoldberg.keyes.com/
