Buying a home is a huge financial decision, perhaps one of the biggest financial decisions you will make in your lifetime. Buying your first home can be an overwhelming experience, but it doesn’t have to be! We have compiled a list of things you should think about and plan for when going through the process of buying your first home!
- Are you ready? Just because you want to buy a house, doesn’t mean you are ready to. Be sure to be in good financial standing. Also keep in mind that having a house requires more upkeep and additional payments than just the mortgage. Keep in mind utilities, property taxes, insurance, etc.
- Once you know you are set to buy a house, compile a list of your needs and wants. Ask your friends, mentors, family, or significant other for help and advice when prioritizing your needs. For example, what is more important to you: the price, the size of the town, neighborhood, access to downtown, school district?
- Now that you know what you want and need, look online and then find an agent! Feel free to browse the internet for different listings. Just like shopping for something else, it is good to check out different homes and listings and compare them before making a decision. Next, find a real estate agent. Having an agent help you though this new experience will be extremely helpful! Professional help is immensely beneficial. There is a lot more to purchasing a home than what you may first think, and an agent will help you each step of the way!
- After finding an agent, find a lender and chose a mortgage loan that will suit your needs and plan. Your agent can also help you with this step to make it less stressful. Remember to maintain good financial status during and after this process. You should get preapproved for a loan before you start looking at homes and going to open houses.
- Next comes the fun part! Visit different houses and listings to see what works best for you! The first home you buy is one that you won’t ever forget!
- Once you make a decision on a house, make an offer, and negotiate with the owners. This can be stressful, but negotiating will pay off in the end. Once a deal is made, make sure to get an inspection of the home and appraisal done.
- Sign the closing papers, and you have just bought your first home!
Contact NextHome At the Lakes to find an agent who will help you in each stage when buying a new home!
For additional information on each of these steps, visit The Everything Guide to Buying Your First Home.
HouseLogic. “The Everything Guide to Buying Your First Home.” Houselogic, HouseLogic, 5 Mar. 2018, www.houselogic.com/buy/how-to-buy-step-by-step/home-buying-steps/?site_ref=mosaic.
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