If you are a first time home buyer here are a few tips that will help you make the right decisions on what house will be the smart choice and fit your budget.
My number one thing for any home buyer to do seems to be #4 on other lists but here is my list:
1. See what you can afford. Create a budget for your household to see what monies you have
available in your budget for a mortgage payment and still have money left over to continue
putting some money in savings with a bit left over for a hamburger. Remember that a
mortgage payment consists of principal, interest, property taxes, and insurance. Once you
know how much payment you can stand and lender or Realtor can tell you how much house
you can afford.
2. Check comparable sales prices for the neighborhoods you like through an MLS search...
your Realtor can help with this. Your Realtor will also be checking the comparables on sold
homes in the neighborhood you choose to help advise you on the offer price that makes the
most sense.
3. There will be closing costs involved you must prepare for which is separate from the
down payment you have saved up.
4. Don't forget that there will be maintenance costs associated with owning a home...light bulbs,
AC filters, wear and tear on the home and appliance break down.
For more information on buying your first home please email me at hollyg@kw.com or go to my website www.HollyGHomes.com
No comments:
Post a Comment