First Time Home Buyer Guide

What steps to take when buying a home

  1. Get your finances in order and check your credit score. The higher your credit score is, the better the chances to qualify for a better mortgage rate and type of loan.
  2. Get pre-approved for a mortgage. Before you start your search you have to see if you qualify to buy a home.
  3. Determine your wants and needs before you start house hunting. Finding the right house can become a long process when you don’t determine in advance what your wants and needs are.
  4. Once you find your dream house you need to write an offer with help of a real estate agent. Your agent will help you to negotiate the price.
  5. Inspections, a home inspector will let you know what condition the home is in and what kind of repairs are needed before you buy the home.
  6. Closing progress/Escrow. The period between offer acceptance and the final settlement is known as escrow, which can take several weeks

Don’t buy if you can stay put

If you cannot commit to stay put for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying a home, you may end up losing money if you sell too soon, even in a rising market.

When you are buying to rent out the property, ask your agent for how much you can lease your rental every month. Your expenses (e.g. property tax, maintenance and mortgage costs) have to be lower than your monthly rent income in order to make profit.

Appreciation

Homes gain on value over time, some years more and some less, depending on the market. The home appreciation rate varies from region and neighborhood. Therefore you should figure out what neighborhood has which appreciation rate before you start house hunting.

Do you want more information? Then check this out and learn more about buying a home.

Advertisements

20 thoughts on “First Time Home Buyer Guide”

  1. you are really a good webmaster. The website loading speed is incredible. It seems that you’re doing any unique trick. In addition, The contents are masterwork. you’ve done a fantastic job on this topic!

  2. I’ve been exploring for a little bit for any high quality articles or blog posts on this sort of area . Exploring in Yahoo I at last stumbled upon this website. Reading this info So i am happy to convey that I have a very good uncanny feeling I discovered just what I needed. I most certainly will make certain to do not forget this website and give it a glance regularly.

  3. you’re really a good webmaster. The web site loading speed is incredible. It seems that you are doing any unique trick. In addition, The contents are masterwork. you’ve done a magnificent job on this topic!

  4. I do agree with all of the ideas you have presented in your post. They are really convincing and will certainly work. Still, the posts are very short for novices. Could you please extend them a little from next time? Thanks for the post.

  5. Pretty section of content. I just stumbled upon your web site and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I’ll be subscribing to your feeds and even I achievement you access consistently rapidly.

  6. What’s Happening i’m new to this, I stumbled upon this I’ve found It absolutely helpful and it has aided me out loads. I hope to contribute & assist other users like its helped me. Great job.

  7. Great beat ! I would like to apprentice while you amend your web site, how can i subscribe for a blog web site? The account aided me a acceptable deal. I had been a little bit acquainted of this your broadcast offered bright clear idea

  8. I have been surfing online more than 3 hours today, yet I never found any interesting article like yours. It’s pretty worth enough for me. Personally, if all site owners and bloggers made good content as you did, the internet will be a lot more useful than ever before.

  9. I just could not depart your web site before suggesting that I actually enjoyed the standard information a person provide for your visitors? Is gonna be back often to check up on new posts

  10. Just want to say your article is as amazing. The clearness in your post is simply great and i could assume you’re an expert on this subject. Fine with your permission allow me to grab your feed to keep updated with forthcoming post. Thanks a million and please continue the rewarding work.

  11. hello!,I like your writing so much! share we communicate more about your post on AOL? I require a specialist on this area to solve my problem. Maybe that’s you! Looking forward to see you.

  12. Terrific work! This is the type of information that should be shared around the web. Shame on Google for not positioning this post higher! Come on over and visit my website . Thanks =)

  13. Wow, amazing blog layout! How long have you been blogging for? you make blogging look easy. The overall look of your website is excellent, let alone the content!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s