Be ready to buy, both financially and emotionally
Here are some tips when getting ready to purchase your first home:
- Find the right real estate agent (don’t feel pressured to buy a home that isn’t a fit for you.)
- Get your finances in order – you should meet with a mortgage broker to find out how much you can afford and how much cash you will need to close.
- The purchase price and the mortgage payment are just the beginning. Don’t forget homeowner fees, homeowners insurance and real estate taxes. Plus, you’ll need to budget for utilities, repairs and maintenance.
- Be ready to move quickly on a decision. Good homes that are well priced will sell quickly. It is okay to take time to think things through, but don’t take too long.
- Know what you want and on what you are willing to compromise. Most houses won’t have everything you are looking for, but be sure to narrow down a list of things that you could live without.
Source: For more information on first time home buying, visit House Logic.