We all grow up, move out of mom and dad’s house, and start becoming actual adults. The most exciting thing and the most adulting thing you will ever do in your life is
purchase your first home. Here are some helpful tips for first home buyers; where to start to ensure the process is less nerve-wracking than ever.
• Start saving early: You know the saying, “the early bird gets the worm.” Well, the early saver gets the house. Buying a home is one of the largest purchases we will ever make in our lifetime. Know the cost of being a homeowner from HOA (Homeowner’s association), electricity, water/sewage, garbage man, maintenance, and repair, etc.
• Plan for the Future: Do you want a family? How many pets? When your parents age, do you need space for them? Most of us don’t even know what we want for dinner
tonight, and trying to plan 5 to 10 years down the road can be a headache. When buying a home, ask yourself these questions; is it in a good neighborhood? Is it in a good school zone? Is the commute to places like work, hospitals, and groceries stores reasonable? Buy a home in hopes of expanding your family, even if it’s a home with you and a pack of dogs.
• Credit Check: No one is perfect and having a “perfect credit score” of 850 is often rare, but even being in the 700 range you will most likely get a loan with low rates. Unfortunately, if your score drops below 600, you are most likely to be denied or won’t be considered for better options.
• Bankers’ & Realtors’ are on your side: Believe it or not, they are excited for you and want you to trust them as much as you trust yourself. Be honest with them and don’t try to confuse them or exaggerate situations. The more you cooperate, the easier the process will be.
• Don’t judge a book by its cover: Wall color, carpet, overgrown or dead plants are minor issues of a house and can be changed with just a little TLC. Just because the outside may look like a hot mess, doesn’t mean the inside is the same way.
• Trust your instincts: Once inside, trust your instincts. Be very observant of
every inch of the house; faint smells, stains, outdated amenities, etc. Do not be afraid to ask questions.