Are you a first-time home buyer? If so, jumping into the real estate world might seem a bit overwhelming. Have no fear though….The Ultimate Guide for First-Time Home Buyers takes a comprehensive look at what to expect when purchasing a home so there are no unpleasant surprises. With this knowledge, you will have a slight edge against many of the other buyers that you will be competing with during your search for the perfect home.
Do I Really Need A Guide to Buy A Home?
Technically, no you don’t need a guide to buy your first home. But it sure does help a lot! There are so many different variables and nuances in a real estate transaction so we have condensed the most important parts of the home buying process and put them into this guide. Our goal is to give you as much knowledge as possible so that you are making smart and informed decisions when it comes to your real estate purchase.
What Are the Benefits of Owning a Home?
Besides the intrinsic pride of owning your first home, there are other benefits as well. Maybe you’re renting in an apartment and just want more privacy that a single-family home offers. Another benefit is that you won’t have to worry about increasing rent payments every year, because fixed mortgage payments stay the same throughout the life of the loan. There’s also the added bonus of the mortgage interest tax deduction that we go into more detail in this guide. A home can also be a positive investment as they typically gain in value over the years.
Are You Financially Ready to Buy a Home?
This question is probably the biggest roadblock that holds many people back from being a first-time homeowner. Or to better put it……not finding out the answer to this question. The largest obstacle for many people is not having enough money for the down payment. Fortunately, this guide shows you that there are programs and loans that offer down payment assistance or even in some cases no money down altogether. Credit score also plays a major factor in being able to qualify for a home loan, but if your credit score is less than desirable, don’t let that deter you. There are loans that can in some cases accept credit scores as low as 580 or credit repair programs that with a little guidance can get your score up in no time.
How Much of This Article Do I Really Need to Read?
If this is your first time buying a house, then you will probably want to read most, if not all of this First Time Home Buyer’s Guide. We tried to leave out any unnecessary items and include only those that really have an impact on you during the home buying process. That being said, you may not be able to read the whole thing in one sitting, but feel free to use it as a resource to come back to whenever you have a question.
Ready to Start Your Home Search?
We set up all of clients to receive email alerts whenever new properties hit the market that meet their exact criteria. This helps you find homes faster and hopefully allows you to view the home before other buyers. If you would like to set up your search as well, just click below to begin.