Thinking about buying a home for the first time, but not sure where to start? Buying a home is an exciting new milestone that can sometimes be stressful (especially in 2021). Not knowing what to expect can make the journey a lot more stressful than it has to be. We are here to help! We have compiled the top 5 tips to make your first – time home buying process a smooth and successful one.
- Knowing Your Budget & Get pre-approved for a Loan
Before you start looking for a home you need to know what you can afford. The pre-approval process will help you know the price range of homes you should be looking into. Another major factor you need to be aware of is your down payment. Your down payment is the amount of money you need to pay upfront in order to buy the house. This is something you can discuss with your lender. Take a look at our preferred lenders: https://boydhomes.com/search-homes/
2. Your Must-Haves and Deal-Breakers
What do you want/need in a home, this will help you narrow down your search. What is your ideal square footage? How many bedrooms and bathrooms do you want? Are there any special features that you must have such as a garage or gas fireplace? Are there certain things you do not want that would be a deal breaker for you? Figuring out what you want and don’t want will help your home buying process go smoother.
3. You Found Your Dream Home
You have found your dream home and they accepted your offer. You couldn’t be more excited! What should and shouldn’t you do next. The biggest tip we can give you is to hit pause on any large credit card purchases. Large purchases such as buying a new car could impact your ability to qualify for the loan amount you require. What you should do is organize your move with putting the utilities in your name, get rid of items you do not want to bring to your new house, and schedule movers or friends to help you.
4. Why Get a Home Inspection
Getting a home inspection will give you peace of mind by ensuring you that there aren’t any undisclosed issues with the home. Once the inspection is complete you will be provided with a list of all necessary repairs, as well as minor issues you can fix later. Be prepared to spend some money when hiring a home inspector, but it is worth the money.
5. What to expect on Closing Day
Closing day is finally here! The closing process may take more than an hour so be prepared, after all buying a home is a big decision and you don’t want to rush the process. What will you need to bring? Your photo ID, cashier’s check, the closing disclosure, and proof of insurance. Once you have signed all the necessary documents (keep your copy of the documents in a safe place after closing) and gotten your keys, you’re officially a homeowner! Happy homeownership!