Ready To Buy Your First Home?
Buying your first home can be an incredibly exciting time, but before you take the leap into homeownership you will want to be prepared. There are many questions to ask and answer when considering transitioning from renting into buying your first home. We would be happy to sit down with you and recommend local lenders, discuss your overall financial goals and tell you about some programs that may make buying a home easier than you thought possible.
Here are some of the questions we will review when you come in to help prepare you to become a successful homebuyer:
Are You Ready To Buy?
Owning your own home is about more than just being able to decorate it any way you like; it's about being prepared to maintain your home over the years, realizing that part of your income and time will go towards repairs and maintenance. It's about being willing to take the risks of home ownership with a realistic expectation of the rewards.
Have You Saved Enough For A Down Payment?
For most first-time homebuyers, a down payment is one of the largest investments they have ever made. While there are many loan programs that can help you reduce the amount you’ll need to put down, a larger down payment will help you create more instant equity and reduce your monthly payments. Tax refund checks, work bonuses, and even gift funds from relatives are all excellent sources of funds for the down payment. If you have no other options, there are down payment assistance programs available.
How Much Can You Afford?
It can be discouraging to find that your salary won't stretch as far as the home you want to own. However, sacrificing a huge part of your income just to pay the mortgage can very quickly make home ownership a burden rather than a point of pride. It's better to buy a modest home now and look at purchasing your "dream home" in a few years.
What Do You Want?
Do you like the idea of cleaning your own gutters? Do you shudder at the thought of lawn care? Would you rather just pay a fee every month and have everything done for you? Does obeying rules about when you can have your garbage cans out bother you, or do you want to live in a neighborhood where everything is 'just so'? The answers to these questions can help you narrow down the search for the right type of property for you.
Northwest Realty Group is happy to help guide you through the complicated process of buying a home. Don't hesitate to contact us to find out how we can make the home buying process easier for you! Call us today at 208.664.4200 to set up an appointment!
Contact us for more information about first time home purchasing.