6 Tips for First-time Home Buyers
Looking to purchase your first home? Here are 6 tips for first-time homebuyers.
Looking to purchase your first home? Here are 6 tips for first-time homebuyers:
Start saving early. Here are the main costs to consider when saving for a home:
Down payment: Your down payment requirement will depend on the type of mortgage you choose and the lender.
Closing costs: These are the fees and expenses you pay to finalize your mortgage.
Move-in expenses: You’ll need some cash after the home purchase. Set some money aside for immediate home repairs, upgrades, and furnishings.
2. Decide how much home you can afford. Figure out how much you can safely spend on a house before starting to shop.
3. Check and strengthen your credit. Your credit score will determine whether you qualify for a mortgage and affect the interest rate lenders will offer.
4. Explore mortgage options. A variety of mortgages are available with varying down payment and eligibility requirements.
5. Research a first-time homebuyer assistance program.
6. Get pre-approval. A mortgage preapproval is a lender’s offer to loan you a certain amount under specific terms. Having a preapproval letter shows home sellers and real estate agents that you’re a serious buyer, and can give you an edge over home shoppers who haven’t taken this step yet.
Top 5 Reasons to Hiring a Selling Agent
Here are the top 10 reasons why you need a real estate agent whether you’re a seller, buyer, or property investor.
If you’re getting ready to buy or sell a house, you might be weighing the pros and cons of hiring a real estate agent. Some people will avoid working with agents or realtors because they think real estate agent fees are too high. Others wouldn’t hire one because they’ve had bad experiences in the past. However, this only emphasizes the importance of having a good agent to work with. In addition, if the only reason you’re not working with an agent is to save money by not paying fees and commissions, then you’re overlooking the main benefits of hiring a real estate agent. What does a real estate agent do and how do they make your transaction easier? Here are the top 10 reasons why you need a real estate agent whether you’re a seller, buyer, or property investor.
Ensures that you get proper representation
Benefit from current and historical market experience.
Consult on improving the salability and value of your home
Skill in marketing your property to the right buyer
Understands the legal requirements and documentation process which protects you.