What to know when buying your first home by Kelly Kiser-Mostrom

Buying your first home can be an exciting and intimidating experience. It’s a big investment and there are many things to consider. In this blog, we’ll provide some tips and guidance for first-time home buyers.

1. Know your budget Before you start house hunting, it’s important to know how much you can afford. This means taking a close look at your income, expenses, and debts. You can use online calculators to determine how much you can afford to spend on a home. Remember to factor in additional costs such as property taxes, insurance, and maintenance.

2. Get pre-approved for a mortgage Getting pre-approved for a mortgage is an important step in the home buying process. It helps you determine how much you can borrow and shows sellers that you are a serious buyer. You can get pre-approved by contacting a lender or using an online service.

3. Find a real estate agent A good real estate agent can help you navigate the home buying process and find the right home for your needs and budget. Look for an agent who has experience working with first-time home buyers and who understands the local market.

4. Determine your must-haves Make a list of your must-haves in a home, such as the number of bedrooms, bathrooms, and square footage. Consider your lifestyle and what is important to you. This will help you narrow down your search and find a home that meets your needs.

5. Don’t skip the home inspection A home inspection is an important step in the home buying process. It can identify any issues with the home that may not be immediately apparent. This can include things like leaks, electrical issues, and structural problems. If issues are found, you can negotiate with the seller to have them fixed or ask for a lower price.

6. Don’t rush the process Buying a home is a big decision, so don’t rush the process. Take your time and make sure you find the right home for your needs and budget. Don’t be afraid to walk away from a home if it doesn’t feel right.

7. Know the closing costs Closing costs are the fees associated with buying a home. They can include things like title insurance, attorney fees, and appraisal fees. Make sure you understand what these costs are and factor them into your budget.

Buying your first home can be a daunting task, but with the right guidance and preparation, it can also be an exciting and rewarding experience. If you follow these tips and work with experienced professionals, you’ll be well on your way to finding your dream home.