First Timer Guide to Buying

Buying can seem daunting, especially when there are so many little things to do. So, let’s talk about what to expect. Before you begin looking at homes, you will need to do 2 important things. 1) Talk to a Lender. A mortgage lender will run your credit against your income and tell you how much you qualify for. 2) Save your money!! You will need to make an investment in your future home. This up front fee is known as a downpayment, but there are other items you’ll want to pay for to make sure you’re buying the best home you can afford. Once you have these two items, you can call a realtor to begin looking inside homes. When you go under contract (that means you’ve made an offer on a place that has been accepted), you will submit something called Earnest Money. This is typically a couple thousand dollars written in a check, that gets held by the local title company. These funds apply toward your downpayment. You’ll have two other upfront costs once you’re under contract and these are very important. 1) Home Inspection: In our area, a home inspection can run anywhere from $300-700 based on the square footage of your house. It’s a good idea to have at least $500┬ásaved for this. And believe us, it’s always a wise idea to have a home...

Read More