Buying a home can be daunting and sometimes stressful, but by being prepared and properly organizing information, you will have a much easier time. Here is a must have checklist for buying your first home!
Why use a checklist for buying your first home?
Making a checklist ensures you have everything you need for a successful home search. The process will not only be much quicker but it will help you be less stressed and more organized. With that said, here are some things to put on your checklist…
01. Calculations – It’s a good idea to take a good look at your income, debt, and expenses to figure out what your home buying budget is. This way, you won’t waste time looking at homes outside of your budget. It will also be helpful if you get a mortgage pre=approval as well.
02. Savings – Do you have savings that you’ve put away for this home? You could use them on: a down payment (as little as 3% for a first time home buyer), Closing costs (around 3% of the loan), or upfront expenses (earnest money, inspection, appraisal).
It may be difficult to find a home that has EVERYTHING you want, but you can prioritize some aspects you consider a “need” in your home.
03. Credit score knowledge – How is your credit score? Do you know what your score is? Have you been trying to improve it for some time before home searching, such as making your payments on time? Remember: a higher credit score = a lower interest rate.
04. Wants vs needs – It may be difficult to find a home that has EVERYTHING you want, but you can prioritize some aspects you consider a “need” in your home. Be sure to write these down and keep track of which homes meet your needs. Be sure to discuss pros and cons of each home with your agent.
05. List of homes – Keep track of the homes you looked at, their locations, and features. When looking at homes; take photos and notes and give each one you looked at and their individual perks. This way it will be easy to organize your thoughts and decide on a home.
Interested in starting the home buying process? Click here to connect with a Sage & Cedar agent. You can schedule a buyer meeting to discuss the process, closing costs, lenders, and your specific needs!
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