General

BUYING YOUR FIRST HOME – A CHECKLIST

Deciding to buy your first home is a huge milestone. Nothing feels quite as fulfilling as owning property using money you’ve worked hard for. Because this is a big investment, you’ll want to be careful to make the right decisions before buying your own home. Before you run off to make your purchase, make sure to run through the following things and ensure a trouble-free home purchasing process:

  • Make sure buying a home is for you

Are you planning to move in a year or two? Is your job unstable? Is it cheaper to rent in your city? If you answered yes to any of those questions, it may be wise to reconsider buying a home.

  • Credit check

Do a credit check or make sure you have enough cash to give 20% down payment. Having enough for the down payment is a good indicator that you are ready to purchase your new home.

  • Pre-qualify for mortgage

This will help you gauge what price range of houses you can afford and will save you a lot of time and heartache when looking around.

  • Find a good realtor

Finding a good realtor can make your entire home-buying process easier. He or she should listen to all your wants and needs and suggest good options, or look around for a better fit for you. Make sure to cross check and research for a trusted realtor. Friends and family may have recommendations, so it would be good to ask them as well.

  • Request a home inspection

This is a crucial part. Do not scrimp on the home inspections as it can save you thousands for repairs. Home inspections are paid, and they will look for deal breakers that may not be obvious at first glance. Mold, problematic foundation, and a roof that needs to be replaced are one of the few things that they may find.


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