Tools for your first home purchase…  

What is the first step in buying a new home? To look for a new home….. Or maybe it is calling up realtor. From my experience let me share with you some common ideas when you are looking to buy your first home.

(1)   The Bank… How much home can you afford?

First, speak with your banker or mortgage broker to give you an assessment on what you can afford. If you are really serious about purchasing a home it is good to get a pre-approval in writing. (Mortgage Calculator)

(2)   Your options…Where do you want to live?

Now that you have the budget for you new home consider your options. Do not forget about the real estate taxes and home owners insurance. Based on the value of your new home and where your home is located, taxes can get a bit costly. If you live out in the country, you will not have to pay in city taxes as well as other taxes that may apply to the area. Other fees that you may encounter is Home Owners Association fees; depending on the type of subdivision your home maybe in could result in the amount of fees and required maintenance cost that comes with living within a subdivision.

A simple nugget… Don’t forget about the foreclosure sales! “Save Big” when buying your home!!

(3)   Real Estate agent… Do you need one?

It’s up to you if you would prefer to have a real estate agent or not. The agent will make the process more seamlessly. It is a good idea to choose someone that you can work well with and that is concern about your well being.

(4)   The Title Company… Chose a good title company with outstanding service to provide title insurance for your home. The reason why I stated outstanding service is because you need a company that will work with you. That values you as a customer. That will keep you updated on the progress of your transaction especially if there is not realtor involved to represent you.

Not going into to much detail, these are just some general steps to consider when  you start to think about making your first home purchase.

Peace Love and Stilettos!!!

Ta Wana

Sited Source:

House Image, Retrieved November 23, 2009 From http://www.hpadesign.com/img/photos525/200029004.jpg

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