If you are considering buying a house for the first time, here are some tips to consider. You need to determine what your long-term goals are for your ownership plans. An example like rent payments to mortgage payments or independence from a landlord. Here are some questions to ask yourself, if you are considering buying a house for the first time:
1) What type of home suits you best? You can look at many options including; single-family home, townhouse, condo, multi-family building with units. Depending on you home ownership goals, each options has its pros and cons. Consider each pro and con when picking your perfect home when buying for first time.
2) What features are you looking for in your dream home? You are spending a lot of money, so you deserve to purchase a house that fits your needs and wants to best of its capability. Features to consider include; neighborhood, size, bathroom layout, kitchen, bedrooms, or yard size.
3) How much mortgage do you qualify for? Before browsing for homes, you need to get an idea how much a lender will give you to purchase your home. Factors that lenders look at include; how much debt you have, monthly income, and how long you have been at your current job.
4) How much home can you actually afford to spend? Sometimes a bank will loan you money for more than you actually want to spend. You will have to look at the house’s total cost. Monthly payment, down payment, and property tax, insurance cost, renovation costs, and closing costs are also important to look at.
5) Who will help you find your perfect home?
Brian M. Smith and Wall Associates will love to help you find your dream home for all you first time buyers. A premier real estate agent in Marion County, we’re here to provide you with all the resources and information you need to buy your first house. I work in the areas of Marion County, Hendricks County, Boone County, Hamilton County, Indianapolis and the surrounding areas. We’re confident that we can find you the best home for your first time buy.
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Tips For First-Time Buyers. Tips For First-Time Buyers. Tips For First-Time Buyers.