First Time Homebuyers
- Home Buying Tips
- Friday, December 12, 2014
So, you’re thinking about buying your first home. What now?
Here are a few steps to help get you started:
1. Is buying a home right for you, right now?
Maybe you already know you’re ready, but if you don’t there are a few things to consider. Buying a home is one of the biggest emotional and financial decisions you’ll ever make. Prepare by learning about the process of home buying and the responsibilities of homeownership. As with many things in life, word-of-mouth is a great way to learn about things; talk to your friends and family who have already gone through the process.
2. Are you financially ready?
You’ve already got your down payment saved up, but if you haven’t already gone through the mortgage pre-qualification process, you will need to meet with a lender or mortgage broker. They will establish how much of a mortgage you will qualify for based on debt load. Mortgage rates vary considerably and it is paramount that you shop around for the best rate, terms and down payment options.
3. Which home is right for you?
You have several options when purchasing a new home: a traditional single-family home, semi-detached home, townhouse, condo, or a multi-family building. Each option has its pros and cons, depending on your homeownership goals, so you need to decide which type of property will help you reach those goals.
Not really sure? Our sales teams are trained to help guide you through the process of finding the home that best meets your unique needs. Ask us! We’re happy to help.
4. What’s involved in the buying process?
You found it! Now what?
If you’ve chosen to purchase a new home with us, your sales team will assist you with the details of the sale, and ensure you have all the information you need. Depending on whether you’re building from the ground up, or have selected one of our quick possession homes, your timeline will vary.
Once your home is move-in ready, it’s time to get your keys, book a mover and plan out where you’ll put everything in your brand new home!