7 Tips For First Time Home Buyers

If you are a first time home buyer and quite eager to get your new home, here is a list of seven steps you need to follow before you take the plunge.

1. Are you sure you are getting a house at a price at par with prevailing real estate rates? No one can actually be very sure about it. Hence, it’s advisable to check home rates in your area on websites like Homegain and Zillow. Here, you will get a clear idea on how much you must pay in order to own a home. Another trust worthy site is the one developed by National Association of Realtors.

2. Most of the first time home buyers find it quite difficult to repay the mortgage because the monthly payment is too high. This happens due to inadequate research and inefficient planning before getting a mortgage. Make use of mortgage calculator provided by Bankrate to work out how much you can afford to repay every month.

3. First time home buyers must also add housing cost in their planning list before owning the home. You must calculate how much home owners insurance and taxes would sum up to, to get the approximate monthly spending amount. This sounds insignificant, however it’s much important than one’s perception. In some areas, taxes can almost double the amount of mortgage.

To know how much insurance can cost, you can pick up any property in the desired area and call up the local insurers in order to get the exact amount of insurance. Getting details about property tax is comparatively simple. Zillow provides information about property tax in all the areas around the world. It’s also important to make note of the exemptions and complexes of local tax system. Many areas can help you save lots of money spent as tax.

Read about:   Zillow Home Loans Enters the Real Estate Marketplace

4. Determine how much amount would be spent as settling cost. This cost comprises of tax and insurances, lender fees, settlement and title fees, and prepaid fees like homeowners association fees.

5. Before shifting to the new home, first time home buyers must set up a budget. According to Fannie Mae, spending more than 30% of your income as household expenses can expose you to the risk of being house poor.

6. Get as much information from the real estate agent as possible. Learn about the local climate, rise and fall in prices, etc.

7. House is definitely an investment. However, not maintaining this investment appropriately can prove to be a costly affair and can be more expensive than the investment itself in the long run.

Hence, jumping to a decision without proper precaution can land you in trouble. It’s advisable for first time home buyers to follow these steps before actually become a first time home buyer.

30 thoughts on “7 Tips For First Time Home Buyers

  1. Grover Brundin says:

    Pretty great post. I just stumbled upon your blog and wanted to mention that I’ve really enjoyed browsing your weblog posts. After all I will be subscribing in your rss feed and I hope you write once more very soon!

  2. Quinn Wigner says:

    Greetings from Carolina! I’m bored at work so I decided to check out your website on my iphone during lunch break. I enjoy the info you present here and can’t wait to take a look when I get home. I’m surprised at how quick your blog loaded on my cell phone .. I’m not even using WIFI, just 3G .. Anyhow, very good blog!

  3. Pingback: how to message guys on tinder
  4. Clint Agredano says:

    Definitely, what a great blog and revealing posts, I definitely will bookmark your site.All the Best!

  5. Burma Usack says:

    Thanks a lot for sharing this with all of us you actually know what you’re talking about! Bookmarked. Please also visit my website =). We could have a link exchange contract between us!

  6. Jerrell Flenner says:

    An impressive share, I just given this onto a colleague who was doing somewhat evaluation on this. And he actually bought me breakfast as a result of I discovered it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to debate this, I really feel strongly about it and love reading extra on this topic. If doable, as you turn out to be expertise, would you mind updating your weblog with extra details? It is highly helpful for me. Large thumb up for this blog put up!

  7. Shad Faaita says:

    certainly like your web-site but you need to check the spelling on several of your posts. Many of them are rife with spelling issues and I find it very bothersome to tell the truth nevertheless I’ll certainly come back again.

  8. Chong Zavitz says:

    I enjoy, cause I discovered just what I was having a look for. You have ended my four day lengthy hunt! God Bless you man. Have a nice day. Bye

  9. Shizuko Treleven says:

    Hey there! I’m at work surfing around your blog from my new apple iphone! Just wanted to say I love reading through your blog and look forward to all your posts! Keep up the great work!

  10. Benny Chadsey says:

    Hi! I’ve been reading your weblog for a while now and finally got the bravery to go ahead and give you a shout out from Kingwood Tx! Just wanted to mention keep up the good job!

  11. Marcelo Poor says:

    Heya i’m for the first time here. I found this board and I in finding It truly useful & it helped me out much. I’m hoping to provide something again and help others like you aided me.

  12. Lizabeth Siracuse says:

    Thanks a lot for sharing this with all of us you really know what you’re talking about! Bookmarked. Please also visit my site =). We could have a link exchange agreement between us!

  13. Adrianne Gavia says:

    Hello There. I found your blog using msn. This is a very well written article. I’ll be sure to bookmark it and come back to read more of your useful info. Thanks for the post. I will certainly return.

  14. Teodoro Stoner says:

    hello there and thanks in your information – I’ve certainly picked up something new from proper here. I did on the other hand experience a few technical points the use of this web site, since I experienced to reload the website many times previous to I could get it to load properly. I had been thinking about in case your hosting is OK? Now not that I am complaining, however slow loading circumstances occasions will often have an effect on your placement in google and can injury your high-quality rating if advertising and ***********|advertising|advertising|advertising and *********** with Adwords. Well I am adding this RSS to my email and could look out for much extra of your respective interesting content. Ensure that you update this once more very soon..

  15. Jess Samlal says:

    Hi, Neat post. There’s a problem with your website in internet explorer, would check this… IE still is the market leader and a huge portion of people will miss your fantastic writing because of this problem.

  16. Milton Spevak says:

    Great goods from you, man. I have be mindful your stuff prior to and you are just too fantastic. I actually like what you’ve acquired here, certainly like what you are stating and the best way during which you assert it. You’re making it entertaining and you continue to take care of to stay it smart. I can’t wait to learn much more from you. This is really a great site.

  17. Curtis Goepel says:

    I have recently started a blog, the info you offer on this website has helped me tremendously. Thanks for all of your time & work.

  18. Harland Rudes says:

    Hey there would you mind stating which blog platform you’re working with? I’m looking to start my own blog soon but I’m having a tough time selecting between BlogEngine/Wordpress/B2evolution and Drupal. The reason I ask is because your layout seems different then most blogs and I’m looking for something unique. P.S My apologies for getting off-topic but I had to ask!

  19. Hugh Condray says:

    You made some nice points there. I looked on the internet for the subject and found most people will approve with your site.

  20. Danyelle Tuinstra says:

    You are a very bright individual!

  21. Shyla Niziolek says:

    I do accept as true with all of the ideas you’ve offered on your post. They’re really convincing and can definitely work. Nonetheless, the posts are very brief for novices. May just you please lengthen them a bit from next time? Thanks for the post.

  22. Jonah Gutenberger says:

    Hello! I simply wish to give an enormous thumbs up for the nice data you could have right here on this post. I shall be coming again to your weblog for more soon.

  23. Pura Dutra says:

    I think other site proprietors should take this web site as an model, very clean and wonderful user genial style and design, let alone the content. You’re an expert in this topic!

  24. Traci Pariseau says:

    Hey there! This is my first visit to your blog! We are a team of volunteers and starting a new project in a community in the same niche. Your blog provided us valuable information to work on. You have done a wonderful job!

  25. Harriet Balogun says:

    I’d should test with you here. Which isn’t one thing I normally do! I take pleasure in studying a put up that may make people think. Also, thanks for permitting me to remark!

  26. Winford Klukken says:

    Well I really enjoyed studying it. This tip provided by you is very helpful for accurate planning.

  27. Trey Notari says:

    Hi! This is kind of off topic but I need some help from an established blog. Is it very hard to set up your own blog? I’m not very techincal but I can figure things out pretty fast. I’m thinking about creating my own but I’m not sure where to start. Do you have any ideas or suggestions? Appreciate it

Leave a Reply

Your email address will not be published.