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6 Tips To Lessen The Stress Of Buying Your First Home!

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Buying your first home can be a daunting process. But, there is no need to worry! Luckily, there are a great deal of resources available that make buying a home much easier. Here are a few recommendations for individuals buying a home for the first time:

  1. Compare, compare, compare! You can use online websites like Zillow or Homegain to check out numerous listings at once, and find out what the current prices are like.
  2. Use a mortgage calculator to determine how much you can afford.
  3. Determine how much you will be spending each month for housing by adding in homeowners insurance and taxes. You can call a local insurance agent to get an estimated homeowners insurance rate.
  4. Don’t forget about closing costs! Origination fees, and settlement fees can add up! Make sure you remember to factor them into your monthly housing costs.
  5. You shouldn’t spend more than 28% of your income on your monthly housing costs. Review your budget, and make sure you have room for an expense like that.
  6. Speak with a trustworthy real estate agent who can provide you with information regarding whether the current market is a buyers’ market or a sellers’ market.

Follow these simple guidelines, and you’ll be able to more accurately decide whether you are ready to purchase your first home

Comments(2)

  • January 27, 2016, 9:42 am

    My husband and I are planning on buying our first home this year. However, I am having a difficult time figuring out what our budget should be. I’m really glad that you mentioned that no more than 28 percent of your income should go towards monthly costs, because that really helps me to better calculate things out. Now, do you know what time of year would be the best time to buy a house?

    • Fealkoff Team
      February 3, 2016, 5:00 pm

      Hi Faylinn, thanks for your comment. Anytime is a good time to buy a house especially now with the interest rates being low. Housing inventory tends to increase in the spring and summer however so do the amount of buyers looking. What area are you considering buying your new home? You can always give me a call at 805-630-3323
      Thanks, Mary