First-time home buyers are starting a journey that is both exhilarating and intimidating. There are many things to think about, from looking through listings to obtaining financing. As your team for first-time home buyer mortgages at Steve Owens Home Loans – MIG, we encourage you to check out the following things to consider when buying your first home.
- Budget: It’s critical to create a reasonable budget. In addition to the purchase price, consider extra expenses such as utilities, upkeep, homeowner’s insurance, and property taxes.
- Location: It’s true what they say—”location, location, location.” Consider how close you are to your family, friends, job, and schools. It’s also a good idea to research future development plans, crime statistics, and neighborhood patterns that may have an impact on property values. While it might be exciting to go for the first home on the list, first-time home buyers need to ensure the location works as well.
- Size and Kind of Home: Choose a house that is appropriate for your needs, be it a townhouse, condo, single-family home, or another sort of property. Consider the total square footage, number of bathrooms, and number of bedrooms needed for your lifestyle and any future adjustments, such as a growing family.
- Features: List the traits that are essential versus desirable. Give top priority to features such as a garage, backyard, renovated kitchen, or a particular architectural design. Keep in mind that not everything on your wish list will fit into your budget, so be ready to make some concessions.
- Options for Financing: This is where our team comes in. Before you go house hunting, we can talk to you about financing options for first-time home buyers. We’ll also take the time to answer any questions you have to ensure you feel good moving forward.
