Investing in Your New Beginning
Dated: March 25 2021
Buying your first home is very sentimental, it is both a learning experience and a lesson that needs to be thought about over and over before execution. A lot of people don’t put into consideration that purchasing a first home is also a good investment for the future. Don’t be afraid to take that leap of faith once you see a home that is perfect for your needs.
Before you start looking for a home to buy, here are some tips that we’d like to share with you to help you out in your first home buying experience.
Make sure you have good credit. When buying a home, having good credit is really important. Mortgage interest rates are dependent on credit, so the better your credit is, the better your chances of getting a good mortgage. If you happen to have a low credit score, it might be the right time to speak with a lender to check on how to repair your credit.
Get pre-approved for a loan. Having a pre-approval document will let you know how much money you can get as a mortgage loan. This is very important because all decisions on what home to buy is dependent on a budget. Sometimes you have a pre-existing criteria in the home you want in mind but once you see your pre-approved value, this might drastically change. This is a realistic view on what type of home you’ll end up buying.
Save up for a downpayment. Realistically speaking, the average downpayment is about 10% of the asking price.
Be certain that you are fully aware of closing costs and that you are committed to a mortgage loan. When you buy a home, the amount you spend does not stop at just the asking price. There are other fees associated with a sale such as, escrow fees, appraisal fees, title insurance fees, and inspection fees. Mortgage loans can range between 15-30 years so once you decide to buy a home make sure that you understand that you’re in it for the long haul.
Get a Trustworthy Real Estate Agent. Your trusty real estate agent will be your lifeline when it comes to helping you find the perfect home for you. They will be able to help you see some properties, help you decide on how much to offer, they will submit the offer letter for you, and negotiate with the seller. A good real estate agent will make your life so much easier.
We at the Stephanie Woods Team aim to make your real estate experience extraordinary and we will make sure all of your needs are met. Prescott homes are selling fast, there is no better time to invest in your first home than now. We will help you make your dream home become a reality. Call us today to set up a virtual appointment to go over your desired home criteria. Our agents service not only the Prescott area but all of Yavapai County. Please feel free to check out our online Google reviews. The Stephanie Woods Team at Better Homes and Gardens Real Estate BloomTree Realty 928-237-4455 prescottazhomefinder.com is happy to help.