6 Tips For a Successful First Time Home Buying Experience Without Putting Yourself in Financial Hardship

Stay Withing Budget

Buying your first home is very exciting! However, once you set your eyes on that perfect one, it can be tempting to push your budget just a little.  But that little could be just enough to put financial strain on your household finances when times get tough.  My goal is to find you a home you can be happy with at a price that will keep your budget within your current financial means.  Sometimes that means letting go of that perfect house and looking for something else. 

Set Yourself Up For Success

So before you set your mind on a home and start arranging furniture in your imagination, first set yourself up for a successful home buying experience with the tips below:

1. First and foremost, get a pre-approval quote from an experienced and qualified mortgage banker. That will give you an idea of what price range to start looking in.
   
   
2. Take 80% of your pre-approval letter amount and use that as your budget limit.  This will leave you room for extra expenses that come along with owning and maintaining a home.
   
   
3. Make a wish list of your must-have and nice-to-have features in a home. Having a wish list and a no-list make the home search much more efficient in finding you something that fits your needs and wants within your budget.
   
   
4. Be flexible and open-minded.  A house is not yours until the title is signed and the keys are in your hands.  Sometimes, you may lose a potential house by being outbid by another buyer or because of finances falling through.  Keep your budget in mind when deciding whether or not to submit a higher counter offer. Also, be prepared and willing to move on and continue your search.
   
   
5. Prepare an after-purchase budget to help you settle into your new home.  Whether you plan on purchasing new furniture or making any fixes or improvements to your new home, keep funds for those expenses in a savings account separate from your daily expenses. That way you can make your new house feel like home without worrying about having enough for your new utility payments or other expenses.
   
   
6. Ask me questions! No question is out of limits, and as a first-time homebuyer many things will be new and strange in the process.  Always feel free to contact me with any questions of comments so we can stay on the same page and get you into your dream home quickly and smoothly.
   
   

Ready to go find your dream home? Let’s start looking!