A Home Buying Guide For First Timers

By November 29, 2017 No Comments

Purchasing your first home is a milestone, just like getting your license at 16, graduating college and getting married. It’s an exciting, yet foreign and somewhat intimidating time for most. Below are a few things to consider in regards to home buying for first timers to ease the process.

Start Saving Now

Start a savings account and begin putting money away now so that you have a hefty down payment when it comes time to purchase your home. Having a large down payment will reduce your mortgage rate and ultimately save you money in the long run. By having a small down payment you’ll be forced to obtain a mortgage for more than 80% of your home’s value, so you will have less of a return on investment. Making smart saving choices in the early stages of life is important for your future.

help with home buying for first timers

Don’t Rush The Home Buying Process

Home buying is just that: a process. Instead of rushing the process, adapt to it and enjoy the ride. Maybe you’re eager to move because you’re expecting a new baby, or maybe your lease is ending and you’ve decided to purchase instead of rent. Although these are viable factors, you should take your time in finding the home that’s right for you before purchasing, even if that means having to rent for a bit longer or stay with a family member. Attend as many open houses as you can and enjoy the experience!

Home buying techniques for first timers

Start A Maintenance Fund

With home owning comes headaches, especially when it comes to repairs. You are no longer able to call the complex maintenance personnel to come fix that leak or broken washing machine. Instead, all expenses are now coming out of your pocket. When home buying, you should consider setting aside some money just in case any emergency repairs emerge.

Home buying is an exciting, yet intimidating process as it is the largest leap into adulthood. By following the above recommendations, you should be in good shape to find and own the home of your dreams. Want to learn more tips for first time home buyers? Click here. Want to learn about the homes we have available in our master planned Southern Utah communities? Contact us.

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