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Are you planning to purchase your first house? Congratulations! Buying a house can be both an exciting and overwhelming time. For first time home buyers, there is likely more mystery behind the home buying process than for traditional buyers. Are you interested in learning the top tips for new buyers? Check out these tips for new buyers below!
Tips for Buying a Home for the First Time
- Start saving for the down payment early:
One of the highest initial expenses with purchasing a house is the down payment. If you know you will want to purchase a house within the coming years, start saving now for it. While it used to be common to put 20% down, many lenders now offer programs that allow as little as 3%.
- Check your credit score:
As soon as you decide to start looking for a house, check your credit score. If you notice any mistakes or issues that need corrected, address them as soon as possible. A higher credit score can help you to have an easier time getting approved for loans.
- Determine how much you can afford:
Next, it is time to determine how much you can afford. There are many different calculators out there that will help you to determine the maximum cost of a house you can afford when you take fees into account.
- Don’t forget to account for utilities:
When you’re budgeting for your house, it is important to take into account utilities. If you moved into a bigger house than you’re used to, ask the real estate professional what you can expect for your utility bill. This can help to prevent sticker shock later on.
- Get pre-approved for a loan:
Once you know you’re able to afford the down payment, get pre-approved for the loan. This step will show sellers that you are serious buyer. As a first-time buyer, this can help set you apart from other interested buyers.
- Make a list of your non-negotiables:
Do you want the house to be located in a neighborhood close to a school? Are you hoping for a backyard pool? Make a list of various non-negotiable features you’d like the house to have.
- Hire a realtor:
Using a realtor can really speed up the house buying process and can even give you access to information about houses before they are on the market. When looking for a realtor, ask for a referral from friends. This will ensure you are getting a realtor that is experienced in your area.
Keep Your New Home Organized with a Storage Unit Rental!
When you just recently purchased a new home, one of your top priorities is making your house look nice. One of the best ways to do that is to keep your home neat and organized. With a storage unit rental, you’re able to keep items you do not need on a day-to-day basis out of your house and in a secure location.
ezStorage has storage facilities all throughout Virginia and Maryland, including in Baltimore, MD, Columbia, MD and Washington, DC.
Our storage facilities offer both traditional and temperature controlled storage unit options. Reserve a 5×5, 5×10 or 10×10 storage unit today!