Consider These 3 Tips When Buying Your First Home

Buying a home is a big commitment, but becoming a home owner is a wonderful investment. For many first-time home buyers, the process can seem intimidating. While working with a real estate agent can help alleviate some of the stress, there are a few simple tips to keep in mind before any first-time home buyer starts looking for their new home. Establish a Budget Before any new home buyer starts looking for a property, it’s best to set a firm budget. The last thing any first-time home owner wants to do is get locked into an unaffordable mortgage. A prospective home owner should examine bank statements, monthly expenses, and financial documents to determine what type of home they can reasonably afford. Once a firm budget is established, they can then begin the process of finding homes that fit within the budget. Consider Credit Scores While other factors do play a role, the simplest way for first-time home buyers to determine if they’ll qualify for a good mortgage is to look at their credit score. The higher the score, the more likely it is that the mortgage company will offer a good interest rate and a high loan amount. Lower credit scores may impact the amount the prospective home owner prequalifies for and may also result in a higher-than-average interest rate on the loan. Those with poor credit may want to focus on building their credit before committing to buying a home. Click here to view Robertson Homes’ Preferred Lenders. Figure out What Features the Home Must Have Before even heading out to look at a home, a prospective home owner should determine the must-have features of their dream home. Whether it’s a particular location or a backyard complete with trees large enough for a treehouse, knowing which features to look for will help narrow down the search and provide the realtor with guidance to find the right listings. If pre-existing structures fall short of expectations, first time home owners always have the option of building the home of their dreams. Whether they purchase an older home or choose to build a new house, a first-time home owner should follow these tips to make the process easier. Click here to learn more about the great new areas Robertson Homes is currently offering for first-time homeowners.