First Time Home Buyers “To-do-List”

First Time Home Buyers “To-do-List”

Here are things you’ll need if you are planning to own a home.

1. Save

You need funds for Down payment, Closing Costs, escrow for insurance and taxes.

2. Improve your Credit Score

To improve your credit score your bills should be up to date, do not cancel your credit cards, and make sure not to make any major purchases like a brand new car.

Tip: The Higher the credit score, the lower the interest rate.

3. Estimate what you can afford.

4. Get mortgage pre-approval

You should shop for the best deal and choose primary and backup lenders. Search for mortgage companies and get advice.

5. Create a list of what you want in a home to help you decide.

6. Choose a REALTOR.

7. Attend Open Houses, take photos and make notes. Creating a home shopping checklist is very helpful.

8. Narrow your choices, visit neighborhood amid day and around evening time to gauge traffic, noise, and so forth.You may test commute and consider resale value.

9. When you are done narrowing your decisions of homes. It’s a great opportunity to make an offer.Here are Common contingency opt-outs:

In the event that home appraises for less than mortgage;

In the event that inspection reveals flaws owners won’t fix;

In the event that you lose your occupation before the deal closes.

10. Once a decision has been made. It is time to schedule a home inspection.

11. Make final walk-through. Make sure that the light switches and sockets are working
properly. Inspect windows and doors if working. Lastly, test the faucets,
drains, and toilets.

12. Close, move-in and enjoy your new home!

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