Buying your first home can be incredibly exciting. However, it also requires a huge commitment and investment, and it can have repercussions for years to come.
That's why we want to share our three top tips to help first-time home buyers protect themselves during this crucial period.
1. Know what you can afford
The fact is, your mortgage is only a portion of what you will need to pay when you buy a house.
Home ownership comes with other expenses as well, including closing costs, taxes, property insurance, maintenance costs, and homeowner association fees.
Once you have a clear idea of all these items and their cost, you can compare this to your income and your current monthly expenses.
This way you can get an idea of the kind of home you can afford, without getting carried away, and without drowning in debt.
2. Choose your lender wisely
Choosing a lender is not something you should base on the lowest rate. A competent and trustworthy lender will offer you advice on how to improve and maintain your credit score.
The right lender will also help you choose the right loan program for you.
While it can be a good idea to start shopping online, it it often best to get recommendations from friends who have already worked with a lender, or from a Realtor you trust.
3. Don't overlook the details
There are many details that go into buying a home, and missing any of them can be a costly mistake.
For example, we always advise buyers to get a professional home inspection. This is not an appraisal, but will help you determine the condition of the home you are considering. An inspection will cost you between $300 and $400, but it can save you thousands of dollars down the line. It can prevent you from making a decision to buy a house that you would later regret.
A second example is understanding the fine print in the various contracts you will be signing.
If there's anything that isn't clear to you, talk to your Realtor and have it spelled out.
There are no dumb questions. The process of buying a home can be intimidating, and that's why professional Realtors are there to help.
These three quick tips are just the beginning. There are many other things you need to watch out for when buying your first home.
If you are simply curious about the kinds of homes that are available in the Cherokee County market right now, check out this complete listing:
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And if you need more advice, or you are ready to start looking for a home, get in touch with us at 678-569-4044. We love working with first-time home buyers, and we can help you get to your perfect new home with minimum hassle.
Ursula and Associates is a top Cherokee County Real Estate team associated with Keller Williams Realty Partners. For the past 20+ years we have specialized in South Cherokee County, Woodstock, Towne Lake, Canton, East Cobb, Marietta and Roswell and surrounding areas.
Reach us at 678-569-4044
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To find out more about the Woodstock, Canton, Roswell & Marietta Real Estate Market and the home prices here, call Ursula & Associates of Keller Williams Realty Partners at 678-569-4044 or search for homes for sale right now. Ursula & Associates has been specializing in the local real estate market since 1996.