Trying to decide whether you should be renting or if it’s time for you to buy a home can be a difficult decision. Renting can feel like you’re just throwing your money away and you have no sense of ownership. Buying a home is an expensive investment; however, it’s an investment you can be living in and have ownership of for the next 30 years, while building equity.
Buying your first home should be an exciting time, but on the other hand can feel scary because you’re likely going into it fairly blind without any education or experience. First time homebuyers have a lot of fears: not being able to afford a house, making costly mistakes, and it being difficult & stressful. We understand why these fears exist, which is why we’ll be there to walk you through the process, every step of the way. We want you to be educated and confident because this is a big decision and investment. Your mortgage will be the largest cost in owning a home but there are other things you should be financially prepared for like possible HOA fees, taxes, and homeowner’s insurance, flood insurance as well.
Here are some tips to ease you into the process: Determine how much house you can afford then start living like you have a mortgage to pay every month based on your calculations. This will allow you to see if what you think you can afford truly matches your budget and lifestyle. If you haven’t already started saving for a downpayment we recommend you start. Improve your credit score; this is a determining factor in whether or not you can get pre-approved. Next, it’s time to reach out to your Loan Officer to get pre-approved; that’s where we come in! Once you know you’re pre-approved, hire an excellent real estate agent to help with the house hunt. With a solid team around you, you will find your dream home!
We like to educate our first time homebuyers so the experience can be pleasant and exciting for you and not feel so scary & foreign, because with Tabor Mortgage Group it doesn’t have to be.