Thursday, May 24, 2012 / by Larry - Customer Support
9 Top Tips for First Time Home Buyers to Save Time and Money
When it comes to buying your first home in the Columbus, GA or Phenix City, AL area, then this is what every first time home owner needs to know. These tips will give you a great head start, save you money and a lot of headaches as well.
Tip #1 - Set a budget and stick to it. You may qualify for a higher amount than you can comfortable pay. Stick to your budget so that you don't struggle financially after closing on your dream home.
Tip #2 - First time buyers can get financial help. There are government grants that will give you up to $20,000 regardless of your credit that can be used towards your new home.
Tip #3 - Down payments are important. Start saving now because there's no real downside to making a bigger down payment and it will save you a lot of money in the long run as well as lowering your monthly payments.
Tip #4 - Find an area expert to help you. An area expert such as a real estate agent can answer all your questions about homes for sale in Columbus GA and Phenix City and find you the best prices for the areas you're interested in.
Tip #5 - Well before you plan to buy, check your credit. By looking it over before you start the purchase process, you'll have plenty of time to get it cleaned up by correcting any errors.
Tip #6 - Once you get the ball rolling, you should avoid financing anything or buying anything on credit. First time buyers are understandably excited about their upcoming home purchase but don't go finance the appliances for it. Changes to your credit during the buying process can cause you problems and possibly prevent getting final approval for your mortgage.
Tip #7 - Your debt to income ratio needs to be optimized to get the mortgage at the best rate. Once again, this is where your area expert can help either by providing that information or referring you to someone who can.
Tip #8 - When talking with your real estate agent, be clear about what is important to you so they best know how to help you. It may be schools, shopping, churches, fenced yard, a basement, 3 car garage, etc. Your agent should focus on making sure they are clear on your requirements as well as your “nice to haves” in order to do the best job for you.
Tip #9 - Go over your finances in detail before starting. There's more to home ownership than just the mortgage payment. You'll also have to pay home owners insurance, property taxes and maintenance on the house.
If you have any questions or need help with your home buying process, please call RealtyEdge Brokers today at 706.320.3343 or 706.570.7761.