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WHAT TO CONSIDER
Determining where you want to live is the first step to buying a home. There are factors to consider as you narrow down your selection. Evan is here to answer any questions you have along the way.
THINGS TO CONSIDER BEFORE YOU BUY YOUR FIRST HOME
Understand the process to buy your first home.
General steps during the home buying process:
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Save for a down payment.
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Apply for pre-approval for a mortgage.
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Once you find the perfect home, make an offer.
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If the seller accepts your offer, hire a home inspector to make sure the house is in good shape.
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Attend the closing, during which you sign all the mortgage paperwork, make the down payment and get the keys.
Make a list of what you want in a house.
Do you want to live in the city, suburbs, out in the country or closer to work?
How many bedrooms and bathrooms will you need? Do you want extra space for a workshop or home office? Do you need a two-car garage?
Research the school districts and other kid-friendly locations.
Other considerations for families include nearby parks, playground and pools, traffic and sidewalks, and the general safety of the neighborhood.
Decide if you can handle a fixer-upper.
When home prices are on the rise, you might be tempted to invest in a fixer-upper. If you’re handy, you can pay less up front, make necessary repairs and upgrades yourself, and then sell for a handsome profit.
Save up for your down payment.
The more you can offer as a down payment on a house, the less you have to borrow from the bank. By lowering the principal of your loan, you can also greatly reduce the amount you ultimately pay in interest.