If you are considering buying your first home you need good advisors. Buying a home can be stressful and complicated. A checklist for things that a home buyer needs for the first time should include a solid real estate agent, a reliable mortgage lender and a reliable and knowledgeable insurance agency . These advisors will help you through the process, but you should also do your own research. Below we offer some advice for the first time for buyers of houses.
Tips for First Time Home Buyers
Have a Budget Plan
The first thing to do when buying your first home is to draw up a budget. Know how much you can afford to pay for a house and what your monthly payments will be. Make a list of monthly expenses. Most experts recommend that housing should not cost more than 30% of your income. This is a great way to determine what you can afford to spend on the first house. Always keep in mind that in addition to the mortgage, there are other costs to owning a home. They can include tools, insurance and maintenance of the house and property. To get started, you should have some cash available for a down payment.
Choose a Real Estate Agent
Your real estate agent works for you and their advice is very valuable. To find the perfect real estate agent for you, shop around. Feeling comfortable with your agent is important so you should interview more than one. Recommendations from family or close friends can help. Your real estate agent must be able to answer all your questions and give good advice as well.
Your real estate agent may recommend a mortgage lender. That does not mean you should not do your own research as well. There are different types of mortgages and you want the one that best suits your needs. Have a credit report on hand when talking to mortgage lenders. Good credit can enable you to be pre-approved for a loan. Having a pre-approval letter from the mortgage company can show sellers that you are a serious buyer.
A reliable real estate agent also helps to buy first time home buyers homeowners insurance . You need to consult with insurance agents, but the broker may recommend reliable ones. Some research on your part is again a good idea. Find out what coverage you will need and what levels of protection you can afford.
Find Your Dream Home
Once you have established yourself comfortable with your real estate agent, mortgage lender and insurance agent, go out and find the amazing home. When you think you've found it, check out the neighborhood as well. Learn more about schools, leisure facilities, shopping, police and fire brigade. You and your real estate agent will be a great team, and soon you will be the happy owner of a home.
Do Not Forget Homeowners Insurance
Although a reliable real estate agent is the key when buying a home, a knowledgeable and reliable insurance agent is also important. Bogle Agency Insurance has been helping homebuyers buy home insurance for over 100 years. Our expertise is second to none. Your home is probably your most valuable asset and you want to protect it. We feel privileged to guide home buyers for the first time towards the best coverage for a home. Once you have made the decision to buy a home, call us at (201) 939-1076 for a time to talk to one of our experienced agents about your requirements for homeowners insurance.