It is time! You are now starting to think in buying your first home! Congratulations! However…there’re some things that can help you make the best decision, save you some money and make the process as easy as possible, here are some of the most important ones:
- Have always present how much you can afford.
- Save some money for after you move in, and consider a budget for closing costs, these are around 2-5% of your loan amount.
- Explore your Down Payment options.
- Nowadays you can make a down payment with less than 10% with the Federal Programs, but paying less at the beginning may cost you more at a long term.
- Think Long-Term.
- Always buy thinking about tomorrow, consider the type of property to buy (added maintenance costs and space play an important part for First Time Buyers), pick the right neighborhood, consider your future needs.