If you’re a first-time home buyer and you’ve been on the fence about whether or not now’s a good time to start your life in home ownership, this post is for you. This post provides practical advice on how to conduct a successful search for your new home, what to keep in mind during the entire process, and how to avoid some of the pitfalls that can make or break your experience. For more info go to https://www.jithomebuyers.com/la/new-orleans/.
Buying a home is more complex than purchasing something at the grocery store. Homes are often very complicated and require a lot of research. They can also be costly. For these reasons, I’ve put together the following tips to make the process more realistic and enjoyable for you.
Before you start your house search, take some time to ask yourself why you’re looking to buy a home in the first place. Keeping your reasons in mind will help you stay focused throughout the process and guard against getting wrapped up in unnecessary details.
First-Time Home Buyer Checklist
A few key things to check before the house search even begins are a credit report, a “big picture” budget, and your financing situation (or money available for a down payment).
Your Credit Report – Schedule time with each of the three credit reporting agencies (Experian, TransUnion, Equifax) to obtain a free copy of your credit report. These reports should be carefully read as they show where you stand with all three companies (including any accounts you’ve opened or closed in recent years). A credit report (also known as a “report of your credit history”) contains information about your outstanding debts, including your credit card payments, employment history and customer accounts. You will want to read over each report carefully, looking for any items that may indicate risk, and you should sign up for each company’s services to receive alerts about any new activity on your accounts.
Your Written Budget – Having a written budget will help you stay focused on what matters most when starting a house search: how much money you have available for the down payment on your new home and how much money you need to meet your overall buying goals throughout the process.