Before you can start looking for your dream home, you’ve got to do some legwork so you’re in a good position to buy. Let’s start right here.
1. Pay off all debt and build an emergency fund. Okay, when you asked for first-time home-buyer tips, you probably didn’t expect this one. But it is hands down the most important. Owning a home is much more expensive than renting, even if your monthly house payment will be less than your current rent. When…
1. Make a competitive offer (within your budget). It can be hard to know how much you should offer for your first house. That’s when you rely on your real estate agent’s expertise. Ask them to help you make a competitive offer that’s within your budget and close to the home’s value. Don’t make an…
Be ready if you need to prove the value of your possessions Making a list of everything you own may seem like a daunting task, but there are many ways to get started on a home inventory that don’t have to feel like a chore. Especially for insurance purposes, every homeowner, condo owner, or renter should…
1. Avoid the worst mortgages for first-time home buyers. A huge benefit to being a first-time home buyer is that you’ve never fallen for an awful mortgage—and you don’t have to! Many first-time home-buyer loans only make you put a little money down, but they cost tens of thousands of dollars morein the long run….