You’re tired of paying your landlord’s mortgage and know that now is the best time to purchase — and you’re finally ready to purchase your first home! This is an exciting milestone in your life, and you know it’s also the biggest purchase of your life. To help you make your decision, here are five first-time homebuyer tips:
1. What can you afford. It’s important that you shop in your price range. It may be tempting to view homes that are outside of your budget, but remember — you have to stick to your budget. Think of your monthly mortgage and what you can afford. Don’t forget to add in property taxes, insurance and homeowner fees, if they apply. You will want to have some money left over in your budget for maintenance and future improvements.
2. Get pre-approved. Talk to your Wisconsin Mortgage Corporation Loan Officer and get pre-approved. A loan officer will review your finances and issue you a maximum sale price that you can afford. (This doesn’t mean you need to max out your budget!)
3. Your perfect location. Where do you want to live? Check out different communities and see how much homes are selling for. (Remember to only look at homes in your price range!) Think about your commute to work, the school district in town and other recreational opportunities.
4. Wants VS Needs. You may want a pool in your backyard, but you don’t need it. Prioritize your wants — bedrooms, baths, garage, etc. This way you have a list of the items that your home absolutely needs for you to see it.
5. Choose a Shorewest Agent. Your Shorewest Agent will work for you, listening to your needs and concerns to help your choose the right home. They will be there for you every step of the way, ensuring for a smooth transaction.
When you’re ready to purchase a new home, contact a Shorewest Agent today!