Posted on Aug 7, 2022
What would you put on a checklist for a first time home owner who has no knowledge regarding buying a home?
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I would like to buy a home( not right now) but I have no knowledge on what to do. I was born and raised in the south bronx of New York City surrounded by others who's knowledge and drive is limited to the comfortability of remaining where they are...apartment buildings that are in poor conditions. I'm in my mid 30s with 2 sons who I want provide a house for. Even if I don't make this happen I would like to have the steps on how to buy a home so I can write it and give them the blueprint for the future generations of my family.
Posted 2 y ago
Responses: 14
Start with building a savings account that will become your down payment. I also suggest you do a little research into what is involved in getting and maintaining a mortgage and a home...what sort of bills. Find a bank you trust (or a credit union- I recommend Navy Federal as they are in all 50 states and work with VA loans all the time but there are others as well) and many of them have checklists you can use. There are also calculators that will tell you how much "house" you can afford based on your income and other bills. Learn the "language" What's an escrow account? What is it used for? Stuff like that.
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My first step was selling my old house, and I used https://www.thepropertybuyingcompany.co.uk/ to sell it for cash. This made the process much smoother.
Once that was done, I checked my finances and got pre-approved for a mortgage to know how much I could afford. I made a list of must-haves and nice-to-haves for my new home and researched neighborhoods. Finding a good real estate agent was crucial; they helped with inspections, making offers, and handling paperwork.
Before closing the deal, I hired a home inspector to check for any issues. Reading all the final contract details carefully was also important. Planning ahead made the home-buying process much more manageable.
Once that was done, I checked my finances and got pre-approved for a mortgage to know how much I could afford. I made a list of must-haves and nice-to-haves for my new home and researched neighborhoods. Finding a good real estate agent was crucial; they helped with inspections, making offers, and handling paperwork.
Before closing the deal, I hired a home inspector to check for any issues. Reading all the final contract details carefully was also important. Planning ahead made the home-buying process much more manageable.
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