Home and Family

Building A Family Respite: Tips For Purchasing Your First Home

Buying your first home is no laughing matter.  It’s probably the most expensive investment you have ever made in life, and the process isn’t free of complicated steps and cryptic language.  It is best to prepare yourself before you begin the process of purchasing your first home.

Get the best deal, the most suitable property, and your place of respite all in one transaction, but research the standard procedure for purchasing a home before you dive in head first.  Start learning now, and check out a few helpful tips for purchasing your first home.

Get a grasp on your credit history

First things first, you cannot simply go out tomorrow and purchase a home.  There are steps that need to be taken quite a bit in advance. The most important of those steps is to get a grasp on your credit history.  

Most people are not super aware of everything on their credit reports, and they should be.  Make yourself aware. If you see charges that do not belong on your credit report, dispute them immediately.  

On the flipside, if you see a bunch of legitimate charges, you should work to get them paid off before trying to purchase a home.  

Get your finances in order

You will have to present a sizeable down payment to purchase a home, so work on getting that together before you start the search.  It is encouraged that homebuyers have at least a ten to fifteen percent down payment.

Also, avoid moving your money around for at least six months to a year before you purchase a house.  Moving your money around looks like unstable financial activity to the banks.

Invest in a realty agent

A realty agent will help you find the best deal possible in the area you want.  Hiring a realty agent means that you won’t have to do all the hard negotiating yourself.  You realtor lead you through the process of buying a home.  

Consider your plans for the property

Before looking for a specific property to purchase, consider your intent for the home.  Are you planning to sell it after a few years? Are you planning to lay roots and raise a family in the home?  Do you want to put a personal touch on a fixer upper, or buy brand new?

Search, look, stalk, visit

Once you finally do begin searching for the right home for you and your family, don’t stop at the first house you see.  Search, look, stalk, and then visit the home. By “stalk,” we mean drive around the neighborhood, and see what’s happening.  Get a feel for the energy that drives the community.