Tips for First Home Buyer’s | Stellar Finance Group Buying a home is a big decision, but it doesn’t have to be overwhelming. By following these tips, you can increase your chances of success and find the right home for you.
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⚫ Get pre-approved for a mortgage. This will give you an idea of how much money you can borrow and what your monthly payments will be. It will also make the buying process go more smoothly, as sellers are more likely to take an offer from a pre-approved buyer.
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⚫ Save for a down payment. A 20% down payment is ideal, but you may be able to qualify for a loan with less. The higher your down payment, the lower your monthly payments will be.
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⚫ Find a good real estate agent. An experienced real estate agent can help you find the right home for your needs and budget, and can negotiate on your behalf.
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⚫ Don’t be afraid to negotiate. The asking price is just a starting point. Don’t be afraid to make an offer below the asking price, especially if the home has been on the market for a while.
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⚫ Get a home inspection. A home inspection is a must for any home buyer, but it’s especially important for first-time buyers. A home inspector will identify any potential problems with the home, so you can make an informed decision about whether or not to buy it.
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⚫ Be prepared for unexpected costs. There are a number of unexpected costs associated with buying a home, such as closing costs, appraisal fees, and moving expenses. Be sure to budget for these costs in advance.
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