Are you interested in purchasing a home, but the idea of going through the process seems stressful? Getting yourself ready is crucial, especially if you’re a first-time buyer.
You’ll definitely need a checklist for this major life decision. You can’t just go out there totally unprepared. You have to know what you need to know and what you must plan for so you can find the best deals available to you.
Doing your research also means that you are shortlisting potential moving companies that will be able to help you with the process. One option that you can explore is getting in touch with professionals at man and van Fulham. Talk to them about your entire set of requirements and get an affordable quote from them.
For more details on what you can do, continue reading to find the only first-time home buyer checklist you will ever need before closing a deal.
Save for a Down Payment and Closing Costs
If you’re a first-time home buyer, you know the importance of saving for a down payment. This would be about 20% of the total house price that you can afford.
You’d also like to save up for closing costs, which are usually between 2-5% of the purchase price, as well as for unexpected repairs.
Fix Your Credit Score
There is no one-size-fits-all answer when it comes to fixing your credit score, but there are definitely some key things you can do to give yourself the best possible chance at a high credit score.
For example, check your credit report regularly for accuracy, pay your bills on time, keep your credit utilization low, and don’t apply for new credit unnecessarily. By following these simple steps, you’ll be well on your way to a great credit score in no time!
Get Pre-Approved for a Mortgage
Before you even start looking at houses, you need to get pre-approved for a mortgage. You can also check out this link https://consilium-ifa.co.uk/mortgage-advice/ for a good place to start. They can help you get a better idea of what you can afford and put you in a stronger negotiating position when you find the perfect home.
The lender will ask you about your income, debts, assets, employment history, etc. Once you have all of this information, they will give you a pre-approval letter that indicates how much they are willing to lend you.
Find a Real Estate Agent You Trust
A real estate agent will help you navigate the process of buying your first home, from finding good prospects to negotiating the purchase price.
You can also ask for referrals from friends and family, and interview several agents before making a decision. A well-chosen agent can help make your first home purchase a success.
Do Your Research
As a first-time home buyer, it’s important that you do your research in order to find the best possible deal on your new home. Look into the different areas you’re considering as well as the different types of homes that are available.
This will help you find the perfect home for your needs and budget. In any case, the idea is to know what to expect in the market so you can make a better buying decision.
Follow These First-Time Home Buyer Checklist Today
This list may be short, but it’s all the help you’ll need as a first-time home buyer. Of course, you’d like to be enlisting the help of your agent for most of these areas, but you get the point. Buying a home is a serious decision.
With that, make sure you take each step of the process with care and don’t ever feel rushed into buying a property you’re not ready for.
Would you like more lists like this? We can help you with a lot of things! Just keep looking in our blog and you’ll find more guides to assist you with your everyday.
