7 Tips for First-Time Home Buyers

If you are getting ready to take the plunge into homeownership, there are a few things to keep in mind during the process. While this is an exciting time in your life, it is important to keep your emotions in check while you search for a place to call home. Your team of real estate agents in Eldon, Missouri want to ensure you are prepared to for this milestone in your life. Devine & Associates have provided some helpful tips for first-time home buyers below!

Tip #1: Check your Credit

Your credit score has a big impact on purchasing a home. A credit rating helps to determine the loan percentage rate of your house. If you plan to buy a house in the near future, work toward improving your credit score and keep an eye on your credit standings.

Tip #2: Think About Home Needs

Make a list of all of the wants and needs of a home, before you start your search. This can help an agent get an idea of what you are looking for in a house, that way he or she can show you properties in which you may be interested. This is also a great tool to help narrow down different homes, after you have looked at various properties.

Tip #3: Organize Documents

A mortgage professional may ask you to provide a number of documents, in order to qualify for a home loan. Try to keep your files organized, that way you can easily access any documentation that is needed, on a short notice.

Tip #4: Get Pre-Approval

Pre-approval is an important step, when purchasing your first home. Getting pre-approved help show you what price range you can afford, which can help narrow your home search down! This can also be a helpful tool for your real estate agent, to ensure we don’t take you to a property that is out of your price range.

Tip #5: Establish Down Payment

If a down payment is needed to purchase your home, it is a good idea to think about how you are going to pay for that. Whether you have been putting money aside or need to come up with a savings tool now, establish how you are going to pay for a down payment.

Tip #6: Look at Different Types of Homes

If this is your first home, you may not be familiar with dwelling types. There are condos, single-family homes in town, and farm properties, to name a few. When you look at the different types, it can help you narrow down what type of property in which you would like to live.

Tip #7: Think About ALL Expenses

While you may have the home price amount in your head, it is important to think about other expenses that are associated with homeownership. Be sure to inquire about property taxes, average electric expense, and factor in cable expenses when creating a budget for your new house.

Now that you have read up on these first time home buyer tips, you are ready to purchase a home near Eldon, Missouri. While these tips can apply to almost everyone, it is important to keep your emotions in check, when searching for a home. Being prepared to purchase your first home can help the home buying process flow smoothly. If you are interested in buying your first house or piece of property, contact Devine & Associates today! We look forward to helping you find your dream home near Eldon, MO!

Where Your Best Interests and Our Best Efforts Meet!

(573) 392-9900
203 E. 10th St., Eldon, MO 65026

(573) 207-8407
213 N. Main St., Laurie, MO 65037
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