The Complete First Time Home Buyers Checklist


Virginia beach homes

Are you considering making a move to the Virginia area? In 2012, Virginia ranked #4 in the nation for K through 12 schooling, making it a great place for children to receive schooling, and Expansion Magazine named Norfolk one of the top 10 markets for business relocation and expansion. Whether you are apartment hunting or buying a new home, using a buying a new home checklist is an easy way to ensure you stay organized for your moving day.
First on our buying a new home checklist:

  1. Readiness – Deciding to buy a new home is a huge deal. Be sure you are truly ready to take this on, both financially and mentally. Evaluate the cost of expenses such as home insurance, property taxes, utilities and repairs.Quick tips for new home buyers for assessing readiness is to save the difference financially, between what you pay monthly now, and what it would cost you to own a home. If in six months you are able to pay bills monthly, you are financial secure enough to take on this responsibility.
  2. Loan Types – MSN recommends that potential home buyers calculate what their total cost of living will be before purchasing a home to avoid financial problems. Before shopping for a home, educate yourself about the types of loans available to you. Consider the different types of loans available so that you can choose the one that best fits your particular situation. Are you a first time home buyer? First time home buyer loans are available, and many banks offer first time home buyer incentives as an added bonus. It’s always wise to compare loan types, terms and down payments before choosing a loan.
    Coming in as number three on our buying a new home checklist is:

  3. Understanding the Pre-Approval Process – There are a few reasons why getting pre-approved made our buying a new home checklist. Pre-approval tells sellers that you are serious about buying a house, and It also shows that you have the finances to back your offer. Evaluating your finances will also help you to determine how much of a mortgage payment you can reasonably afford each month. That way, you can look for a home in your price range.

By following our buying a new home checklist, you ensure that you find the home of your dreams, while also being able to remain financially stable. Get more info here:

Leave a Reply

Leave a Reply