A Secret Checklist for First-Time Homebuyers
Buying your first home is scary – that’s a fact. While it’s normal to be anxious before making such a huge, often life-changing purchase, it does help to be prepared. Rather than succumbing to sweaty palms or sleepless nights, first-time homebuyers should simply follow our Homebuying 101 checklist:
Think It Over
If you’re feeling nervous about buying your first home, an idea from personal finance expert Suze Orman can help! Try performing a “trial run” to see if you can truly handle the cost of a home. For a few months, set aside the difference between what you pay now for rent and what it will cost for you to pay for your home. Be sure to include property taxes, home insurance, utilities, etc. in your estimate. If you can save the difference, still pay your bills, and handle your other expenses, you can probably afford to own a home! What’s more – the money you save can even be put toward your home’s down payment!
Consider Your Loan Options
Before you start shopping for a home, it helps to know your mortgage or other loan options. For many first-time homebuyers, Federal Housing Administration (or FHA) loans are the ideal answer. FHA loans are easy to qualify for, and are very affordable. Down payments can be as low as 3.5% of the purchase price, and most of your closing costs and fees are included in the loan. Thanks to FHA loans, quality homebuilders like Tradition Homes are able to offer great deals to first-time homebuyers. For more information on FHA loans at Tradition Homes, click here.
It pays to think through all of your options when it comes to buying your first home. You should never underestimate the value of a good neighborhood, quality construction, and a great contractor. Finding the best value may not necessarily mean discovering the deepest deal, but at Tradition Homes, we offer the best of both worlds. Check out our extensive collection of move-in ready homes perfect for first-time homebuyers in Greensboro, N.C.
Don’t feel pressured to race to the finish line (in this case, the signing line). Instead, take your time and ensure you have taken all of the extra steps needed to establish peace of mind. This could mean hiring a certified home inspector or even getting second, third, or fourth opinions from friends and family.
Once you’ve reached the end of this checklist, you should feel more confident come signing day. Above all else, we urge you to consider a different kind of homebuilder, one who values honesty, stands by its hand-built craftsmanship, and is distinguished by its homes’ enduring quality. In other words, we encourage you to consider a quality and value homebuilder like Tradition Homes.
Congratulations and Good Luck!
Your Friends at Tradition Homes