Tips for First-Time Homebuyer

As you read this article, you’ll learn tips for buying a house:

• – Work out your budget to avoid going too far into debt
• – Getting pre-approved for a mortgage can help make the house search easier

Buying your first home is a considerable investment that requires lots of time, research, and money. The good news is, all the hard work is worth it once you’re settling down on your cozy couch or having a barbeque with your Nashville neighbors.

So, what is the first step to buying a house, and what must you do to prepare? Here’s everything you need to know before you scour the market.

What To Know When Buying a House

When you’re buying your first home, there’s a lot of paperwork, phone calls, and decision-making to do. As a whole, the process can be overwhelming. However, the right tips can smooth out an otherwise rocky road and get you to your dream home in Middle Tennessee more quickly.

Consider Your Needs

Before you even start looking at houses, you should create a list of needs. You can include space, number of rooms, kitchen details, bathrooms placement, and anything else that affects your comfort and convenience. This list will help you immediately eliminate properties that won’t work.

Stay Within Your Budget

Once you’ve figured out your budget, you need to stick to it. Purchasing beyond your means can put you in a precarious financial situation, especially if home values plummet in the future.

Get Pre-Approved

Many lenders offer pre-approval for mortgages, which can make the home buying process more manageable. Preapproval means the lender has looked at your financial information and agreed to lend you a certain amount, even before you choose a property.

How the House-Buying Process Works

Whether you’re sizing down after retirement or buying your first home, the process stays the same — it’s just the details you need to keep an eye on. Keep in mind that purchasing property isn’t quick, as house searching and mortgage applications take time. All told, it could be three to six months before you’re at your new address.

1. Decide Whether You Want a Custom or Move-In Ready Home

The first step to buying a house is deciding if you want to build it or choose a move-in-ready property. With the former, you get greater customization, but the latter has a shorter timeline.

2. Find Financing

Next, you need to apply for a mortgage. Fortunately, Capitol Homes can refer you to lenders.

3. Work With a Designer To Create Your Dream House

If you’ve chosen to build a custom home, you need to design it before construction can begin. Working with designers and architects is essential, as these professionals can provide invaluable insight to create a home that meets your needs, saves you money, and keeps your family safe.

4. Prepare for Closing

Closing day is when the magic happens — once the buying process is over, you’re officially homeowners. To prepare for this day, you should get a professional home inspection to ensure everything is up to code.

5. Move In

Once the house is in your name, you can start moving in and make the space feel like yours. Now, you can enjoy your home for years to come.

Capitol Homes is proud to provide affordable custom and move-in-ready housing in Nashville, TN. Whether you’re buying your first home or moving into a larger space for your growing family, you can find a fantastic property in our friendly neighborhoods. For more information or to start your journey, give us a call at 615-589-3190 or contact us online.

Image Source: Have a nice day Photo / Shutterstock

Categorised in: New Home Tips

This post was written by Capitol Homes