Black & Cherry Real Estate
November 7, 2018
Is it your first time purchasing a home? It can be very overwhelming, TRUST ME! Where do I start? HOW do I start? Those are just a few questions most first time home buyers are asking!
In this article I am going to give you a couple of tips on how to make the process go a little smoother! When purchasing your first home in the Las Vegas area, you are going to want to sit down and really think about the area you want to live in, and how much you are willing to spend on your first home!
When thinking about purchasing, the first thing you are going to want to do, is start SAVING! Yes saving as much as you can to make your down payment on your home a lot easier. Most people do not start worrying about saving until it is too late! The more you are willing to put down on your new home, the less your loan will be, and the less your mortgage is!
If you want to avoid paying private mortgage insurance, or PMI, you will want to have at least 20% of your future homes value to put down! Even if you are not ready to purchase for about a year, putting 100$ per month into a new home fund will truly add up and it will make it way easier on you to get your down payment taken care of!
After you have started saving, DO NOT RUSH THINGS!! Life comes with all sorts of circumstances, but if you wait until you truly love a house, and its price, that will make purchasing a home a lot easier! Jumping into a home that you only half love will usually not turn out in your favor, you will start to hate things you loved about your home when you bought it.
Be Patient, your home might not even be on the market till your 100 percent ready to purchase! Explore every option before diving in! While you are looking for your Las Vegas home, pay full attention during the inspection. While you are with the inspector, don’t be afraid to start checking things yourself.
Look at little things like does the toilet flush properly, is the water heater old, little things that can turn into big things when you are not prepared for them! After you have fallen in love with a home, do not be scared to get a third opinion.
Bring a friend, or family member and have them walk through the home looking for things that might cause a little trouble down the road, we have all been in the “love-Bird” stage with a home and have skipped over things that might make you change your mind, but you do not want to miss little things!
Looking for your first home can be so fun, but so stressful at the time! Take your time, do not rush it if you are not in love, and start saving as soon as you can, so you are as prepared as you can be!
Happy Reading!
