From finding the perfect location to financing your purchase, shopping for your first home has challenges. It is no wonder you are concerned!
#1 Can I afford it? If you are asking this question, you are already on the right track. A savvy first-time home buyer knows that there is more to owning a home than just a mortgage. Property insurance, taxes, homeowners association dues, maintenance, and higher electric and water bills are just some of the costs that people tend to overlook when shopping for a new place. And that doesn’t even include what it will cost to purchase a lawnmower, paint the interior a shade you prefer, and other expenses you didn’t have when renting.
#2 Am I going about it the right way? Purchasing a home doesn’t begin with shopping for a new house, it begins with securing financing. Often, first-time homebuyers are afraid to get pre-qualified because they don’t want to be turned down or only qualify for a loan smaller than expected. While that is certainly bad news, it is a waste of time to look for homes out of your price range. Don’t worry though, buying and even building in our area can be quite affordable if you go with the right company.
#3 Can’t I just do this alone? If you spend time browsing the internet for a new house, you are forgiven for thinking you can just do it all without professional help to save some money. However, much more goes into purchasing a home than just picking out your favorite. As a first-time homeowner, you don’t yet know exactly what it entails. This includes contracts, financial documents, and other complicated documents.
#4 Should I use all my money for the down payment? This one is tricky. A higher down payment means a lower mortgage, right? Yes, but if you spend everything on a down payment you won’t have funds left to actually move in and live there! Spending all or most of their savings on the down payment and closing costs is one of the biggest mistakes first-time homebuyers make. It is risky to deplete your savings, so it’s much better to pay a slightly higher mortgage or chose a less-expensive house.
Do any or all of these sound familiar to you? Purchasing a home is extremely stressful, whether you’re doing it for the first time or this is your tenth time doing it. If you’re looking for a way to make it simple, the answer is clear- Beattie Development. We have options for any and all homeowners, even those who have never purchased a home before.
If you see a house on the market you are interest in, the Beattie Realty Team can arrange a showing and help you put in an offer. If nothing on the market is exactly what you are looking for, we have recently developed the RRB Collection specifically for first-time homeowners like yourself. These homes can be built on your lot and begin at just $169,000, so they are extremely affordable. To learn more about Beattie Development’s RRB Collection and discuss whether the Maci, Eva, Reese, or Ross may be right for you, call our office at (239) 994-6187. You can also email sales@beattiedev.com.