Terry Tanghe / Realtor

If you’re a first time homebuyer, here’s what you need to know about the home buying process! 5 things you should consider before buying your first home:
👉 FIRST TIME HOMEBUYER TIPS:
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Consider what your monthly payment will be- if more than 25% of your monthly income would go towards your home will you be able to afford it?
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Consider a fixed rate mortgage instead of an adjustable rate home mortgage, which is more volatile and leaves you vulnerable.
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Consider comparable homes in the neighborhood you are looking to buy in. Be sure you aren’t overpaying for the neighborhood.
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Can you put down 20% to avoid PMI? If not, calculate how much PMI you will pay until you hit a loan balance of 80% of the purchase price of the home.
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Create a mock budget using your monthly mortgage payment and additional costs you will incur being a homeowner, including insurance, property taxes, HOA fees, repairs, etc.

Does your dream backyard include a swimming pool, basketball court, or a screened-in back porch? Whatever it is, I'd love to hear it. Drop a comment below!

With the current state of the market you can never be too safe when making offers. Make sure to follow these tips to win your bid.
✅ Match the competing offer (or if you can, offer more)⁠
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✅ Limit or completely remove the contingencies on your offer⁠
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✅ Already be pre-approved for a mortgage⁠
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✅ Add an escalation clause⁠
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✅ Skip the inspection⁠
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✅ Be readily available to discuss⁠
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Questions? Leave them in the comments!⁠