First Time Home Buyer Here are Few Tips To Get You Through It

Start Saving Early - Buying a home is one of the biggest purchases that you can make, and you’ll want to be prepared. Consider what type of down payment you’ll need, closing costs, move in expenses and more. Having a plan will make life much easier!

Figure out what you can afford - www.remaxtwincity.com has a mortgage calculator that will show you what your monthly mortgage payments are going to look like based on your down payment and the purchase price of the home. Be sure to think about things like your income, debt, and general cost of living in your desired area. This will save stress down the road.

Make sure you credit is solid - Your score is going to impact whether you’re approved for a mortgage, and it also plays a part in the interest rate that you’ll receive. You can get free copies of your credit report to get a sense of where you’re at currently and how you can improve. Leave your credit cards open with a low balance and pay your bills on time. Following these steps will help to raise your score.

Get Pre-approved - By obtaining a pre-approval letter, you’ll show sellers that you’re serious about purchasing a home. This will give you a potential edge over buyers who haven’t thought to do this.

Find the right agent - A great agent will work hard to find the perfect home for you. They take your needs into consideration and guide you through the process of buying a home that makes sense to you. At RE/MAX Twin City, we have over 400 highly trusted agents ready to choose from. www.remaxtwincity.ca/agents.

Pay for a home inspection - A home inspection ensures that a thorough assessment of the building’s structure and mechanics has been done. You want to make sure that there won’t be any surprises once you’ve decided to purchase the home as they can be quite costly.

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