First Time Home Buyer Tips
First-Time Home Buyer Tips
A first time home buyer guide could go on for pages and pages as there are countless things to take into consideration and to prepare for when buying your first home. So as not to overwhelm you and to offer a manageable number of first-time home buyers’ tips, the friendly real estate professionals at Southern Title, Inc. have compiled a list of a few suggestions for the first-time home buyer.
Having been in the business for over three decades, the real estate transfer specialists at Southern Title, Inc. do know a thing or two about what’s involved in buying your first home. We’d like to offer these tips to help you know what to expect as you being the exciting journey of buying your first home.
- Be sure you can afford to buy a home
- Get your finances in order (know your credit score, pay down credit card debt, etc.)
- Don’t fall in love with the first house you look at—look at a lot of houses and pay attention to any “red flags.” If a house doesn’t “feel” right, then go with what your gut is telling you.
- Learn real estate lingo such as “bait rate,” “basis point,” “closing costs,” “FHA,” “FRM and ARM,” “GFE,” “TIL,” “per diem interest,” “underwriting fees,” and “warranty deed.” This is by no means an exhaustive list but knowing what these words and acronyms mean is a good start.
- Find the best mortgage that fits your needs by starting the research early and educating yourself on your financial situation and what you can afford.
- Find a realtor you like and trust and go house shopping.
If you have questions about residential or commercial real estate purchases or transfers, please contact Southern Title, Inc., toll-free (800)848-5393 or fill out our online contact form. One of our trained professionals will be in contact with you soon.