Guest Author - Rose Mary
There has never been a better time to think about purchasing a home. Now is the time to get things in order so you can take the plunge at some point soon. It is now that you re-evaluate budgets and lifestyle in order to know whether this would be a good move.
If the decision has been made and you know it is time to purchase a home, it is now time to get prepared. Start by learning about home buying, talk to real estate agents and read as much as you can about mortgages. Learn the different programs that are available and what you can be approved for. Do you have enough savings for a down payment? If not, are there housing grants or loans available in your area? Are there family members that can give you a gift towards the down payment?
Most first time home buyers will choose FHA mortgages because they have a low down payment and accept down payment assistance. There are other perks with FHA mortgages which include easier credit qualifying. On the other hand, anyone who is part of the military usually chooses a VA loan because they offer no down payment and also other perks. This is why knowing the different mortgage programs available is so important.
Another important fact to know is the neighborhood. This is vital information because if you end up not liking the neighborhood after you purchase a home, you may very well be stuck for a long time. Check the neighborhood before you purchase. See where the store are located, where the schools are, the parks and the entertainment. Anything that has to do with your lifestyle. You will not want to travel an hour away to go for a simple walk because you chose the wrong neighborhood.
Lastly, don't kid yourself or anyone else. Make sure that you have enough money to live in the home comfortably. Whether it is a home, condo, townhouse or mobile home, there are expenses to be paid. Make sure that you are ready to take on this type of responsibility when you make the decision. Be ready to sacrifice in order to pay bills. Items such as normal maintenance can be costly as well as heating the home. Make sure that you are ready to take this step.