Buying A First Home: 4 Essential and Easy Steps

by | Dec 3, 2019 | 0 comments

This post is editorial content and may contain links through various affiliate programs such as Amazon, which means I may receive a commission from any links you may click on and make a purchase from.

Buying a first home is extremely overwhelming. While we had an awesome realtor who walked us through everything step by step, and we did a lot of research ourselves, it was still a lot to take in.

Along with getting excited about the adventure that lies ahead of you, it is perfectly natural to feel a little fear or agitation over it too, after all you are stepping into the unknown and mortgages are a significant financial undertaking.

When we first started hearing the words, mortgage, homeowners insurance, property taxes, etc., we started to really freak out. It was the uncertainty of everything. We had been renting for several years so signing on that dotted line to own our own home, was scary, while also being exciting.

We'd finally be able to have our own space to decorate, paint, entertain, etc without having to worry about neighbors that we shared a wall or ceiling/floor with. The kids would both have their own bedrooms for the first time in almost 10 years and I'd have my own space for working.

Buying a first home is extremely overwhelming. From starting the process, to searching and then finally purchasing and moving in, it's a lot to take in. - Old Farmhouse Living

4 Essential and Easy Steps To Buying A First Home

Get your finances in place

The first thing that you need to do is get your finances in place. You could go directly to a mortgage lender or you might choose to use a mortgage broker, such as Altrua Financial, to get your advice. They will be able to tell you how much you can afford to borrow based on your current income and expenditure and credit report.

Your mortgage lending, along with your saved deposit will be the total that you have to offer on a home. Armed with the amount that you can afford to purchase at, along with an understanding of how much this will cost you to pay back every month, you can begin looking around for your home.

Define all that you want from your first home

When it comes to buying a first home, or even a second home, know what you want. Draw up a list of everything that is absolutely essential to you and then think about those things that you would like to have but are willing to compromise on.

You need to think about things such as location, property size, any exterior space, the parking situation, style of home, number of rooms and so on.

Enjoy the property hunt

This is the fun bit! You can get out there and start looking at potential properties that suit your list of requirements.

If you are open to carrying out some remodelling and work on your new home then that will add an extra dimension to your property hunt. You will be able to view properties that other people might choose to pass over and you might well be able to bag yourself a bargain home. Do just ensure that if you go down this route that you do budget properly for any home renovations to ensure that you are going to end up with a good deal.

Make those offers, applications and plans

When you buying a first home for your family, you can make an offer on it. When we put our offer in for 3 homes, we also wrote a letter to the owners telling them what we loved about the home and introduced ourselves a little. Sometimes, if you write a letter, it helps the previous owners know a little bit more about the family who is moving in.

If your offer is accepted then you can begin making applications and plans. You will need to place a formal mortgage application now and instruct a real estate attorney to manage your purchase for you.

You might also want to hire a moving company and you can start planning any furniture and remodelling purchases, though we would recommend that you wait until the sale is going through before placing any orders.

Since we were so ready to move out of our apartment, we started packing super quick, even before we found our home. I was having surgery, so I wanted to have as much packed and ready so that my husband and our sons didn't have to worry about much. I'm glad I did that too, my surgery ended up getting moved to just 10 days before we moved into our home, so preparing helped a lot.

Buying a first home is extremely overwhelming. From starting the process, to searching and then finally purchasing and moving in, it's a lot to take in.

Affiliate Notice

Some content you will find on my site may be a paid post.
 You may also find affiliate links on this website! As an Amazon Associate & member of other affiliate networks, I earn from qualifying purchase.
To read my disclosure notice click here.

Mental Health Hotlines

I’m extremely upfront with my Mental Health, I want my readers to know, there is always someone who will listen. If you ever need someone to talk to, please reach out to me on my Facebook page or call one of the numbers below.

National Alliance on Mental Illness (NAMI)
1-800-950-6264

Suicide Prevention
1-800-273-8255

Center Against Sexual and Domestic Abuse
1-800-649-2921

National Sexual Violence Resource Center
1-800-656-4673

Trans Lifeline – Support for Transgender People
1-877-565-8860

LGBT NationalHotline
888-843-4564

My Facebook Groups

"/

Great Lakes Crafting Connections – Facebook Group
This group is for folks who live in the Great Lakes Region . If you don’t have one of the states in the Great Lakes Region as your location in your profile, I will message you asking your location before allowing you in the group. It’s to cut down on scammers in the group that could target members.

Join Now!

Pet Supplies

Craft Supplies

Lovesvg.com

The Best SVG & DXF Cut Files For Crafters at CraftBundles.com

0 Comments

Life with Anna C

 

Join the Life with Anna C community to receive the latest ideas, posts, projects, printables, and announcements before anyone else.

You have Successfully Subscribed!

Pin It on Pinterest

Shares
Share This