new house keys

Buying a home is a giant commitment and step in one’s life. But it’s not as easy as finding something you like and paying for it. There are a lot of steps and approval processes involved to secure a home and then live in it with peace of mind.

Whether you’re looking for a place your family can call home, or just starting out on your own first home and want to invest in something for the long run, you’ll need to understand the basics to committing to a home purchase before you move forward.

Here are some key points to consider.

Finding an Agent & Lender

As you begin the home hunting process, keep in mind you’ll eventually need an agent and a lender to help with the purchase process. Having people who you trust representing you as well as things like a pre-approval letter will give you a giant advantage over other buyers when it comes time to bid for a house you want.

Budgeting for Comfortable Living

You probably have some money saved up already if you’re thinking about buying a home, but you should be sure you’re finances are in place before you begin the journey to homeownership. Check to be sure your credit is in good standing and know that factors like your credit score, how long you’ve been a salaried employee at your job and your debt to income ratio will be considered for your loan approval and even play a role in the amount you’ll be approved for.

Repairs and Upkeep

One of the things that will always pop up with owning a home are repairs and regular upkeep. Plan to keep an emergency fund for these situations. Leaks, appliance breakdowns or gutter repairs are just some of the possibilities. If you’re already living within a tighter budget, these occurrence could put you in a really tight spot so it is wise to plan in advance to ensure you’re staying within means.

Homeowner’s Insurance

Getting the right homeowners insurance is critical. It will be your peace of mind as you enjoy your home. Trusting you have the proper protections in place is key. Will you be covered if the roof leaks? A TV is stolen?  Or if someone trips in your driveway? These are all important questions to ask. Choose wisely when deciding on an insurance agency and pick a provider who is knowledgeable and has a good track record if you want to feel confident in your choice.

Speak with an insurance agent today!