First Time Home Buyers
Buying Your First Home
First thing to consider when purchasing a property is your future. Where do you see yourself years down the road? What are your plans for your luxury apartment if you grow out of it? Maybe you want to keep it as an investment property or sell it and buy a bigger place. Everyone’s goals are different, but it’s important to begin with the end in mind, because once you close on a property it’s yours, and if you change your mind it could take you years to sell.
Next thing to consider is your finances. Make sure you do a thorough assessment of your credit score and your income to determine what places you can qualify for and how high of a mortgage payment you can take on while still maintaining a good quality of life. A great idea is to run your credit report and get pre approved for a mortgage prior to beginning your search. It’s also smart to assess your budget prior to your search. You can use a mortgage calculator like the one found here to determine what a monthly mortgage payment would look like based on how much money you can put down and the total price of the property. Compare that with your are pre-approved for, and you’ll get a very good idea of the price range of places you can look for.
Last but not least, consult with a professional. Unless you’re a real estate agent yourself, buying a home is extremely complicated for most people and it’s important to have someone knowledgeable in your corner who can help you through the process. Having a buyers agent will help you see things you may have overlooked when looking at places, and also give you valuable insight into the sales process and how to prepare yourself to buy. Get connected with some of the best real estate professionals right here by filling out our contact form below. We’ll get you in touch with someone who can help you buy the luxury place of your dreams!