1st - Home Buying

FIRST TIME HOMEBUYER

At age 23, I became a home owner for the first time. Never having gone through the process, it was eye-opening. Also, surprisingly easy. You heard me - "easy". There's a lot of hype around the responsibility and complexity.

Here was the thought process:

• How much can I afford? -down payment, monthly payment, mortgage insurance, house price, HOA costs, etc.
• What do I want in a residence? -location, bedrooms, baths, community, floors, space, etc.
• How is the resale value of the property? -location, market value, appreciation, room for improvements, etc.

The rest was just logistics:

• Pre-approved by a lender for the loan
• Taking time to see properties
• House inspection
• House appraisal
• Closing (down payment and loan prep)

So, once you have saved up for a down payment, don't be afraid to get this process started. There are a lot of resources out there to help you.

Some of the "firsts" I share in this blog will definitely not be this huge. But, I like to kick things off with a bang!

Any other first time homebuyers out there? Are you thinking about taking the first step?