Purchasing a home is one of the most important decisions and biggest financial investments you’ll make in your life! That’s why it is so important to be prepared and to make the right decisions! Here are some steps you should take if you’re considering purchasing a home in the future.

1. Take a look at your credit.

When purchasing a home, it is important to have the best credit possible. Taking out a mortgage that will take years to pay off can incur a large amount of additional expenses if your credit is sub-par, therefore resulting in a higher interest rate. The higher your credit score, the lower your monthly payments. Typically people with a lower credit score must put down a higher down payment. It’s also important to not apply for new credit about one year before applying for financing for a mortgage.

2. What can you afford?

It is important to figure out what you can afford. Purchasing a home that you’re financially comfortable with will prevent stress and budgeting issues in the future. Make sure you take into account insurances, taxes, utilities and other related expenses that will come along with the purchase of a home.

3. Save save save!

If you know you want to buy a home in the next couple of years, start saving! Save for a down payment, closing costs and other related expenses. Down payments can range from 3% or 20% of the home’s purchase price. This will also help to make you a better loan candidate if your lender sees that you’re responsible with your finances. There also may be other associated costs such as furniture, kitchen appliances and even possible renovation costs that you will need to save for.

4. Get pre-approved.

Before actually looking for a home, it is important to get pre-approved for a mortgage. This way you know that your finances are in place and what you can afford before you even walk through the first home.

5. Buy a house you love.

It is important that you make sure that the home you choose is a home that you’ll love. Short term ownership can be expensive and it’s not always easy to sell your home.

If you’re ready to buy a home on the Crystal Coast, look no farther than our real estate experts at Chalk & Gibbs. We have been helping families find their dream home in eastern North Carolina since 1925. To learn more about how we can help you and your family, call us today!

Posted 5:04 PM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014

View Mobile Version

Contact Email Us Get A Quote Meet Our Staff

Insurance Companies
General Casualty
National General
Safeco Insurance
BlueCross BlueShield of North Carolina
Authorized Agent
Home     |     About     |     Contact     |     Service     |     Privacy     |     Disclaimer     |     Search

© Chalk & Gibbs Insurance and Real Estate

Chalk & Gibbs Insurance and Real Estate is an independent authorized producer/agency licensed to sell and promote products from Blue Cross and Blue Shield of North Carolina (BCBSNC). The content contained in this site is maintained by Chalk & Gibbs Insurance and Real Estate. Blue Cross and Blue Shield of North Carolina is an independent licensee of the Blue Cross and Blue Shield Association.

®, SM Registered marks of the Blue Cross and Blue Shield Association.