Buying a home for the first time can be a surreal experience filled with wonder and worry. It takes preparation and planning to achieve the best possible outcome. In the end, the gain can be great. But without preparation, it can often lead to surprise mishaps that can last a lifetime. An important milestone warrants planning, basic understanding and the ability to navigate through important processes.
The piles of paperwork alone, tons of choices, and so many steps to keep track of, can make even the most organized person’s head spin. This first-time home-buyer checklist is here to help you anticipate and plan out the coming months. From a logical standpoint, knowing what to expect for the coming months, while making the biggest purchase of a lifetime, is…logical. Would you ever take a long road trip without directions or a road map? Now lets add a $200K investment to that road trip. Need I say more? Starting with our home ownership Myths vs Facts infographic.
This First Time Home Buyer Discovery Series will provide the many helpful ways to avoid first time home buyer foul-ups. This infographic details the 20 Steps before closing (getting the keys to your new home). For example, did you know that although a mortgage can be paid off over many years the Closing Costs are due right away? These can amount to a pretty hefty number, on average 3%- 5% of the purchase price, about $4,500. Many first time home buyers don’t know about these up-front costs. While this rate can be negotiable, if that doesn’t work as well as planned, TitleMax® may be able to help.