Are you really ready to own a home? This is probably going to be the biggest investment you will ever make. There’s a first for everything – you remember your first bicycle, your first car – and now it’s time to think about your first house. For any first time home buyer, the process can be quite scary. However, if everything is in order, you’ll do fine!
Often, a first time home buyer is not aware of what’s involved with purchasing a house. You have to think of insurance, utilities, taxes, maintenance and repairs. It’s best to set a realistic budget before buying to ensure that you can afford the extra expense of a mortgage and everything that comes with it.
If you have a good credit history and a steady income, you shouldn’t have any problems getting a mortgage. Here’s what you’ll need when applying:
W2s for at least the last two years
Your photo ID
Bank account statements and pay stubs for the last 90 days (sometimes longer)
Divorce, marriage or bankruptcy papers
It’s always advisable for you, as a first time home buyer, to obtain a pre-approved mortgage before you start looking at houses. It gives you an exact idea of your price range, plus sellers will take you more seriously.
When looking at homes, you need to consider location, insurance rates, utilities, and taxes that you’ll have to pay. When you decide that a certain house is right for you, check for any updating or repairs needed, and be 100% sure that your budget can afford to pay for these.
The Buyer’s Agent of Asheville is dedicated to help clients find homes they can adore and afford. With its team of 10 experienced real estate brokers, The Buyer’s Agent of Asheville has been loyally assisting home buyers in the Asheville, North Carolina area. We’re focused to search for ideal homes without distractions, shady deals, and conflicts of interest. Please make an appointment to visit our offices at 82 Patton Ave, Suite 211, Asheville (map) by calling our 24/7 service number: (828) 210-4663.