Are you ready to purchase your first home?
Owning your own home requires you to make an honest assessment of your finances and decide if you are financially prepared to pay your monthly mortgage loan while saving for unexpected repairs and maintenance.
What can you afford?
Realizing you may not be able to purchase your dream home can be discouraging; however, stretching yourself too thin to make your mortgage payment is a mistake too often made by first time home buyers. Use a loan calculator to determine what your maximum purchase price is and stick to it. Lenders will look at your debt-to-income ratio to determine your eligibility to acquire a mortgage. Your overall debt should not exceed 40% of your income (32% can be allocated to your home).
What’s your style?
Are you struggling with the thought of deciding between a single-family home, duplex or condominium? When purchasing your first home, it is important to purchase a home that suites your current lifestyle. Before beginning your home search, your C21® agent will ask you some question to help you decide which property type suites you based on how much home maintenance you are ready to undertake.
Your C21® agent can help
A good agent will help you find the right property for you by merging what you want and what you can afford. Purchasing a home can be very emotional, your C21® agent will help you to be objective by reminding you of your ‘must-haves’ and going over the pros and cons of each home before making a final decision.
When you are ready to make an offer your C21® agent will prepare and review all the paperwork with you before it is submitted and arrange a home inspection. During a routine home inspection, the inspector will look for signs of harmful materials like asbestos, lead paint, or mold as well as any necessary maintenance that is needed. Once the inspection is complete, your C21® agent will accompany you on a final walk through to ensure all agreed upon terms have been met before the finalizing the purchase.