First-Time Home Buyer? Use These Stress-Busting Tips



If you’re a first-time buyer, there are some essential things to consider when buying a house. It’s a huge life-changing decision, both financially and in terms of lifestyle. 

Arm yourself with this information so you can make the best decision possible.

Outline Your Budget

Do this before doing anything else. Head over to your bank and speak with a loan officer. They will help you calculate your debt to income ratio (general rule of thumb, you want your monthly debt to be no more than 40% of your monthly gross income) and give you an approximate idea of the amount of house you can afford.

A Comment on Loans

The affordability of your monthly payments is not determined just by the cost of the home itself. It is also affected by mortgage interest rates, closing costs, and various fees associated with the home-buying process.

A Comment on Budgets

When determining your budget for a new home, be sure to calculate your new home expenses after the fact as well.

Determine Your Must-Haves

When buying a house, it’s important to recognize your must-haves. These are non-negotiable qualities of the home that you need in your life. These deal-breakers can make or break your decision to pull the trigger on making an offer.

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