Buying your first home is a big deal. So much to know and to learn. I bought my first house after getting married.
Hopefully when you start looking at houses. You have saved up for a down payment. There our first-time home buyer programs that can help with the down payment. Check out your local banks.
Don’t think you are buying the houses like on HGTV. You have to be realistic about price and how houses look. Some people don’t renovate their houses.
Please don’t over buy when looking at houses. It’s crazy how much money the bank will approve you for. Make sure it a mortgage payment equals to something you are comfortable paying every month. Decide if you are wrapping the house insurance and taxes into your mortgage payment.
Some expenses that you have to think about when buying your first home:
Mortgage including interest, taxes and insurance
PMI– insurance you pay if you don’t have 20% down
Inspection fee
Homeowner insurance
Closing Costs
Appliances– some appliance are left in the house but maybe be old. Our first home, had a very old washer and dryer. So, we need to go shop around for a washer and dryer and then wait for delivery. Because it never the same day.
Landscaping supplies: lawn mower, snow blower, rakes, garbage cans
Furniture
Supplies to decorate and paint
New locks, and toilet seats
Others things to think about before moving in:
Change your address
Sign up for electricity, cable/internet, gas/oil
What costs surprised you when buying your first home?