Preparing to Buy
What should you consider when preparing to buy a home?
Taking the steps toward homeownership can seem a little daunting, but a home is one of the most rewarding purchases you’ll every make. Homeownership comes with big financial responsibility, but we are here to help you along the way.
During this exciting time in your life there are a few things to consider before purchasing your home. Start with this quick checklist to begin your home buying journey.
What to Ask Yourself Before You Buy a Home
You should take into consideration whether or not you are planning on having children. Will your new home have enough bedrooms if you do? Also, consider what the neighboring areas are like and what school systems your children will be placed in.
What is the cost to live in a particular home?
First, determine your budget for what you can afford. Don’t base your budget on the maximum amount you may be able to borrow. When determining your budget, you may also want to include these expenses.
Property Tax: Will vary by city, state and county, so it is a good idea to discuss these costs with a lender.
Homeowner’s Insurance: An insurance company can help determine this cost. Talking with a company you have other policies through, such as car insurance, may help you qualify for a multi-line discount by packaging policies together.
Utility Cost: Will vary greatly depending on several factors, such as the location of the home as well as the age of the home and its level of energy efficiency. It is important to keep this in mind when shopping for a home.
Use our mobile home financing calculator to determine what your total payment will be with taxes and insurance included.