Below are for tips for first time home buyers from your Melbourne, FL real estate agency. We offer sales and leasing representation, property management, project development, and short-term rental services.
Type and Location
Determine what type of home you want, as well as where you want to live. You should consider your transportation options, and the local school system if you have kids.
Budget
Have a maximum budget (the maximum amount of money you are willing to pay or can afford); it should include the property tax, homeowner’s insurance, and of course the down payment and monthly mortgage payment. Also, factor in additional service costs like a mortgage application fee, closing costs, and the home inspection fee.
Credit Rating
A good credit rating will increase your chances of getting an appealing interest rate for a mortgage loan.
Real Estate Agent
He or she will help you find homes that fit within your budget and match your style. The agent can also help you throughout the property-buying process, such as making an offer, securing a loan, and doing the necessary paperwork.
Home Inspection
Never buy a home without first having it examined by a professional home inspector. They will check the utilities, electric wiring, and structural integrity of the home. They will also check on existing appliances, such as the refrigerator, HVAC system, and the water heater; knowing these results will save you on repairs.
