Tuesday, August 27, 2013

First Time Homebuyers in Richmond Hill Georgia

First Time Homebuyers in Richmond Hill Georgia

Buying your first home can be intimidating and exciting. You may not know where to begin. Here's five tips to buying your first home in Richmond Hill.

1) Check the selling price of comparable homes in Richmond Hill and surrounding areas. Websites like Zillow can give you a general idea of what you should expect to pay. You could also possibly to a quick search on actual MLS listings your area on a number of websites. 

2) Get your financial house in order and see what you can afford. Use a mortgage calculator to see what your payment would be. Don't forget to configure what your total housing cost would be including taxes and homeowners insurance. To get an idea for the total amount you should spend, use a home affordability calculator. What you pay for your taxes and insurance escrow can almost double your mortgage payment in some areas. You can call a local insurance agent to get an estimate on what you'll pay for insurance. 

3) Look at your budget and decide how a house fits into it. Don't forget to consider closing costs! Fannie Mae recommends that buyers spend no more than 28% of their income on housing costs. You wouldn't want to become house poor. 

4) Look at the big picture. Owning a home can be a rewarding and great experience, but maintaining your property and taking pride in ownership can be hard work and costly. Over the years expect to pay for new appliances, roof repairs, plumbing problems and/or maintenance and more. Remember there's no landlord to turn to now. It's all you. If you believe you're ready for the expense then contact a lender and get pre approved. Next, 

5) Contact Randy Bocook and start the fun part! There's tons of styles of homes, and different cultures of neighborhoods to look at. Finally, things to consider are: is the potential neighborhood you're looking at appreciating? Is the home big enough to grow with you and your family? How's the job market? And are you close to your favorite hot spots?
Once you find your dream home, unpack and enjoy!


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