fbpx

Compare Listings

First Time Homebuyer Checklist

First Time Homebuyer Checklist

1. Make Sure You Are Ready

  • You have stable employment
  • You are at a point in your life where you can see yourself in the same City/Town/Area for years
  • You understand the maintenance responsibilities of homeownership

2. Create Home Wish List

  • Determine what your “Must Haves” and “Nice to Haves” are
  • Determine what type of home you are interested in (condo? house? style?)
  • Determine what different areas you’d be willing to live in

3. Determine How Much You Can Afford to Spend

  • Reach out to reliable mortgage loan officer and see how much a bank will lend you for the purchase of your new home
  • Determine how much your costs would be in addition to your mortgage and interest (insurance? taxes?)
  • Determine what you should have for a new emergency fund

4. Gather Necessary Documents

  • Collect the documents needed to apply for a loan: paystubs, past tax filings, bank statements

5. Obtain A Mortgage Preapproval

  • After having discussions about your options, obtain a loan preapproval from a mortgage lender

6. Assemble Your Team

  • Find a real estate agent that listens to your goals, communicates well and who you can trust!
  • Determine if this agent has trusted options for inspectors, loan officers, and attorneys.
img

Tom Sheehan

Related posts

How to Find the Right Neighborhood for You

Let's face it, your neighborhood is just as important as your house. If you are not happy with your...

Continue reading
by Tom Sheehan

5 Steps Smart Sellers Take to Generate Multiple Offers

Home sales (and values) have been on a strong uptick nationwide thanks to low interest rates, freer...

Continue reading
by Tom Sheehan

5 Things To Know About Burlington, MA

You probably know about the mall, but do you know what else makes Burlington a desirable place to...

Continue reading
by Tom Sheehan

Join The Discussion