A First-Time Homebuyer’s Guide to Buying a Home

We make some pretty significant purchases over the course of our lives that make us a tad bit emotional – that red sports car, a Chanel handbag, or that trip to Europe we’ve always dreamt of. None, however, can ever compare to the roller coaster of emotions of buying a first home.

Our homes represent more than just our financial capabilities; it’s where we experience many firsts, where we find comfort after a long day at work and where we are able to raise a family. A home is more than just four walls and a roof. A home is where you begin a new aspect of your life, and it’s only right to find and choose the right place to start.

Buying a home, however, just doesn’t happen overnight. It requires a lot of time and a tedious but crucial process – and here are 4 basic steps you can take in purchasing your first home:

       1.   Ask If You’re Ready
In many cases, a home is a permanent commitment. It costs a lot more than renting. Once you decide to purchase one, it would be fairly difficult to back out. Ask yourself if you’re ready for a commitment that does not only require time and effort but a substantial amount of money as well.

       2.  Determine Your Budget
Frankly speaking, one can’t purchase a huge house on a shoestring budget. On the other hand, if you spend too much on a house, you won’t be able to address other important needs like daily expenses, emergency savings, or saving up for retirement. You need to consider the actual amount of money you can spend and stick to it. Do not stretch your budget; otherwise, you might end up with a huge pile of debt.

       3.  Scout for a Loan
Getting a loan approved prior to buying a house prevents you from overstepping your budget boundaries. Scout for the best loan offer, and when you find it, you can then start looking for a house.

       4.  Look for a Good Realtor
Find someone who works in your area. These realtors will know the best neighborhoods and specific details like the nearest hospital and what-not. Next is to make sure the realtor is competent. He/she should understand your wants and needs and look for offers that are best suited for you.

Purchasing a home is a major milestone. Consider these steps and avoid first-time home buying mistakes. Be prepared, and help safeguard your finances in the process.

Thus, if you’re looking for Cagayan de Oro real estate houses for sale, let licensed and experienced realtors do the search for you.

Check out one of A Brown Company, Inc.’s projects, Coral Resort Estates, for a glimpse of one of the beautiful developments it has done over the years. For more details, visit their website at http://www.abrown.ph/real-estate/.



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