Spring Into a New Home
The long winter has finally come to an end. That means spring is in the air! The birds are chirping, the flowers are sprouting and we’ve already had a few April showers. As we spring into the new season, why not spring into a new home & enjoy all the season has to offer? Our Mortgage Team offers a few tips to make purchasing your new home possible:
Use your tax return wisely.
Some mortgage loans require a down payment. Your tax return might be the perfect boost to ensure you have enough for a down payment. Sure, spending the money on a family vacation or romantic getaway to Hawaii would be great, but why not invest in a place to make memories for years to come?
If you choose a mortgage option that does not require a down payment, your tax return might still come in handy. If you are a first-time homebuyer, you might need to purchase essential household items, like a lawnmower. Consider using your return on other associated expenses, like home insurance or a home inspection.
Find a real estate agent.
A real estate agent can provide helpful information on homes and neighborhoods you are interested in. They also have valuable negotiating skills to help with the home buying process. It typically doesn’t cost you anything to use an agent when buying a home. Their commission is usually paid for by the sellers, unless different terms have been negotiated.
Get a home inspection.
Once you’ve found the home you’d like to buy, it is important to make an offer contingent on a home inspection. Having a licensed inspector check for signs of structural damage and/or fixes is vital before purchasing a home. This contingency protects you by giving you a chance to renegotiate your offer or withdraw it without penalty if the inspection reveals significant damage or needed repairs.