5 Things Every First-Time Home Buyer Needs to Know

The customary amount varies depending on the market, but might range from 1% to 3% of the offer price. If your offer is accepted, the funds are applied toward your closing costs. If not, your earnest money is returned to you. Down payment – this is the percentage of the home price that you must pay at closing.

As the housing market begins to recover from the crash of 2007, news of tighter lending restrictions and requirements for larger down payments may make the idea of homeownership seem more daunting for a first time home buyer, but the truth is that there hasn’t been a better time in years for first time buyers to enter the market.

Learn everything you need to know before buying your first home.. 5 Things Every Potential First-Time Homebuyer Says. Topics:. When you’re a potential first-time homebuyer, that list of commonalities grows even bigger. You’re a part of a group of other like-minded people who dream of.

First-Time Home Buyers – Five Things You Should Know Before You Start Your Search One of the most important milestones that a family comes to is the purchase of their first home. Though the first home purchase is a dream for most, such dreams can often cloud out the necessities. The purchase of a [.]

5. Know your tax credit options. The first-time home buyer tax credit may be no more, but there are a number of tax breaks new homeowners may not be aware of.

Second, you have to be realistic about your expectations. You are a first time home buyer, so everything will not be perfect. You will want to make sure that the layout is pleasing and the structure is sound. Don’t consider properties that require extensive renovations, unless you have experience with this.

5 Things First-Time Home Buyers Must Know The above article Top 5 Things First-Time Home Buyers Should Know was provided by Angela Duong. Angela can be reached at aduong2281@gmail.com or by phone at 435-225-5200. With over 10+ years experience, if you’re thinking of selling or buying, I would love to share my marketing knowledge and expertise.

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10 Things Every New Homebuyer Needs to Know.. It’s better to take a chance on a smaller home — or one in need of repair — in a great area where the value will only rise.. Especially for first-time homebuyers, using a seasoned agent is a smart move. Get a Bargain on a Stigmatized Property.