Here at Ckezepis & Bright Law, PLLC, we know that buying a home is an exciting prospect. Whether you are buying your first home or the new home of your dreams, you have a lot to look forward to once you can finally move in. However, buying a home can also be an involved, stressful process, which is why our team has put together this article on some key things you need to know about ahead of time. We hope that with this information, you’ll be able to have the best possible experience when buying your new home.
- Always Consider Your Budget. The first step you should take towards buying a home is calculating how much house you can afford. To do this, you need to factor in your total debt, total income, monthly income, etc. You can find free calculators online to help you crunch these numbers, or you can speak directly to a real estate professional in order to get more personalized advice.
- Plan for Your Down Payment and Closing Costs. Another thing that we at Ckezepis & Bright Law, PLLC, want you to know about buying a home is that there are more costs involved than just the price of the house. Most prospective home buyers already know that they need to be saving for their down payment–usually between 6 and 20 percent of the total price–but there are some who don’t adequately prepare for their closing costs. These fees and expenses usually amount to between 2 and 5 percent of the total mortgage, so be prepared for that when it’s finally time to sign the paperwork.
- You Can Negotiate. The last thing that we at Ckezepis & Bright Law, PLLC, want you to know about buying a house is that you can always negotiate the terms. While all the paperwork may look very official and seem like it has no wiggle room, the truth is that these papers are a contract, and contracts are meant to be negotiated. Our team will help you throughout the closing process and make sure that you only sign when you feel completely comfortable with the terms laid out.