First Steps When Buying Your First Home

Buying your first home is a fun experience, but can also be incredlibly stressful and confusing.  Joliet is a great place for first time home buyers right now because the inventory of homes under $200K is extensive, providing tons of choices.  It is very easy to be overwhelmed by the choices, so it is important to take some initial steps to narrow down the options. 

So, where is the best place to start?  Find out what you can comfortably afford. . .Yes, I said comfortably!  Though you will probably be making some sacrifices to buy a home, you don't want to live with a budget stretched to the max.  Owning a home is not just about paying your mortgage and utilities, it also requires having enough cash to maintain the property.  There will be no landlord to call when the sink clogs, the garage door sticks or water turns the basement into a less than desirable indoor pool!  Having enough $$$ to handle unforeseen expenses is key.

How do you know how much you can afford?  It is important to talk with a reputable lender BEFORE you go out and fall in love with a house.  He or she can help you understand how the price tag on the home translates into monthly payments and what the final tally will be when taxes and insurance are figured in. You lender will also explain the varous loan programs available and calculate how much money will be required up front.

Homeownership can be a wise financial move if you have the means to purchase a home, the abilitiy to pay for the unexpected and still have enough money left over for the occasional night out.

If you are thinking about buying a Joliet area home and  need a great lender, I work with one of the best. . .give me a call and I will be happy to point you in the right direction!