{"id":18419,"date":"2018-07-11T15:33:53","date_gmt":"2018-07-11T23:33:53","guid":{"rendered":"https:\/\/www.hayden-homes.com\/?p=18419"},"modified":"2023-06-14T16:32:12","modified_gmt":"2023-06-15T00:32:12","slug":"blog-6-essential-tips-for-first-time-homebuyers","status":"publish","type":"post","link":"https:\/\/www.hayden-homes.com\/blog\/blog-6-essential-tips-for-first-time-homebuyers\/","title":{"rendered":"6 Essential Tips for First Time Homebuyers"},"content":{"rendered":"<p><a href=\"\/blog\/wp-content\/uploads\/2018\/07\/Tips-for-First-Time-Homebuyers.jpg\"><img loading=\"lazy\" class=\"alignright size-medium wp-image-18426\" src=\"\/blog\/wp-content\/uploads\/2018\/07\/Tips-for-First-Time-Homebuyers-300x217.jpg\" alt=\"Essential Tips for First Time Homebuyers\" width=\"300\" height=\"217\" \/><\/a>Buying your first home is one of the most exciting ventures of your life. Whether you\u2019re buying an existing home or working with a builder to construct a new home, there are a lot of things you need to keep in mind to set yourself up for the smoothest, most enjoyable experience possible.<br \/>\n<strong>1. You\u2019ll Need to Budget for More than your Mortgage<\/strong><br \/>\nOne common mistake first time homebuyers make is building their budget around their new mortgage. In reality, your monthly expenses will be more than your mortgage payment. They\u2019ll include:<\/p>\n<ul>\n<li>Property taxes;<\/li>\n<li>If applicable, mortgage insurance;<\/li>\n<li>Utilities;<\/li>\n<li>Maintenance costs;<\/li>\n<li>Homeowner\u2019s insurance; and<\/li>\n<li>If applicable, HOA fees.<\/li>\n<\/ul>\n<p><strong>2. Don\u2019t Open Any New Credit Lines Before you Close<\/strong><br \/>\nPay close attention to your credit while your mortgage application is pending, because everything you do will affect your credit score and your application. The time to make and large purchases or do things like finance new furniture for the home is <strong>after you close<\/strong> and move in, not while you\u2019re waiting for approval.<br \/>\n<strong>3. Get Pre-Approved<\/strong><br \/>\nSince the recent housing-market crash, securing a loan can be harder than it used to be. In addition, the housing market is competitive. Therefore, it\u2019s better to get pre-approved before you start looking for a home or make an offer. Wherever you decide to go for your home loan, you can submit your financial information and get a pre-approval letter for the max amount that they are going to loan you. You may find, through this process, you can afford more than you think.<br \/>\n<strong>4. Be Willing to be Flexible \u2013 And Creative!<\/strong><br \/>\nDon\u2019t go into the home search with a specific type of home in mind. Instead, go into it with specific needs in mind, like the number of bedrooms you need or a home with a driveway and a garage. Do you want an <a href=\"https:\/\/www.hayden-homes.com\/home-plan-gallery\/\" target=\"_blank\" rel=\"noopener noreferrer\">open floorplan<\/a>? Do you want something new with modern appliances and building materials? Asking yourself these types of questions will help you narrow down the homes you look at based on what fits your needs.<br \/>\n<strong>5. Determine your Options for Tax Credits and Other Perks<\/strong><br \/>\nMany states and municipalities offer first time home buyers tax credits and other perks to promote purchases. You might qualify for a low interest mortgage loan, a specific tax credit, or a special assistance program that makes homes more attainable for first-timers. Your real estate agent and loan officer, should be able to talk to you about the various perks and programs you qualify for.<br \/>\n<strong>6. Don\u2019t Get Too Emotionally Attached<\/strong><br \/>\nThis one\u2019s as important as the others, and it can be more difficult. When you visit a home for sale or look at a model home with a builder, it\u2019s easy to fall in love. You might immediately see what you\u2019ll want to change in the home and how you\u2019ll fill its spaces with your family. But until the day you close on a home, it isn\u2019t yours.<br \/>\nThere are different things that could cause you to have to back out of a deal between making your initial offer and closing on a home. If your buying resale, maybe the home inspection comes back that there\u2019s substantial water damage inside the home\u2019s walls, which means you\u2019ll have to begin a large-scale renovation project before you can move in. Maybe something comes up in your personal life that causes you to have to put the home buying process on hold. Keeping an even head throughout the home buying process will help you make smart decisions and avoid heartbreak if things don\u2019t pan out.<br \/>\n<strong>Move into your Dream Home by Working with an Experienced Home Builder<\/strong><br \/>\nAt Hayden Homes, we work with first time and experienced home buyers and we will be attentive and supportive during this exciting time in your life. Whether you\u2019re looking in <a href=\"https:\/\/www.hayden-homes.com\/state\/new-homes-oregon\/\" target=\"_blank\" rel=\"noopener noreferrer\">Oregon<\/a>, <a href=\"https:\/\/www.hayden-homes.com\/state\/new-homes-washington\/\" target=\"_blank\" rel=\"noopener noreferrer\">Washington<\/a>, or <a href=\"https:\/\/www.hayden-homes.com\/state\/new-homes-idaho\/\" target=\"_blank\" rel=\"noopener noreferrer\">Idaho<\/a>, our team can help you move into a home that\u2019s just right for you at any stage in life. <a href=\"https:\/\/www.hayden-homes.com\/contact\/\" target=\"_blank\" rel=\"noopener noreferrer\">Contact us today.<\/a> We look forward to answering any questions you may have about preparing for, and making, your first home purchase.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Buying your first home is one of the most exciting ventures of your life. Whether you\u2019re buying an existing home or working with a builder&#8230;<\/p>\n","protected":false},"author":2,"featured_media":18426,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[87],"tags":[72,140],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.2.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>6 Essential Tips for First Time Homebuyers | Homebuying 101<\/title>\n<meta name=\"description\" content=\"Are you looking to buy a home for the very first time? If so, you may be asking &quot;What should I do, and what should I not do?&quot; Here are several essential tips that will help guide you through the homebuying process. Read the tips here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hayden-homes.com\/blog\/blog-6-essential-tips-for-first-time-homebuyers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"6 Essential Tips for First Time Homebuyers | Homebuying 101\" \/>\n<meta property=\"og:description\" content=\"Are you looking to buy a home for the very first time? If so, you may be asking &quot;What should I do, and what should I not do?&quot; Here are several essential tips that will help guide you through the homebuying process. 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