Tuesday, April 15, 2014
Buying a new home can be a daunting task, especially if it’s your first time navigating the home market! Not only is it one of the biggest financial investments you’ll ever make, but it’s also the place where you’ll live, raise your family, and become part of a community. Here are a few things you really need to know before you buy your first home.
Know Where You Want To Be
The first rule of real estate is location, location, location. Decide on the right location before you decide on the right home. Ball Homes builds communities in some of the most popular locations in Central Kentucky, Louisville and Knoxville. Find the right location that's perfect for you and your family.
Know the Real Cost of Homeownership
The price of owning a home is more than just the purchase price. On top of your mortgage payment, you’ll be paying monthly utility costs, insurance, taxes, HOA fees and other routine maintenance expenses. Plus, once you are in your new home, you’ll need extra money to decorate and make it your own. Make sure you budget enough money for the full range of expenses you’ll have when you own a home.
Know What You Can Afford
Going along with #2, getting pre-approved before you start shopping will help you avoid falling in love with a house that you can’t afford. Speak with a trusted mortgage professional to discuss your options and lay out a price range that works within your budget.