Buying a home should be an exciting process, not overwhelming. Review the items below to ensure all goes smoothly, and you will be well on your way to purchasing and owning a home.

Benefits of Buying A Home:

• Avoid rent increases and cancelled leases.
• Opportunity to build your credit.
• Receive tax benefits by deducting your mortgage interest and real estate property taxes on your income tax returns.
• Build home equity.

What to Consider Before Buying a Home:

• Financial Stability and Budgeting: You will need to pay your mortgage and utilities monthly. You must budget enough funds to cover costs for maintenance and repairs, property taxes, homeowners insurance, and possible HOA fees.
• Risks: Due to the ever changing market, a real estate investment does not always increase in value. Your property value may increase or decrease over time.
• Commitment: When you own a home, it is harder to pick up and move on short notice; therefore, you’re obligated to sell the home first.

How do I get started?

• Create a financial plan to understand your credit and how much you can borrow.
• Contact your local mortgage lender to see what type of loan you qualify for and how much you can borrow.
• Contact a licensed real estate agent as they offer professional assistance, market knowledge, and up-to-date information about geographic areas, home listings, pricing, school districts, and more.

This post is presented by our guest blogger and one of our preferred lenders, Danielle Desousa of HomeStar Financial, NMLS #1649268.
If you have questions about this article or any mortgage questions, contact Danielle at 386-589-9037 or any of our preferred lenders.

For more information about HomeStar Financial visit www.homestarfc.com/danielledesousa

For a full list of our Preferred Lenders, click here.