Guest Blog: What You Need to Know About Buying A House

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.

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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.