Buying A Home For The First Time?- Here?s What You Need To Know

Posted by grantvine on August 13th, 2014

Buying a home for the first time is one of the happiest moments of a person’s life. Buying a home without being prepared can have disastrous implications for your wallet and can shatter your dreams in no time; therefore, it is important to make informed decisions especially when you are buying a property for the first time. This article, brought to you by GrantVine-the best grant search engine, will show you a checklist of things that you should verify before buying a house for the first time.

•Do a thorough research: Calculate the amount you could afford and how much you could borrow. If you're moving to a new community, be sure to find out what home prices are there. Housing prices can change dramatically from state to state and even city to city.

•Decide on your payment options in advance: Before you begin looking for a home purchase assistance programs and grants, it is important that you have secured a mortgage lender and that you have a good idea of what kind of home you can afford. Grants for first time home buyers is a good way to fulfill your dream of having your own house, but still there are expenses like municipal tax, property tax, assessment tax, community fees and then monthly utility costs in addition that will require you to spend a considerable part of your income. So, consider your payment options in advance in order to avoid any problems in the future.

•Read the entire document before signing a purchase agreement: Whether you’re buying a new detached home or a condominium, the purchase agreement is the legally binding document that spells out what you’re getting and the conditions of the sale.

•Do a thorough inspection of the house you are planning to buy: Many homes on the market today are distressed properties, foreclosures and short sales and that only increases the importance of good inspections. A home inspection can find problems with the foundation, electrical, plumbing, roof, attic insulation, and heating and air conditioning and will help you in making an informed decision.

•Consider distance from various places: Check that the property you are interested in is close to the facilities you require. For example shops, public transport, parks, hospitals, schools, work, gym, etc. There are many mistakes which buyers naturally come across when purchasing a home, but they can be very easily avoided with a bit of research and planning and following these simple tips from GrantVine. GrantVine has compiled a list of home buyer grants and other types of grants into their vast grant database to help individuals find the assistance they need.

To know more, visit- http://www.grantvine.net/