The American Dream means different things to different people, but one of the most common aspects is owning a home. Despite the recessions and economic anxieties of the present day, thousands of people set out to become first-time homeowners every year. Buying a house is often one of the most significant financial investment that many people will make in their entire lives. As you prepare to make this great leap forward in fulfilling your own American Dream, here are three quick tips for buying your first house.
1) Save Up for a Down Payment
One of the best things you can do to set yourself up for success as a home buyer is to make the biggest down payment that you possibly can. The larger the percentage you put down of the home’s overall value, the better. Although some first-time home buyers put down as little as 3% for a down payment, making a down payment of less than 20% of the home’s overall value may ultimately cost you more in the future, particularly in mortgage insurance premiums.
2) Research Assistance Programs
There are programs at the national level to assist first time home buyers including USDA loans, VA loans, FHA loans, and the Home Path Ready Buyer Program, among others. There may also be programs at the state and city level that you qualify for, so it is important to research what is available in your area. If you are interested in purchasing one of the many beautiful Homes For Sale in Florence KY, contact Real Estate Group to learn more about fine homes and relevant programs in Northwest Kentucky.
3) Hire a Real Estate Company
The best thing about buying your first home is that you don’t have to go at it alone. There are hundreds of thousands of trained professionals that work in the real estate business every day to help people just like you navigate the process of buying your first house. Hiring a good realty company can make all the difference in your first home buying experience, especially if you’re looking for Homes For Sale in Florence KY.
Although it is not as easy as it may have been for previous generations, the American Dream of owning a home is still alive, well and very much attainable for those that prepare for it.
