The Buyer’s Guide
What are the benefits of Buying your first home?
- Avoid rent increases and cancelled leases.
- 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 should I consider before I buy a home?
- Financial Stability and Budgeting:
You will need to pay your mortgage and utilities monthly. However, you must budget enough funds to cover costs for maintenance and repairs, property taxes, homeowners insurance and possible HOA fees
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.
When you own a home, it is harder to pick up and move with short notice, you’re obligated to sell your home first.
How do I get Started?
Create a financial plan to understand your credit and how much you can borrow.
- Check your credit history and make a plane to better your credit.
- Contact a Homestar Loan Officer from our office to see what type of loan you qualify for and how much you can borrow.
Contact a Licensed Real Estate Agent.
There are many online resources today that you can contact and research. However, you do not receive that one on one valuable feedback from a computer screen like you would from a licensed agent. A realtor can make the homebuying experience less stressful because of their wide base knowledge of the market. A realtor offers:
- Professional Assistance
- Market Knowledge
- Up to date information on geographical locations, home listings, pricing, school districts, etc.
Finding the perfect agent is easy. You can search online, ask friends and family, or let us help you work with realtors that we work with every year and recommend them highly.
What is the process for buying a home?
- Figure out how much you can afford
- Know your rights
- Shop for a loan
- Learn about homebuying programs
- Shop for a home
- Make an offer
- Get a home inspection
- Shop for homeowners insurance
- Sign Papers