Advice For The First Time Home Buyer

Advice For The First Time Home BuyerYou've heard it before. It's much smarter to buy than rent. And it's true. Twentysomethings are stepping up to the plate and buying homes in large numbers. It's a smart way to start investing and receive tax benefits in the process. Buying a home for the first time can be stressful, but it also is a great learning experience. At The Jacobs Companies, we have complied a list of tips and recommendations specific for the first time home buyer that will give you the confidence you need to sail through to closing. And in the end you'll be glad you did.

Today, you can begin the process virtually. Start by visiting properties online. Almost 80% of all home searches begin on the Internet. With just a few clicks and an idea of where you want to live, would-be home buyers can view hundreds of online listings, take virtual tours of models, sort through photographs of exteriors and interiors and even view a laundry list of included amenities. We created a user friendly website that is visually interesting, interactive and educational all at once.

First and foremost, decide how much you can afford and what type of mortgage program works best for you. We've done a lot of the groundwork for you, like choosing a mortgage specialist that has great experience in creating financial solutions for affordable home financing. With a common-sense approach, our program guarantees to meet even the most varied requirements. We understand how important it is to choose the home loan that best suits your needs.

Next, you can read-up on the subject. Educate yourself. This will be one of the largest investments you will make in your lifetime. Your local book store or library has hundreds of books on buying a home and local universities offer classes on investing in your home, you can even take home repair classes where you can learn how to save money and do it yourself.

Remember, you need to be able to afford to buy and live in a new home. So you need to check your homeowners insurance and property taxes for the area you are thinking of buying in. Don't forget about the monthly mortgage payments and your own personal circumstances. Calculate what is important to you and save appropriately. Monthly payments should not be more than 36% of your gross income.

Most builders require a deposit to begin the building process. It typically ranges anywhere from 5% to 20%. At The Jacobs Companies, we require anywhere from 5% to 10% of the total homes costs up front. With so much information now at your fingertips, you're practically guaranteed a smooth first-time experience.