Did you know that first time home buyers made up about 37 percent of all housing purchases in the United States in 2012? as well, for married couples purchasing their first home through first time home buyers programs in 2012, the average family income was $73,200. That same year, approximately 48 percent of first time home buyers bought a home costing $150,000 or less.
As a prospective first time home buyer, there are so many things you need to think about, which is why first home buying tips can be so helpful. One of the most important first home buying tips is that you should decide upon your top priorities regarding amenities, location, architecture style, and commute times to work, school, stores, and any other places you go regularly prior to touring any houses. Making these choices will help you narrow down which homes to see in person.
You will probably be touring so many homes for sale now that it may be hard to keep them straight. One of the most helpful first home buying tips is to bring a digital camera with you every time you view a prospective home. You should photograph the house number along with any unusual features. This will help you have an easier time keeping the houses you see straight.
Other first home buying tips involve how to get a mortgage. Luckily, first time home buyers financing programs exist that can make getting a mortgage much easier than it otherwise would be. Lenders can provide you with first time home buying tips related to your particular situation. Keep in mind that if you freelance or own your own business, you will probably be asked to document your earnings over the past two years for the lender. Luckily, if you are a first time buyer getting an FHA loan or VA home loans, your creditworthiness will be considered on an individual basis.
Since the collapse of the housing market in 2008, FHA home loans and VA home loans have become increasingly important to home buyers. Buying a home first time may seem like a daunting prospect in light of the previous recession. However, the housing market has rebounded, so it is definitely a good time to consider purchasing your first house. There are many first home buying tips that can help you. Just talk to you realtor, to lenders, and to people you trust who have recently purchased their first house. They can offer you many first home buying tips. You can take notes on all of the first home buying tips provided to you so that you can refer to them throughout the process of purchasing your new house. Helpful info also found here.