Most first time home buyers are generally clueless about the process. Since buying a home is such a momentous event, it’s important to prepare for it accordingly. What are the basic things to do when it's your first time to purchase a home? Dorn Homes, a premier Arizona home builder, shares some pointers for first time home buyers:
Know the jargon – It is best to personally research or ask builders about certain home building terminologies, so that you won't be lost or confused. This would help you easily clear things up with your contractor or builder and enable you to stay on top of the home building process.
Organize your finances – If you are in need of a mortgage, make sure your credit history is clean. Get copies of your credit report, proofread, and verify. It is also important to be realistic and only choose a home that you can really afford.
Choose the right mortgage – A fixed rate mortgage is ideal for long-term investments because you will only need to pay a minimal interest rate that is stretched over time. Adjustable-rate mortgages, on the other hand, have interest-rate risks because the loan is at a low rate. Moreover, the rate you pay changes according to a set formula as interest rates fluctuate in the open market.
Choose an ideal location – Aside from being able to comfortably access schools, shops, and other facilities, buying a home in a convenient location will help boost your property value when you decide to sell your home.
Look for a credible home inspector – Banks and lenders hire home inspectors when purchasing a foreclosed home. Before you commit to purchasing the home, you should also hire your own inspector to verify the appraisal and to help you determine potential problems.
Buying a home can be a daunting task, but if you have the right knowledge and people to back you up, your home buying experience will be a success.
For amazing new homes in Tucson, homes in Green Valley, homes in Tubac, and homes in Prescott, contact Dorn Homes. Dorn is the most trusted and recognized amonghome builders in Tucson, home builders in Green Valley, and home builders in Tubac. Dorn Homes offers quality homes and quality service. Many award giving bodies and clients know the great benefits of Dorn's stylish, comfortable, convenient, and energy efficient homes.