Need-to-knows For Buying Your First Home

Buying your first home can be one of the most exciting and rewarding experiences of your life, but it can also be a scary and stressful process. To ensure you have a smooth transaction from start to finish, familiarize yourself with the home buying process, note the tools and resources available to you, and get all your ducks in order. To get you started, we’ve made a list of our top three ways to set yourself up for success.

Outline Your Musts and Wants

Before starting your search, make a list of must-have and nice-to-have features for your home and neighborhood. This will help you narrow down your search early on and prevent the hunt from becoming overwhelming.

Solidify Your Financing

When starting the home buying process, ensure your finances are in order by reviewing your credit score and taking steps to boost it, saving for a down payment, and avoiding any major purchases. Then select a lender that is right for you, talk to him or her about your loan options, and get preapproved for a mortgage. Once you know your budget, you can more effectively find the right home for you.

Find a Real Estate Agent

Working with a great real estate agent can make a world of difference when it comes to navigating the ins and outs of the home buying process. With their vast background and experience and local knowledge of neighborhoods and cities, they will be your go-to resource every step of the way. By implementing these tips and remembering to enjoy the process, you can set yourself up for a great first home buying experience!

How Your Daily Drive Time Can Factor Into Your Mortgage

It’s easy to overlook some of the things that can affect your budget and purchasing power when you’re considering a home, and one of the biggest factors that buyers overlook is the cost of their daily commute.

We’ve all heard that real estate is all about “location, location, location,” and properties in more desirable locations typically come with a higher price tag than similar properties that aren’t in a hot neighborhood.

Yet the overall cost of living for choosing one location over another might be negligible when you factor in the commuting costs that are required—gas, vehicle maintenance, insurance—if you purchase a home that is significantly further from your workplace. If your mortgage is $200 less per month, but you’re spending an extra $200 in commuting costs, are you really saving money?

Commuting costs aren’t just about the disposable income left in your bank account, either. It can even affect how much money you can borrow. If you’re a long-distance commuter, a loan officer may factor your travel costs into your debt-to-income ratio.

Aside from how commuting affects your purchasing power or disposable income, there’s also the question of how it affects your quality of life—no one wants to spend hours a week just getting to and from work.

The real estate market varies greatly from location to location, so the best way to get a complete picture of your purchasing power—and all the factors that go into your home budget—is to speak to a trusted real estate professional.

Wallpaper: Don’t Call It A Comeback!

Guess who’s back, back again? Wallpaper has risen to the top of homeowners’ favorite ways to spice up a room again and its easy to see why.

Options

With a variety of colors, patterns, and styles on the market, it’s nearly impossible for you to not find one that matches exactly what you’re looking for. The texture and finish options are endless as well, ranging from silk to leather to suede to mother of pearl. Some of the wallpaper trends we are loving right now include watercolor-inspired designs that transform any room into an artistic haven and nature-forward designs that help bring the outdoors in.

Ease of Use

One of the biggest benefits of wallpaper is it is a fantastic DIY project for you and your spouse, family, or friend. Not only does it go on easily, but it is simple to remove and replace when you are ready to revamp the look of the room. Additionally, this is a great option if you’re a renting a home or apartment. Generally, landlords prefer you do not paint during your rental period, so this easy-to-remove option is a great alternative.

Value

Most wallpaper costs on average $3 to $8 per square foot, depending on the brand and the material. Although the upfront cost of wallpapering a room can be a little more than the cost to paint, the value it offers is substantial. Wallpaper can last anywhere from 15 to 25 years, making it an incredibly cost-effective décor solution in the long run, while a painted wall requires more upkeep and touch ups and generally you will need to repaint every 5 to 10 years or so.