Renee Davis: Indy Real Estate Agent

Taking The First Home Buying Steps

Buying a home can be very scary, especially if it is your first-time. Even before you start hunting for a home, there are some steps that you should make first in order to make you financially prepared. This is so you will know approximately how much money you have to work with.

Research the different programs available for first-time buyers in your area. Depending on your credit score, you could be eligible for down-payment assistance and other incentives. For Indy residents, the Indianapolis Neighborhood Housing Partnership, better known as, INHP is a great resource. Consider taking a budgeting and credit course or a homebuyer readiness workshop.

You need to look at how much you have in your savings, making sure that even before you look at the first home, you have at least 3 to 6 months of living expenses put away in case of an emergency.  If there is an accident, not during work, that puts an income maker off with an injury, and there is no insurance to cover this type of situation, you will have to rely on these savings to cover the mortgage and any other expenses that might occur while they are off.

You need to get a good real estate agent (oh, Hello! I’m Renee and I know homes.).  Often a family member will have dealt with somebody, and as long as they have a good opinion of them and would recommend to you, it is usually a good idea to go with someone like this rather than just a stranger you know nothing about.

You should meet with your lenders and determine how much money you can afford to spend and get yourself pre-approved for a mortgage at a certain amount. Sellers will often not want to waste their time with somebody who doesn’t perhaps have the money to buy the home. Being pre-approved eliminates this problem. Also, make sure you shop around for your mortgage, because by doing a little legwork and some research, it might just save you some money and help you find the home of your dreams. These are also things an agent will help you with.

These are just a few steps that you have to make when buying a home for the first time. Your agent should be able to help with all the questions you have to ensure your first home buying experience is a good one.

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About Renee Davis

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Renee Davis

Realtor/Associate Broker

317-593-2068317-593-2068 main

The Modglin Group

432 South Emerson Ave, Suite 120, Greenwood, IN 46143

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