Your Financial Checklist- Buying your first home in the Lake Martin area is......

FINANCIAL CHECKLIST FOR FIRST TIME HOME BUYERS

Buying your first home in the Lake Martin area is SUPER exciting! However, as a first time home buyer, you need to remember that its more than just buying the home. This checklist can help you keep your budget in check!

Closing Costs – Closing fees include things like the attorney’s fees and document preparation fees.

Down Payment – Your down payment is the money you pay at closing. It’s the difference between your mortgage amount and your purchase price of the home.

Earnest Money – Earnest money is an upfront deposit that gets applied to your down payment or closing costs.

Appliances/Furnishings – When budgeting for your new home, remember to set money aside for any appliances or furnishings that you will want to purchase upon closing.

Insurance – Depending on your loan program AND down payment amount, you may pay mortgage insurance. Homeowners insurance is also a requirement.

Property Tax – This varies depending on the state in which you reside.

Maintenance – It’s suggested that homeowners put aside money to cover maintenance ranging from lawn equipment to household tools.

Be Realistic!

Watch this video to find out how to be realistic when it comes to the features you can afford in a home with the money you have as a first time home buyer.

Interested in buying or selling in the Lake Martin area? Talk to me!