Checklist for First Time Home Buyers

When you’re looking for Los Angeles kitchen remodel or bathroom remodel services, we at NB Construction are here to help in order to help turn your regular home into your dream home. Although we take great pride in our building and remodeling services, we simply want to help you in whatever way we can – even if you decide that you’d rather just purchase a new home instead. If you happen to be a first-time home buyer, we’ve provided you with a checklist of important things to take into consideration before purchasing your new home.

Our Quick Checklist for Home Buyers

  • Know What You’re Able to Qualify For – The first thing you’ll need to determine when buying a home is how much of a house you’ll be able to afford. To help determine this, one of the main factors that you should look at is your debt-to-income ratio. This compares your current income to your current debt; when you have a more favorable debt-to-income ratio, you’ll be able to afford a better house.
  • Keep a Good Credit Record – Another one of the most important ways to qualify for a great home is by making sure that you have good credit. Having a good credit record will strongly depend upon you making your payments on time and having little (or even no) debt. If you don’t have a solid credit record, you might not be able to get the mortgage that you want. Even if you do qualify, you may have to pay a higher interest rate.
  • Decide How to Pay for the House – First, you should decide how long you’ll want the mortgage to be. Mortgages typically last from 15 to 30 years. A longer mortgage will allow you to pay it off at a much smaller monthly rate. However, if you’re able to choose a shorter mortgage, you’ll end up paying much less in added interest in the long run. You should also consider what type of mortgage you’ll go with – an adjustable-rate mortgage or a fixed-rate mortgage.
  • Make Sure You Have the Monthly Payments Available – Obviously, you’ll want to have the available monthly money to pay for the mortgage. You should go over your budget beforehand and determine what you spend on a monthly basis. This can include car payments, car insurance, medical care, entertainment, and so on. You’ll want to be sure that you’ll have the available money to take care of each monthly payment.
  • Remember to Have Some Money Left Over Too – You won’t just have to consider the mortgage when it comes to paying for your home. You’ll have to take care of several other expenses and potential expenses as well. You’ll need to pay property taxes and homeowner’s insurance, which should be factored in. Also, you should always make sure that you’ll have some additional money available because there’s a good chance that you’ll need to pay for needed repairs or maintenance to keep your home in excellent condition.

Contact Your Los Angeles Bathroom Remodel and Kitchen Remodel Experts!

If you’re interested in any of our services, such as our Los Angeles kitchen remodel or bathroom remodel services, please don’t hesitate to give us a call at (323) 424-3514. If you have any questions or you’d like to know more about our company, we encourage you to contact us. We’ll be glad to help you in whatever way we can. We’re looking forward to designing the right home for you!