5 Game-Changing Facts About Buying a House
Starting is the hardest part.
Let's dish about the wild ride of buying a house. Trust me, there were some seriously mind-blowing things I wish I had known before diving in. Now I'm a Realtor myself, let’s talk about these five total game-changers that will rock your home-buying world.
Got 99 Problems but paying your Realtor ain’t one:
I used to think you had to shell out some serious cash for a Realtor as a buyer. But here's the scoop: the seller often foots the bill for the agent representing you. That means you can score expert advice and support without spending a dime. It's like having your own personal house-hunting BFF who's got your back every step of the way.
Early Prep Is the Name of the Game:
Okay, here's the tea: you can't just wake up one day and decide to buy a house. Nope, it takes some serious PREP WORK. Start getting your ducks in a row years in advance. Check your credit score, get your debt-to-income ratio in check, and start saving those dollar bills. Oh, and don't forget to figure out exactly what and where you want to buy. The earlier you start, the smoother the ride will be, and we'll have you sippin' champagne in your new digs in no time!
Brace Yourself for Closing Costs:
Hold on, 'cause here's something that caught me off guard—closing costs. Yeah, those sneaky expenses that love to crash the party. You gotta budget extra– around 5k or more– to cover these costs. They include stuff like loan origination fees, appraisals, and title insurance. So, be prepared, save up that extra cash, and show those closing costs who's boss!
You Don't Need a Fortune to Get Started:
Let me set the record straight. You don't need a gazillion bucks (or a money tree in your backyard) to buy a house. Especially if it's gonna be your main squeeze aka Primary Residence. You can actually snag a mortgage with a down payment as low as 3% or 5%, depending on your credit score. Sure, a bigger down payment has its perks, like lower monthly payments, but knowing that I only had to put 3% minimum down really shifted my timeline and made the mountain of needing a ton of savings more like a hill I could totally climb.
It's All About the Monthly Payment,
Okay, here's the real deal—forget about the price tag for a sec. What truly matters is your monthly payment. That's what determines if you can comfortably afford your dream home. So, chat with a lender early on. Get pre-approved for a mortgage and know exactly where you stand. This way, we can find a home that fits your budget like that perfect pair of jeans.
You are now armed with these five epic secrets that will make you a home-buying superstar. Knowledge is power. So follow this blog or our instagram @rockymtnwomeninvest to attend our free meet ups all about real estate investing, house hacking and living your most fulfilled and prosperous life!
Love, M
Mackenzie Page is a Realtor, Investor, Writer, and Herder-of-Chickens living on her small hobby farm in Denver CO with her partner, and rescue pup. As a board member of Rocky Mountain Women Invest she runs the website, blog and future podcast. Follow, like and share!
Disclaimer: The information provided in this blog does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available are for general informational purposes only.