FirstTimeHomebuyers_Infographic

*From the National Association of REALTORS® 2014 Profile of Buyers and Sellers annual survey

Buying your first home has a multitude of benefits—from tax write-offs to equity. But Kevin Currie Group understands how daunting the process can be for first-time homebuyers.

That’s why we take it one step at a time. Before we even show you the first house, we take the time to get acquainted with you, learning why you’ve decided to buy a home as well as your must-haves, the neighborhoods you like and your long-term goals. Then, we teach you about the real estate market (Is it a buyer’s or a seller’s market? What makes one location more expensive than another?), and walk you through the entire homebuying process—from contracts to closing.

But perhaps most importantly, we make sure you understand the financial commitment as well as the time commitment of homeownership. And then, once you’re ready, Kevin Currie Group works with you to find the perfect place to call home.

In addition to how much you’re prequalified to borrow, carefully consider your upfront costs like down payment, closing costs and earnest money, as well as your ongoing expenses (beyond your mortgage payment), including homeowners and mortgage insurance, property taxes and even utility costs and potential repairs. Consult your mortgage broker and real estate agent to help you with these numbers.

Know what you want.

Sit down and sort out your priorities—from square footage and number of bedrooms to specific features like hardwood floors vs. carpeting. It’s also important to determine whether you’re willing to invest some sweat equity on a fixer-upper or you’d prefer a move-in ready home.

Know your location.

All buyers are partial to certain neighborhoods, subdivisions or parts of town. Instead of restricting yourself to that particular area, determine what you love about it and then be open to looking in other housing developments or parts of town that fit those same criteria.

Did you know?

In December 2014, Fannie Mae and Freddie Mac started offering 3% down payment mortgages, making it easier for first-time homebuyers to qualify for a mortgage.