5 Renting To Buying Things To Know

Dated: 10/02/2014

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GOING FROM RENTING TO BUYING A HOME: 5 THINGS TO KNOW

Going From Renting to Buying a Home: 5 Things to Know


Guest post by JT RiptonSo you’ve decided it’s time to leave the world of renting and buy a home. If you’ve always rented, you’re in for quite a few changes as you look to buy. Here are five things to look out for as you start the process of buying a home.

GET YOUR CREDIT IN CHECK

Before you start dreaming about white picket fences or painting the walls your favorite color, you need to make sure you have a credit score that will make the banks want to give you a mortgage. In general, the higher your credit score, the lower your interest rate, which means your credit score can save you thousands of dollars.

BUDGET, THEN SHOP

You shouldn’t even think about house hunting until you have your finances sorted out and understand the newly implemented mortgage rules. Many first-time homebuyers make the mistake of finding a place they love and then sorting their mortgage around it.Before you start looking at houses, meet with the bank to determine what interest rates and mortgages you can afford. A good real estate agent will only show you homes in that price range.

TAKE THE INSPECTION SERIOUSLY

Before you get your heart set on the home of your dreams, you need to have the property inspected. When you rented, inspecting the property meant checking to see if the appliances worked or if there were holes in the walls. If anything major came up, such as a drainage or mold problem, the landlord or superintendent handled it. But now, it’s up to you and your home inspector to spot everything from mold to leaks before you buy the home.

 

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Shirley Henderson

Being transplanted into the little town of Easley in 1969,from Ohio was a great shocker. So,I guess you could say I'm a Half Breed Southern. I’ve really enjoyed the people and the quietness of the a....

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