Buying a Home for The First Time?
With the current real estate marketplace being what it is and interest rates being what they are, this might be a perfect time to consider buying a home and discarding those monthly rent payments so many individuals or couples endure. Buying a new home can be one of the most exciting times of a person or couple’s life together and one of the most stressful. If you are considering moving into a new home either within your current community or in a different city or state, you need to be very selective on the moving company you choose. Tru-Pak Moving Systems, your hometown mover for over 60 years in Hickory NC, is a licensed, bonded, and insured independent agent for United Van Lines. We are specialists in helping first-time homebuyers make the right moving decisions and our website tru-pak.com is designed to inform and educate anyone planning on moving. For first-time homebuyers, there are many mistakes one can make when purchasing a new house, condominium, or land to build on.
Create a Budget You Can Afford and Stick To It
Over the past few years mortgage lenders, financial institutions, and even the VA have put in place stricter lending practices and guidelines for first-time home buyers. Buying a home can be an expensive proposition with capital outlay for initial down payments, required home inspections, and home appraisals, all paid for by the buyer. These costs can run into thousands of dollars. So, before you embark on a new home search and selection, make sure you have the essential capital to cover what is needed to purchase a home. Even if you are combining incomes and the bank or lender says you are capable of buying a specifically priced home, are you sure that the monthly costs of your mortgage is not too much for you to handle if times get tough? What are the costs for these products and services you will be faced with in buying a home?
- Initial down payment from 5%-20% depending on the lender
- Home Inspections and WDO inspection could cost you over $600.00
- Home Appraisals run generally between $500-$700 dollars
- Association dues cost if any
- Monthly mortgage payment
- Yearly taxes
- Yearly homeowner’s insurance
- Planning on any renovations
- Ongoing general home maintenance expense
- Monthly utilities including, electric, water/sewer, phones, cable, internet etc.
Shop the Mortgage Loan
This is a very important factor when choosing a lender to supply you with a mortgage. The rate and points one might pay can be different to different buyers depending on the amount of money down, credit score, past payment history, and type and length of the mortgage loan. Credit scores are based on a number of factors including, savings accounts, 401k’s, stock investments, established credit, loans paid off, loans outstanding, and your income to debt ratio. Pre-qualified at a certain price for a loan really determines the amount of cost you can incur and the value of the dwelling you should be budgeting for. This is important so your real estate agent can direct you to the price range of homes for sale you can afford. Remember new or completely refurbished homes will require less maintenance and work than older homes do, but in most cases will cost you more money than comparable homes in a given area. Additionally, buying the most expensive home in the neighborhood gives you less room for the home to rise in value. If you can’t find the right home for your needs and desires, maybe you should put off the purchase until you do find the home that fits your needs and dreams. Since this is the largest purchase most people will ever make in their lifetime, be pragmatic and seek out experienced professionals to guide you through the process. Consider the neighborhood, crime rates, living conditions, area roads, maybe schools if you have school-aged children and travel time to work, and accessibility to casual activities.
Choose the Right Moving Company
Just like finding and investing in the right home, choosing the right moving company to pack, transport, and deliver your possessions successfully and at an affordable rate is also a very important decision that should not be based on price alone. If you are looking for a moving company in Hickory NC, look no further than your hometown mover, Tru-Pak Moving Systems. We are experienced professionals who offer many moving services not commonly found in other moving companies. We pride ourselves on providing excellent service, with a customer track record, second to none. Our Moving Coordinators and Moving Team of technicians are individually assigned to every move we make anywhere in the country. That is an industry first and Tru-Pak Moving has set the standard. For over 60 years, Tru-Pak Moving has specialized in local and long-distance residential, commercial, and business moving services, employee relocations, and change of duty station military moves. Give us a call today at 800-659-1233 for a free, no-obligation moving quote and experience the difference our moving company makes.