Excited for my first time home buyers!

There are a lot of things to know which I can tell you when we meet but here is some good information for my first time home buyers!

  • Some things really may be nonnegotiable for you—whether they’re needs or wants. Maybe you need to live close enough to commute to work every day. Maybe your pets need a fence. Or maybe you want to live in a good school district for your kids.

    List 3–5 things your house absolutely must have. (And yes, it’s okay to put a want or two on this list.) Then, write down the nice-to-haves that could be the cherry on top of your first home. And make sure to share your list with your real estate agent.

  • With the Atlanta market the way it is today, it is best to get pre-approved so that when you find your perfect spot, you can get that contract! Super exciting and important.

  • The best down payment is an all-cash offer. Nearly 1 in 4 buyers pay cash for their houses.1 But if that isn’t reasonable for your first house, aim for a 20% down payment. That way, your lender won’t make you pay for PMI. PMI is insurance that protects your lender (not you) if you fail to make payments—so try to avoid this nonsense.

    If 20% is still out of reach for you as a first-time home buyer, a smaller down payment of 5–10% is okay too.

  • Plan to save 3% or so for closing costs.

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After you sign a contract.

  • Home inspectors can help you spot potential problems so you can fix them—or walk away from a bad deal! If you still want the house, the appraiser will assess its value. You should also get a sewer scope with your inspection.

  • Lenders require you to buy homeowners insurance, which pays to repair or rebuild your house after a disaster.

    Title insurance protects your home from claims against the property or questions of ownership—like the last owner’s unpaid tax bill or long-lost grandson who claims he inherited your house. It sounds crazy, but it happens.

  • You never know if there is something like a sewer line under your home or another persons driveway on your proeperty without a surevey. It protecst you now and for resale.