Helpful Tools for Purchasing Your First Carlisle Home

Helpful Tools for Purchasing Your First Carlisle HomeBuying a Carlisle home for the first time can feel exciting, and when you start learning about the steps and requirements to turn your homebuying dream into a reality it can start to feel overwhelming. For some first-time buyers, it might feel a little discouraging but with the right knowledge and tools at hand, it doesn't have to be. If you are planning to purchase your first home in Carlisle make sure to have these in your home-buying toolbelt. 

An Accurate Look at Finances

Before you begin home shopping you need to know how much you have to shop with. You wouldn't go into the grocery store to buy supplies for dinner without knowing you had enough money first. Or if you went to purchase a car you wouldn't start looking at the most expensive car on the lot without knowing you might have the possibility of driving off the lot. 

For some reason many homebuyers, even ones purchasing a second, third, or fourth home neglect to go over their budget and know exactly what they can pay for a home before shopping for one and falling in love with it. It is always best to go over your finances and make sure you know your COMFORTABLE  home buying budget. This means what you can pay for a mortgage and other home expenses while still retaining enough of your income to pay for other bills and necessities and have a little left over for savings and doing something fun once in a while. 

It is always best to talk with a lending professional and get pre-approved so you know just how much a lender is willing to lend, what that home payment will cost, and if it is within your comfortable budget. Many financial health advisors will advise clients not to pay more than 1/4 to 1/3 of their take-home income on their mortgage payments. When you have this number then you can start looking for homes, and narrow down your search.

An Expert Local Agent

Having a pro on your side is an extremely important tool for home buying. It alleviates countless hours of searching for homes that don't meet what you are looking for. It puts someone on your side who is knowledgeable and looking out for you. It helps you to expertly negotiate the home sale so that you end up making a solid purchase. And it gives you someone with expertise to ask questions because you will have many. 

Due Diligence and Contingencies

Once you find a home you love and make an offer and it is accepted and signed by you and the home seller it is time for due diligence. This is a homebuyer's time to look into every detail about the home and ensure that they are making a sound investment. This is the time to conduct a home inspection, an appraisal, a title search, etc. Making sure there are contingencies to protect you and allow you to walk away from your offer if a major concern arises will help you not lose your earnest money deposit. 

Tax Credits and Assistance Programs

Buying a home is a huge purchase. It is one of the largest purchases most Americans will make in their lifetime. A common mistake first-time buyers make is not checking out assistance programs and tax credits for purchasing their first home. There are many great programs out there to help Carlisle homebuyers get into a home for the first time. Take some time to see if you might qualify for some of them, it could save you thousands of dollars on your home purchase or give you just enough help to make that down payment and qualify for a loan. 

If you are considering purchasing your first home in Carlisle, I am here to help. I am happy to answer any questions you have and work on your behalf to get you into a Carlisle home you will love. Contact me any time with any central PA real estate needs. 

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