10 Steps to Prepare for Homeownership
- Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
- Create a needs and wants list. Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.
- Select the community you’d like to live in. Consider items such as schools, recreation, parks, and your daily commute.
- Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 percent and 7 percent of the home price.
- Get your credit in order. Obtain a copy of your credit report.
- Determine how the mortgage you can qualify for. Also explore different loans options and decide what’s best for you.
- Organize all the documentation a lender will need to pre-approve you for a home loan (a mortgage).
- Do research to determine if you qualify for any special mortgage or downpayment-assistance programs.
- Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees.
- Finding the Right Home takes the Right Guide! With the heart of a teacher, Tony Clark Realtors serve our clients as a trusted resource. Our Realtors will help you find potential homes, negotiate contracts, obtain inspections, and guide you through the home buying process. Tony Clark Realtors exhibit utmost care for our clients. Client loyalty is rewarded by diligent agents who work around the clock!
As Realtors, we are active members of our local, state, & National Association of Realtors, and adhere to its strict Code of Ethics and all state laws. For more information, Connect with Us! 270-926-0055
Tony Clark Realtors believes everyone should feel confident when buying and selling a home. We are here to be your trusted adviser. Since 1976, we are the Owensboro Kentucky market expert.
Tony Clark Realtors | 2934 Frederica Street Owensboro, Kentucky | (270) 683-SOLD