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Tips for First-Time Homeowners

Buying a fixer-uper

Are you buying your first home?

You have finally reached that point in your life where it is time to buy your first home. As a soon to be first-time homeowner, home buying can be an extremely intimidating and daunting challenge.  Purchasing a home and becoming a first-time homeowner is not something you can easily just jump into. To make sure you are ready to become a first-time homeowner, here are a few homeowner tips to prepare yourself for your future.

Prepare for your down payment

One of the most important homeowner tips to know and understand is that you need to be ready to make a down payment. The more money you can put towards your down payment, the easier your mortgage will be to handle. If you can reach the 20% max that most down payments have, your mortgage will be much cheaper, and your wallet will thank you for that. As a soon to be first-time homeowner, you should start saving immediately for your first down payment. You should save your tax refunds and any bonuses you get from work to put towards your down payment.

Pay off previous debts

An important part of buying a home, especially for a first-time homeowner, is making sure you go into the purchasing of your new home debt free. If you are able to, try and pay off as many of your outstanding debts as possible, especially considering they will have an impact on your credit score. If your credit score is not good enough, most likely due to these debts, you could potentially be denied your loan and no longer be able to afford your first home.

Location, location, location

Another critical aspect of being a first-time homeowner is making sure you find the perfect location for you and anyone else who may be living with you. This homeowner tip is not one to take lightly because the location of your new home is as important as the home itself. Many first-time homeowners do not realize just how important something like the school district their home is in is to the value of their home.

Your First Home with Thomas Builders

Whether you are looking for the perfect home for your family or looking to create your ideal home from scratch, Thomas Builders has over 25 years of experience in new home construction and the expertise to bring your dreams to life. We offer 10 ready to build models in addition to custom services at an affordable price. For more information, contact us online or give us a call at (301) 863-5550. If you want to see some examples of our beautiful work, follow us on Facebook, Twitter, Pinterest, and Google+.

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