3 Things To Know as a First Time Home Buyer In Springfield, MO
Posted: March 10, 2017 by Alex Fowler
Home ownership. There is nothing like buying your first home! If you are looking for homes for sale in Springfield, MO and you are about ready to purchase one, here are some great tips to help you out.
You Don’t Pay The Agent’s Commission as the Buyer
A lot of people often think that you have to pay a real estate agent when buying your first home in Springfield, MO. The thought of having to shell out extra cash when you are already saving as much as possible for your down payment is enough to make some people completely terrified. However, many are surprised to find out that you do not pay the agents commission as a buyer. The agent actually earns their commission from the seller side of the transaction.
Focus on Your Monthly Mortgage Payment, Not the Entire Thing
for a mortgage is generally the first step you should take as a first time buyer. A common mistake that most people make is they often look at the price of the entire house rather than the monthly payments. You may get approved for a $450,000 home, but this may not necessarily be what you can truly afford. There is always a high end and a low end that the advisor will give you for a range. It is up to you to figure out what you are comfortable paying each month. It is crucial that you work with your advisor to understand how your down payment amount, credit, and the current mortgage rate affect your monthly payment.
Make the Jump!
GO! There will be several moments throughout your home buying process in Springfield, MO that will make you nervous. This is totally natural. You are always going to wish for more things like more money in the bank, a backyard that was just a little bigger, or that you were just a little more sure what direction your life will be taking in the next 5-10 years. Here is some advice: if you feel comfortable with the payment, love the location and “bones” of the house, and will feel proud to make this house a home in Springfield, MO, then take the leap and don’t look back. You won't regret it!
If you have any question or need advice about smart homes in Springfield, MO, or if you are looking for homes for sale in Springfield, MO, you can find one of our real estate agents on our website at http://www.cbvanguard.com/ or call our office at 417-887-6664.