Checklist For Buying Your First Home

Buying a home, whether it is your first or fifth home, is a big investment and a long term monthly payment so you want to make sure that you are getting the home you want. If you have bought a home before you know the steps to take from start to finish but if this is your first home you may be wondering where to start. The ideal place to start is with a list. On this list you should include:

– Your budget which should include your down payment and what you can afford to pay each month. You also need to take into consideration homeowner’s insurance and property taxes. There should also be some each month set aside for emergencies like repairs, an appliance goes on the fritz, and home improvement. Making up a budget will also help you to narrow down the price range of the house you can comfortably afford without straining your budget.

– What type of house you are looking for and the amenities such as a huge fenced in back yard, the number of bedrooms you want, a large kitchen, family room, basement, etc. Also do you want a home with one level or two levels, ranch style home, farm type home, cottage, etc?

– Next on the list should be the location. Do you want to live in or out of the city, how many miles do you want to have to travel each day to work, to go shopping, etc.

Now that you have that list made it is time to contact a real estate agent and let them know what you are looking for. Once you have found your dream home there are things that you need to make sure that you see such as:

– The home inspection report that you have done so you can assess the quality of construction, if there are any problems with the house and if they are major or minor which means will they or will they not be expensive to do.

– Seeing the seller’s property disclosure statement which gives you a through look at the property and what condition it is in.

– The title report that is issued by the Escrow Company which is considered a third party that ensures that all the conditions of the real estate transaction have been met. This title report is what tells you if there are any encumbrances, which are claims against the property like deed restrictions, liens, encroachments, that could affect any structural additions you might want to add to the property later.

Before seeing a real estate agent and looking at homes you should look at your credit rating to see what type of credit you have. You could also try to get a pre-approved loan that can help you when you find that perfect home and want to make an offer on it. Seeing that you are pre-approved for a loan will help to delay any financial problems that might come up if you wait to apply for a loan.

The article is written by Mohit Jain who is a real estate investor and has bought/sold properties in residential projects in Kolkata, India. She has also worked with companies like Ruchi Realty to promote their real estate Kolkata projects. Visit Ruchi Realty at

The article is written by Mohit Jain who is a real estate investor and has bought/sold properties in residential projects in Kolkata, India. She has also worked with companies like Ruchi Realty to promote their real estate Kolkata projects. Visit Ruchi Realty at http://www.ruchirealty.com

Author Bio: The article is written by Mohit Jain who is a real estate investor and has bought/sold properties in residential projects in Kolkata, India. She has also worked with companies like Ruchi Realty to promote their real estate Kolkata projects. Visit Ruchi Realty at

Category: Real Estate
Keywords: Apartment in Kolkata, Flats in Kolkata, residential project in Kolkata, Real Estate Kolkata

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