BY SUSAN SCHEIFFLEY
Buying your first place can be a daunting task. Here are several tips for current renters who are considering taking the plunge.
Mental Hurdle: Assuming That You Can’t Afford to Buy
You’re paying rent to live somewhere and believe that buying a home is beyond reach. Think of a mortgage as “rent with benefits.” Visit your bank and talk to a trusted lending advisor. This person will take the time to put you on the right path, including recommendations to correct any credit issues, as well as suggestions regarding what debts to pay and how much to save for down payment. You might even discuss different types of loans and their related requirements.
The Process: Deconstructed
Make an offer. Negotiate. Agree on terms. Remove contingencies. Settle. Don’t overcomplicate the process. Hire the right guide, and you will be choosing paint swatches in no time flat.
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Tagg Magazine is a print and online resource for LBT women in the DC Metropolitan and Rehoboth, DE areas.