First Time Home Buyer

Is This Your First Time Buying a Home?

First time buying a home? Woohoo! More space, no landlord telling you what to do, room for a new furry friend—we get it. Your first home is a huge milestone, no matter what stage of life you’re in, and Gusty Gulas can help guide you through it.

Before you decide, there’s a lot to consider when it comes to buying your first home.

Maybe you already know this, but buying a home is a smart investment. It takes the pain away from tossing money at rent every month, and if you’re planning on starting a family (or already have one), it gives you more long-term leverage for building assets and wealth.

Determining what you can afford is key—usually a down payment costs zero to 20% of the purchasing price. Gusty Gulas can guide you through federal and state assistance programs that lower costs to first-time homebuyers, as well as leading you to year-end tax breaks which are also enormously helpful.

In addition to a down payment, you need to consider:

  • How much money can you pay on a mortgage every month?
  • Do you have enough cash to pay monthly insurance, HOA fees, and one-time expenses?
  • Are you willing to pay for repairs, maintenance, etc.?

We know—it’s a lot to think about but these factors are important, and the Gusty Gulas Group is here to support you, all the way.

01

  • GETTING READY
  • There are a lot of considerations when purchasing your first property, but it’s worth it—trust us!

02

  • MONTHLY INCOME AND COSTS
  • You, or you and your partner, will need to do the math for monthly income, expenses, and bills—to make sure you can adequately meet new commitments.

03

  • DEBT
  • If you have debt, you’ll need to factor this in as well—it shouldn’t be more than 40% of your income.

04

  • CREDIT SCORE
  • Your credit score is an important factor in applying for a mortgage—if it’s too low, you may need to take some time to reconsider, or to strengthen your credit.

05

  • HOMEOWNER’S INSURANCE
  • Without homeowner’s insurance, you can’t apply for a mortgage.

06

  • INITIAL COSTS
  • You’ll need enough cash for the refundable “earnest money” deposit, the down payment, and any closing costs.

07

  • HOME INSPECTION
  • Before you close on your sparkling new digs, you’ll want a home inspector to look everything over—carefully.

08

  • APPRAISAL
  • Getting your new home appraised ensures you’re paying a fair price for what you get.

09

  • CONGRATS!
  • Gusty Gulas knows it can feel like a lot, but don’t let it intimidate you—we’re here to make the whole process more empowering than imposing.
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