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Hey Isaac,

Your home is likely to be the most expensive purchase you ever make, that is why the process is usually thrilling and terrifying. If you are getting ready to buy your first house, take a deep breath and read these amazing first-time home buying tips.

1. Plan for more than down payment

Most first-time buyers plan to pay a down payment but fail to plan for other costs that are likely to come up. Other expenses that many buyers don't account for include home inspector's costs and signing costs. These charges depend on the size of your home. Budgeting comprehensively reduces your chances of getting disappointed.

2. Plan for upkeep expenses

When you are renting a house, your landlord handles maintenance costs like replacing old appliances and fixing the windows, roof and anything that breaks. When you buy your home and the heater stops working, it is your responsibility to repair it. Set aside 2 percent of your home's value for annual maintenance costs.

3. Know how much you would like to spend every month

It is advisable that you don't spend more than three times your annual salary on buying a home. However, that is only a guideline, and you can spend less than that. In case you have several jobs but you don't plan on keeping them on a long-term basis, consider one income as you budget. If your partner is considering being a stay-at home parent in the future, don't budget for their income either.

4. Factor in moving expenses

Moving is no cheap feat. Consider the costs of paying the movers and moving supplies. In case you will be breaking your lease, you might be charged for that too. Don't depend on getting your security deposit back because you might be disappointed when you aren't given.

Patrick
Account Manager
​educationproper.com​

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