Related Posts
Visual Storyteller
Best cashback credit cards in the UAE?
More Posts
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
Sign Up to see all discussions
- Discover what it’s like to work at companies from real professionals
- Get candid advice from people in your field in a safe space
- Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.
"" is an unusual email domain. If correct, please proceed to the next step
Messaging rates may apply
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
New to Fishbowl?
Download the Fishbowl app to unlock all discussions on Fishbowl.
Share
Embed this post
Copy and paste embed code on your site
Preview
Download the
Fishbowl app
Scan your QR code to download
Fishbowl app on your mobile
Sign up for free to view this conversation on Fishbowl
Sign up for free to continue using Fishbowl
Messaging rates may apply
Be sure to have a good home inspector lined up. And have a bit of extra $$ set aside for the inevitable things you need for house/yard maintenance that you may not have needed while renting.
Mentor
Have extra money set aside so when something breaks (and something is always breaking) it’s not a financial stressor. Also live in your house for a while before making major changes, buying expensive furniture, painting the whole thing…your tastes will change once you really get a feel for the house after living in it. Everybody told me this and I ignored their advice and now I hate the color of my kitchen cabinets and want to have my whole house repainted.
Yes A1! I used giffy (https://www.giffywalls.in). It seems fake cause it comes from overseas but it is real and the shipping was quick. The stick is very strong but also doesn’t ruin the paint beneath it and it can be repositioned if you need to. Also they send them to you in precut panels so all you have to do is measure your space and they do the rest. 10/10 recommend. I’ve also had good luck with nextwall (from amazon) and origin 21 (from Lowe’s).
Take a first time homebuyers class. Most major realtors offer them for free. They are informative on the homebuying process and home ownership in general. Also don’t forget about closing costs. They can be more than a down payment sometimes and I don’t feel they get the same level of attention.
Is there a reason you are putting 10% down vs 5%? In addition, are you 1st time homebuyer? If so, you can qualify for 3% down on a conventional loan along with other programs that are not income restricted
Congratulations OP! That's a great place to be. I guess keep doing what you're doing. Save your money and try not to add any more payments right now so you can just focus on the house!
You only need 5% down for a house. Also plan for a decrease interest rates. Check on fha loans. Find a good realtor to help guide you on a house. Figure out what you want to spend and where you want to live.
Congrats! I purchased my first house a few years ago. I put as much as I could down to try and lower my monthly payments…looking back, I wish I would have put the minimum down, waited a month or 2, then put the rest down on the principal. Would have knocked years off my mortgage.
But do what is best for you and enjoy the process! It’s an exciting time!
In addition to the above, this is a great book to lean on for all the questions that come up during the process: https://www.amazon.com/Questions-Every-First-Time-Should-Fourth/dp/1524763438?dplnkId=30d09699-62fc-4401-b4f9-768abdd83c3f&nodl=1
My advice, contrary to everyone else, is to wait until you have 20% down so you’re not wasting money on PMI. The houses aren’t going anywhere and in fact might get cheaper as the market contracts (at least that is predicted). No harm in waiting a bit longer with a better down payment. But if not, still go for it! Congrats and best wishes in your new home!!