Case Study A Glimpse Into Buying Your First Home

Improved Essays
A Glimpse into Buying your First Home
1. Intro Envisioning your life after college began from the beginning you drew your first home. In elementary school, art skills are put to the test to bring the house we aspire to have out from our imaginations and onto a white rectangular sheet of paper. The teacher would ask everyone to raise their drawings up for the class to see. All were unique, yet most with the same nonchalant design: a square base, door, one or two windows, and triangular roof. Since it was so easy to build a home when we were young, homes had a simplistic nature in our eyes. First graders learn to improve their artistry in this activity, but they may also subconsciously come to believe that attaining a home in real-life is simple
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Though the younger generation is more susceptible to defaulting on payments and lowering credit score, proper planning can prevent any individual from falling in this predicament. The key is to have a budget and not go over that limit by keeping close track of purchases. It’s advisable not to make large purchases so that one can pay off the credit balance every month. After a while, this will leave a paper trail that may lead to an excellent credit profile. The trust that develops between the you and the creditor will be critical for a home loan.
SAVE MONEY
Acquiring a job will provide a steady source of income and develop financial stability that further proves to creditors you are reliable. Rather than spending all your wage in the present day or even for a rainy day, save a portion for your household budget and home repairs that will cost more than you expect.
1. Once you have graduated from college and are beginning the next chapter of your life journey, you can now consider buying a home, granted you have a good credit history and a secured job. Before brashly jumping into house hunting, one must first consider if they are prepared for the challenges to come. Along with the cost of a home, there’s taxes of all forms, property insurance, broker fees, loan fees that you need to feel confident you can
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Personally inspect the neighborhood and get to know the neighborhood beforehand, so that you don’t make mistake of picking the neighborhood that doesn’t work for you, like barking dogs or the load nose of a train that passes by every day. The home will also need to be inspected by an inspector. If the realtors does find problems with the home, it could lower the appraisal of the home, Though there is a fee for the inspection, it is the ultimate method to ensure a successful purchase.
End
The misgivings of turning a blind eye on the responsibility of buying a home are endless, from higher interest rates to not being able to buy a home at all. Though it is far off in the future, a constant effort needs to be made to put oneself in the ideal financial situation for purchasing a home that’s more than

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