My First Place: Lessons Learned
Seven My First Place homebuyers admit their biggest rookie blunders and reveal recession-proof lessons to guarantee home buying success
By FrontDoor.com | Published: 10/20/2009
Take some time to save money for a down payment before buying a home. Your offer will look stronger to the seller, and you'll have more leverage during negotiations.
#1 Tip: Save money for a down payment
No matter what you might face when going through the process of buying your first home, one thing remains the same: Cash is always king. Saving money for a down payment is one of the most important things a buyer can do when looking to purchase a home. Having money set aside gives you more negotiating power and makes your offer look much stronger to the seller. Putting a reasonable percentage into the down payment also means you will have equity invested in the house from the get-go. Not only that, but having extra money set aside lets you make repairs and improvements once you've moved in.
Learn More: A Dozen Ways to Get a Down Payment >>
No matter what you might face when going through the process of buying your first home, one thing remains the same: Cash is always king. Saving money for a down payment is one of the most important things a buyer can do when looking to purchase a home. Having money set aside gives you more negotiating power and makes your offer look much stronger to the seller. Putting a reasonable percentage into the down payment also means you will have equity invested in the house from the get-go. Not only that, but having extra money set aside lets you make repairs and improvements once you've moved in.
Learn More: A Dozen Ways to Get a Down Payment >>
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Keywords: home, house, real estate, buy a home, first-time homebuyers, My First Place, HGTV, tips, advice, inspection, down payment, offers, neighborhood, financing, loan, mortgage, home improvement, renovation
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