A successful homebuying experience is all about getting it right from the start. If you want to have that, then these tips for first-time home buyers will help you through the whole process. From saving money to closing the deal.

Start saving early

Consider a down payment, closing costs and move-in expenses.

• Down payment: this will depend on the type of mortgage and lender you choose. Some conventional loans are as little as 3% for first-time home buyers. Use it to decide you goal and then set up automatic transfers. A good loan will help you save up some money too.
• Closing costs: these are the fees you pay to finalize your mortgage. It typically ranges up to 5% of the loan amount.
• Move-in expenses: save up some money for after you buy your house. You'll need It for upgrades and furnishings.

Decide your home budget

For home buyers this is very important. Figure out how much you can safely spend on a house. This way, a real estate agent can help you search for a house based on your income, down payment, credit score, debt and where you plan to live.

Strengthen your credit

A good credit score will determine whether you qualify or not for a mortgage. So, try following these steps in order to strengthen your credit:

• Get copies of your credit reports and dispute any errors that could hurt your score.
• Pay all your bills on time.
• Keep credit card balances low. Or at least, as low as possible.
• Keep current credit cards open. If you close a card, that will increase the portion of available credit you use, which may lower your score.

Explore different mortgages options

There are some categories of mortgages available for first-time home buyers. For example: 30-year fixed-rate with low payments and 15-year loans with higher payments.

Compare mortgages rates

The Consumer Financial Protection Bureau recommends comparing mortgage rates and fees from multiple lenders in order to know which could benefit you more when buying a house.

Get a preapproval mortgage letter

Apply for preapproval mortgages when you're ready to start shopping. A lender will pull your credit score and review documents to verify your income, debt and assets. This way it shows that you are a serious buyer.

Choose a real estate agent

A good real estate agent will help you and guide you through the negotiation and closing process. You can get agent referrals from other home buyers.

Pick the right house and the right neighborhood

New home buyers need to weigh the pros and cons of different types of houses. Taking into consideration their lifestyle and budget. Think about your long-term needs, if you want a starter home or you want to settle down and have a family... Check out potential neighborhoods and choose one with all the amenities that are important to you.

Stick to your budget

Home buyers, please stick to your budget. A lender may offer to loan you more than what is affordable to you or you may feel pressure to spend outside your comfort zone. To avoid that financial stress down the road, set a price and stick to it.

Pay for a home inspection

A home inspection is a thorough assessment of the structure and mechanical systems. Professional inspectors look for potential problems, so you can make an informed decision about buying the property. Here are some things to keep in mind:

• Standard inspections don’t test for things like radon, mold or pests. Understand what's included in the inspection and what other inspections you might need.
• Make sure the inspector can get to every part of the house, such as the roof and any crawl spaces.
• Traditionally the buyer attends the inspection. By following the inspector around you can get a better understanding of the home and ask questions on the spot. If you can't attend the inspection, review the inspector's report carefully and ask about anything that's unclear.

If you’re planning a move to an unfamiliar city, state, or even another country, keep the following tips in mind in order to choose for the perfect neighborhood for you.

Renting before buying

If you are moving to a completely new neighborhood, then it may be a good idea to rent a place first. It is literally, “trying before you buy.” So you can determine whether you want to stay in that area for the long run or just a few months.

Renting a place first may also increase your chances of making a better decision when buying a house. This is because when trying to buy a home, you have to take into consideration every little detail about it.

Evaluate living costs

Consider cost of living factors such as fuel and/or transportation costs, food, utilities, healthcare costs... Some cost of these factors vary within commuting areas. For instance, some impose local income taxes, while others don’t. The same happens to healthcare and insurance costs.

Prioritize safety

Safety and comfort come first when picking out a neighborhood. You’re not going to enjoy it if you feel unsafe in your new home. Before you move, research the criminal rate in the neighborhood.

Crime statistics and neighborhood stability are connected. Less desirable areas may have lower prices. So, it’s important to know where you are going and the conditions of the community.

Consider transit options

When moving, try to choose a neighborhood where you are near your job. If it isn’t that close, then it has to have optimal transit connections so you are able to move from one place to another. Consider also whether your candidate neighborhood also has access to other forms of transit in case there’s a lot of traffic. Maybe a bus or train.

Look for neighborhoods with amenities, such as sidewalks and bike lanes, so you can exercise outside. To evaluate transit options in the area, check out the city or county transit authority’s website.

Narrow your choose

The process of finding a suitable house for you involves compromise. This is because it is based on many factors like: your family’s size, your budget, your housing type, what kind of location you prefer, if it is relatively close to work or maybe school...

Of course, some considerations are more important than others. For instance, your budget. Others are more subtle, such as: having a nice yard or an onsite storage.

Though some neighborhoods have a wide mix of housing types, other areas do not. Depending on where you are moving then, you may need to expand your search radius in order to find a suitable home that fits your needs.

Evaluate school quality

If you are planning on having kids, keep in mind the availability of high-quality public or charter schools. Depending on the size of the school districts in your new area, finding a high-quality district might require moving some miles.

However, high-performing districts often have higher property tax rates. Even renting. So, if you do not plan on having kids that immediately, then try to move to a district where you can save some money for the future.

Leverage local connections for specific insights

You should definitely take advantage of the fact that there is a lot of people that enjoy talking about where they live. If you’re able to visit them, you can take a look at the neighborhood, and all the things we have been talking about.

You are making a life decision, so try to research as much as you can in order to make the best one. In case you are decided to buy, you can read this article about how to choose your dream house or apartment in 6 simple steps.

Before starting your home search, you need to learn first the ins and outs of its process, since it can be a long one. This list can help you make the best decision for you... and also your wallet. In order to do so, you need to consider when it is a good time to buy a house.

Is now a good time to buy a house?

If we base it on mortgage and home-price trends, it is safe to say that’s a relatively good time to buy a house. Experts believe interest rates will stay low this year.

When thinking about buying a house, you need to consider whether you want to put down roots or not, how secure is your job, if you have the budget to repair or maintain the house, do you want a family?

After you’ve answered this, you need to have your finances organized and your credit in order to secure the home of your dreams. Keep in mind that the best time of the year is starting right now, since on holiday season there’s fewer people searching.

Step-by-step guide

How to get started:

Before you buy a house, you have to define your personal and financial goals. So, make a list if what you want in your home, what location, also if you have some must-have amenities...

Check your credit score:

Check your credit score, so you know what options you have in order to buy a house: loans, mortgage, company credits... Consider how your score impacts your interest rate.

Create a house budget:

How? Set a realistic budget to buy a house. This way, you know what you can afford and how much your all-in costs will be when you make the big move.

Shop for a mortgage

It is helpful when getting preapproved for a mortgage. Work with an experienced mortgage lender who can walk you through all you options and ask for a first-time-homebuyer and what other incentives are available to you.

Hire a real estate agent

We can save you time and money by helping you find your dream house. Also, we can negotiate with the seller on your behalf. We just need to know your budget, desired neighborhood and other details to find what you’re looking for.

Visit more than one house

Let your real estate agent know what you want. Visit as many homes you want to see, or search online yourself. And do not forget to prioritize what’s most important to you aside from location.

Make an offer

Talk to your real estate agent to understand how to make an attractive offer in order to increase your chances for the seller to accept it. What’s the result? Putting you one step closer to getting your house keys.

Negociate repairs

Get a home inspection to get an overall picture of the property and negociate repairs of major and minor issues before buying the house.

Secure your financing

Getting final loan approval helps. Double-check your loan estimate and avoid running up credit cards or changing jobs before closing the deal.

Close the deal

Get a final inspection and be ready to close the deal. Review the closing disclosure carefully and ask all the questions you need. Once all of the paperwork has been signed, the house is officially yours. Congratulations!

Last step

After you buy a house, you need to start the moving process, which can be complicated. But, if you complete this step-by-step guide, then you will be able to navigate the first process just fine and then you will be able to do the same the second time around.

Want to know how do decorate it? Don’t miss reading this article about how to decorate you new home’s living room.

The living room is the heart of the home. It is the place where you enjoy time with your friends and family or maybe enjoy some alone time. Since this space is used in many different ways, it is important that its furniture fits perfectly to your home needs.

If you want both a stylish and functional living room, then keep reading through this article. Whether your goal is to just refresh your living room for the season or completely renew it, here are some ideas:

Modern rustic

This contemporary space would be an open-plan living room that embraces a modern rustic feel. The ceiling and the wall are the ones that inspire the rustic setting, while the mix of vintage pieces blend with a contemporary design.

Rich velvet

The floral cushions provide a delicate arrangement to a beautiful and rich deep-blue velvet sofa. For the perfect finishing touch, add a carpet to make a contrast between this one and the sofa for a wonderful living room space.

Photo by Andrew Wilus 

Botanical

Use vibrant shades of green and moss to bring natural luxury to a neutral space. Include touches of dark grey and white for definition and depth.

Bold backdrop

The abstract floral wallpaper creates a dramatic backdrop, perfect for what we want for this living room. The grey and metallic ceiling details bring a contemporary contrast, while the yellow cushions add texture and softness.

All natural

White walls and wooden furniture create a relaxed and welcoming look. Choose a classic sofa and introduce patterns with a mix of natural colors for the cushions and the rug.

All the way blue

Blue is a huge interior design trend. Soft layers of blue and grey introduce a pallet of class and elegance. Then mix a little bit with texture from the cushions, blankets and a rug. Contrast the soft colours with a statement coffee table and wooden details.

Foto de Flor creado por pvproductions

Opposites attract

The best way to have a beautiful living room is playing with its style. Here is a mixture of grey and brown that bring an elegant feel to the space. Also, a mis of textures and patterns between the cushions and rug. It aims to create a cosy and classy zone.

Photo by Alex Qian

Pop of color

Use neutral colors for all the space and give details of brighter colors around the space. You can mis from shades and shapes, to patterns and texture. Combining these will provide another sensations to small spaces. And it also looks so good!

Photo by Andrea Davis 

Artistic

Now, it is the perfect momento to turn your living room into a masterpiece. Use a pallet of colors that help you harmonize the space. From the fabrics, to the patterns. From textures to geometrical details. It is going to be the perfect balance between furniture and decorative pieces.

Photo by OTAVIO FONSECA 

Antiques

You want to be classy? Here’s a modernized antique kind of living room. It is the perfect mix of nude colors and textures from the cushions to the walls. The golden details in the artwork gives the space the wanted elegance, and so does the beautiful chandelier in the ceiling.

Photo by OTAVIO FONSECA 

Simple and modern

Here it is. The perfect mix between modern and cozy, simple yet elegant. There is nothing more classy than shades of grey. It adds dark green cushions that contrasts with the sofas. And they all match with the white furniture and nude floor.

Photo by Cleyder Duque 

Find your dream house with these 6 simple steps. In Eloy Villamil and Team we are here for you to guide you through it all.

Moving or relocating is part of life, which makes the whole experience even more exciting. It is normal to feel overwhelmed by all the things to keep in mind when looking for a dream house. From finding a good location, to all equipped houses or apartments, and what not!

So, before you sign the contract, it is important that you answer all the crucial questions. In order not to lose track of these, here is a guide that will help you find your dream house. All you have to do is follow 6 simple steps:

1. Choosing location

The location of your apartment or dream house must be your primary focus. It needs to be near everything you would ever need: a hospital, a pharmacy, a supermarket, maybe a school, shopping malls, a place that is close to your job... and most importantly: a neighborhood that is safe.

2. Choosing layout design

When it comes to layouts, it can be tricky because there are multiple options. You need to think about the kitchen spacing, for example. You also have to think about family: are you going to live alone or with other? How many? Do you have kids? Are you thinking about having them? Do you need a play area for children? Or maybe a guest bedroom and a large dinning room...

3. Choosing the space

After choosing the layout design you need to have the details of your dream house in terms of space. You should check whether it has the number of rooms you need, how big these rooms are, how big the kitchen is and how safe it is. Also if you have balconies in an apartment, how spacious are they going to be? These are some things you should keep in mind.

4. Considering the amenities provided

You should also know what amenities do you feel are essential for you. This way, if the property offers these amenities, you can choose between a dream house or another depending on houses that include these at the same or with an additional cost. Let’s say: a gym, a spa, maybe a clubhouse, a parking space, a park and many more..

5. Consider your travel to and from work

A big decision you need to make is how close or connected you want to be from work. Your dream house needs to be connected to access points in the city such as bus stops, railway stations, the highway... whatever you may need in order to get to your office.

You also need to take into account the potential traffic in the area you are searching your house. A simple way to check this could actually be driving through the area in peak hour and how much time would it take you to arrive from your potential house to your work.

6. Be careful with the documentation you are about to sign

Once you have gone through all of these steps and you feel you found your dream house, all you have to do is sign the contract of your new home. Now, you need to read all the documentation carefully.

Remember to check for everything: from the agreed price to all the amenities you need or want, to the maintenance charges. The best thing you can do is to understand your contract and then sign the dotted line.

Finding your dream house can be an easy task if you follow these easy steps. Just keep them in mind and in no time you will have all you ever wanted as a home. In Eloy Villamil and Team we are here for you to guide you through it all.