Mortgage Loans Nebraska: Be A Knowledgeable First Home Buyer
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Things Every First Home Buyer Should Know

If you’ve only rented properties like apartments, condos or townhomes your whole life, then you probably understand how exciting the thought is to finally purchase and own a house that you can truly call yours. Naturally, there’s a lot of financial responsibility that comes with this territory, not to mention maintenance upkeep, HOA compliance, and so forth. Still, you know that having the freedom of your own home is worth navigating these first-time homeowner responsibilities, and we applaud you for that! 

We Can Help You Secure The Home Of Your Dream

While getting your own home is an incredible milestone in life, it’s nearly impossible to do on your own as a first home buyer. Fortunately, a bank mortgage loan from our community bank here at NebraskaLand Bank can help you find the right housing loan that’s a perfect fit for your income and lifestyle. Over the many years that we’ve helped first time home buyers secure things like a home equity line of credit and general mortgage, we’ve also been able to provide these people with solid advice about buying a home for the first time and what first time buyers can do to prepare themselves. Well, that’s what we’re going to cover in today’s blog post. 

Our Nebraska bank locations offer a number of mortgage and consumer loans that you can learn more about here. If you’re a first time home buyer, absorbing the following information is time well spent! Let’s take a look. 

Location vs Space

Remember that the property you’re considering moving into will likely serve as your home for many years of your life. Purchasing a home is a long-term commitment, and so you’ll need to weigh your priorities carefully before you make a decision. If you settle everything out in advance in terms of what you actually want in your ideal home, you can then make thought-out decisions during the actual home-buying process and avoid the unsettling feeling of buyer’s remorse. Trust our North Platte bank and Kearney bank when we say that you want to avoid buyer’s remorse at all costs! 

Don’t Commit Until You’re Ready

It might be tempting to secure a home that you’re feeling attracted to, but you also don’t want to make any hasty decisions. Before you’ve signed off on anything, you’ll want to thoroughly review your finances to make sure that any possible monthly expenses are accounted for. It also doesn’t hurt to make sure that you’re ready for the long-term commitment of a house on a personal and pragmatic level - you’ll be your own landlord, so are you ready for that level of responsibility? 

In addition to your monthly mortgage payment, you’ll want to figure out how much you’ll be paying for property taxes, homeowner’s insurance, HOA fees and other monthly costs associated with owning your own home. 

Read And Understand The HOA Documents Before Closing

No one wants to sift through a huge stack of papers; we understand. However, carefully reviewing your HOA documents is important if you want to avoid unpleasant surprises down the road. Many homeowners find that months after they move into their home, their HOA dues unexpectedly increase. Well, if these homeowners had read and thoroughly understood their HOA documents, they could have anticipated this fee increase and adjusted their monthly budget accordingly. 

So, if you’re really interested in a home that resides in a community with an HOA, make sure to read through the covenants, conditions and restrictions (CC&Rs), bylaws and budget. Also, be sure to look out for anything else that could affect you in the future. If you want to take the extra step, talk to residents in the neighborhood and get their opinions on how well the HOA is doing its job. 

Check On Those Renovations

If you’re locking down on an older house that’s gone through some renovations in the past, don’t just assume that everything was done correctly and built to last. Paying close attention to the aesthetic details of a home is just as important as the structural details when going through an inspection. All too often, do-it-yourself remodelers use low-quality materials that turn into a problem down the road for future homeowners. 

So, what you’ll want to do is make sure that any renovations were done by a professional contractor using quality materials that are meant to last. Inspecting details up front is very important so that you don’t find yourself shelling out more cash to fix your home later on. 

Working With NebraskaLand Bank Is The Smart Way To Go

Finding the right bank to provide your general mortgage and homeowner loans is equally, if not more important, than these other first home buyer tips. While no first time homeowner is expected to navigate the process perfectly, there are many things that you can do to make the experience as successful and smooth as possible. Learn more about a home loan with NebraskaLand Bank by getting in touch with us today