This post was sponsored, and paid for, by SunTrust. All opinions are my own.
I remember the day we closed on our home. That was such an amazing feeling. Yes, purchasing our first home was a long and daunting process, but it was so well worth it! It took courage, but with some confidence, prepping, and planning, we made it happen. This year marks 5 years in our home and it is one of our greatest joys! There are many reasons we decided to purchase a home. First, we did not want to continue to throw away money in rent each month, and instead invest in an asset. Second, we wanted to give our dog more space and a backyard! We have two dogs now with a fenced backyard, and we are so happy with our decision.
If you’re considering homeownership, I highly recommend these resources from SunTrust. SunTrust is helping give you the confidence to move forward- one smart step at a time. If you want to read more on home buying, they have plenty of resources here: https://tap.fit/B1gv9541m
If I had to give you 3 tips to purchasing a home based on my own experience, it would be these:
Examine Your Budget
First and foremost, think about your budget. Let’s not compete with the Joneses:) Compete only with your pockets! Examine your finances and figure out what monthly mortgage payment you could afford. Check out SunTrust’s mortgage calculator. Before you set foot in an open house, I would recommend crunching the numbers in your budget and talking with a mortgage lender first. Your housing payment—including the principal, taxes and insurance—should not be more than 29 percent of your income before taxes.
Manage Student Loans
If you have student loans, then start managing them NOW! A mortgage lender considers your monthly income to debt payments to determine if you can afford a mortgage along with paying off your other debts, like student loans. Start organizing and managing your student loans now and talk with a mortgage lender to better understand what you can do now to secure a mortgage loan in the near future.
Consider Home Improvements
Lastly, don’t run from home improvements. If you find a hidden gem in the perfect neighborhood, don’t run from it just because it doesn’t have the aesthetics that you desire. You can always add a few improvements to create the home of your dreams! We have literally renovated almost every room in our home to make it ours!. Home improvements are amazing because you can design and create the home of your dreams. From paint and fixtures to furniture and decor, there are tons of ways to redesign the interior to make it your dream house. One room I designed and absolutely love is my piano room also known as the Black and White Room. I adore this room so much! Not only did we paint the room but most of the wall decor is all DIY! We also did a complete renovation to our kitchen and my husband and I completely did all the work ourselves! Check out all the details of how we did in here including before and after pics here.
This post was sponsored, and paid for, by SunTrust. All opinions are my own.
