As winter settles in the rearview, springtime takes a hold and brings with it warm days, green trees and revitalized gardens. Spring also ushers in the home buying season. This can be both exciting and daunting at the same time, especially for first time home buyers.
Veterans and active military members have access to VA home loans. However, if it’s their first time purchasing a home, simply having access to a loan is not enough. Doing research in advance about both the loan and about how to go about purchasing that first home is vital to the home buying process.
The first thing a prospective homeowner needs to understand is their budget. Going into the process knowing exactly what you can afford and working forward from there is the best approach. This way, there is no time wasted on touring houses that are out of your specific price range.
It’s also a good idea to tour the neighborhoods of the homes you’re interested in. Not only can you get an idea of the community, you can also learn what services and shopping are nearby and whether there are recreational areas like parks and pools. If you have young children it might be important that there are other children in the neighborhood. You can also learn what school districts are in the area and plan your purchase accordingly.
After you’ve narrowed down your options based on budget and neighborhood, you should make a list of home necessities and the features you want in the home. However, be sure the list is financially realistic. Don’t let a feature like a two car garage or a recently renovated kitchen make or break your decision. Keep in mind that you can always renovate your new home in the future.
Before you make the final decision, it’s important to grasp the full cost of home ownership. You will be responsible for costs other than the loan. There will be property taxes, regular maintenance, and homeowners insurance as well. These costs along with a mortgage can add up quickly, making it crucial you know your budget and just how far you can stretch your money.
Securing your VA Loan is an important part of the home buying process. There are certain requirements that need to be met. You can review these requirements at this link.
Also, you can always give Ryan a call with any questions you have about VA Loans.