Froodee

Living.Blogging

  • Home
  • About Froodee
  • Send us Email

Financial Tips For Purchasing Your First Family Home

October 6, 2020 By Ina

Purchasing a home for yourself is one thing, but finding the right place for yourself and your family is quite another.  You want a place where your family can live happily, and making smart financial choices along the way is a huge part of achieving that goal.  

With a little research and financial preparation, you and your family can comfortably own the home of your dreams.  Start learning now, and read through some simple financial tips for purchasing your first family home.  

Research the current mortgage trends 

Before you get too deeply attached to any one property, start with a more broad standpoint.  Get a good feel for what you might be looking to pay for a great home by checking into a home loan comparison tool.  

Getting a good idea of the market before you jump right in will help you scope out a better deal.  Come to the bargaining table with as much knowledge as possible, so you can find the best prices for your wallet.  

Work to refine your credit reports 

You will need a decent credit report to find the home you and your family really need to thrive.  Start working on refining your credit reports at least one to two years before you plan to make the move on purchasing a home.  

The higher you can get your credit score, the better home you’ll be able to acquire.  Work to alleviate the strain of erroneous debts as well by disputing every charge individually.  

You need a healthy savings 

You will need quite a healthy down payment to get your family into the home of your choosing.  It’s best to save up at much as possible for a down payment to make your mortgage plans a bit more manageable.  

A solid ten percent of the purchase price is common, but you could do yourself a favor by saving up 20 percent for a down payment.  You’ll need extra friends for security after you purchase your house as well, so make saving a regular part of your financial plans.  

Get a preapproval letter from the bank

Once you have all of your financial paperwork in order, you have to present yourself to a bank for a loan.  The bank will want to know some very specific information about your personal finances and your financial history, so prepare to feel a little violated.  However, once you have a preapproval letter in hand, it will be easier to present an attractive bid to sellers.  

Consider the cost of making a house a home

Once all the purchasing is said and done, your financial responsibilities are just beginning.  Saving for a down payment is only a beginning step.  Once you purchase a home, you will need money to make your house a home.  

5 Plumbing Basics You Should Know Before Buying a House

April 15, 2019 By Olivia M

While there’s no way you’re going to become as qualified as a professional plumber after reading one article on the internet, you’ll certainly be more knowledgeable.  By boosting your plumbing know-how you’ll not only save yourself potentially messy problems, but you’ll also save a lot of money.

Sometimes calling a professional plumber is inevitable. However, unlike renting tenant, a homeowner has to cover the charges.  Therefore, it’s in your best interest to DIY wherever you can. There are a few key plumbing tips that can avoid disasters in a pinch.  By applying these basics, you can help keep your plumbing system running smoothly.

[Read more…]

Should You Buy or Rent?

January 2, 2015 By Teresa

After finishing college, you stayed at home for a couple more years. This gave you an opportunity to start saving up a sizeable amount of cash. But lately, you have started thinking that it might be nice to get a place of your own. Living with Mom and Dad was great while it lasted; however, having your own home would provide you with more privacy and freedom. While looking around through Houston rentals, you begin to wonder if it would not simply be better to buy your own home instead.

You did save up enough money for a sizeable down payment. But is a fifteen to thirty-year mortgage really something you are ready to commit to paying off? Whether you should rent or buy is an age-old dilemma for a lot of young adults looking to strike out on their own for the first time. It is a fork in the road that is riddled with uncertainty, no matter which way you choose to go; yet, it is a question you will need to answer for yourself soon. One reason is because you are not the only one looking for more privacy and freedom. Your parents would like to enjoy these things too, and your dad has hinted at wanting to turn your old room into an office. [Read more…]

Recent Posts

  • 3 Home Repairs To Make Before Selling
  • Financial Tips For Purchasing Your First Family Home
  • Future Self Journaling Guide: How to Set Financial Goals That Pay Off Later
  • 3 Things To Be On The Lookout For After A Car Accident
  • How to Achieve a Better Work-Life Balance