How Much Money Do Home Buyers Need to Buy A House?

Congratulations for deciding to take the first step toward owning your own home.  It’s big step and  you are doing the right thing…get prepared so you know what is ahead of you.  As a Sacramento Realtor, I love helping 1st time home buyers to find their new home and walk them through the process so that every question is answered.

It is always a good idea to know just how much money as a first time home buyer you will need when buying a home for sale in Sacramento and the surrounding areas.  The more you know, the less stress you will have and the better prepared you will be.  Prices do vary and this real estate video will give you a good idea as to how much money you will need when buying a home.

If you are getting an FHA loan you will need to have 3.5% of the sales price to put down on the house.  You will also need to write a good faith deposit check for at least 1% of the sales price and this money will go toward the 3.5% you are putting down.

As a home buyer obtaining a loan, you will be expected to pay for an appraisal, otherwise the lender will not loan the money you need to purchase a house.

Below is a list of a few inspections you might choose when purchasing your next home:

• home inspection
• pest inspection
• pool inspection
• roof inspection
• well inspection
• sewer inspection

Now, you don’t have to have all those inspections but you should have the inspections that pertain to the house you are buying.  This helps protect you and could be a deciding factor on whether as a home buyer you decide to move forward and buy the house based on the reports.  But most of all, it gives you a tickle sheet for making those repairs when the house becomes yours.  Just think you will have a list of repairs to make when your budget allows.

An experienced Realtor will help guide you and be able to refer the professionals needed for the inspections you choose.

Be sure to check out the videos and articles for home buyers so you feel more comfortable moving forward and once you become a homeowner, there are more videos for you to take a look at here on Sacramento Real Estate Voice.

Now, let’s look at some homes for sale and get started finding your home.

Other Videos To Help Home Buyers:
Sacramento Videos for Home Buyers
Sacramento Videos For Homeowners