Planning for Your First Home
Justine Chan, Founder of LiveWithPlum.com discusses the pre-home buying process – from mistakes to avoid, to tips for saving money & stress. Plus, “CentsAble” Bobbi shares budgeting tips for buying your first home.
In This Episode
- First-time home buyer mistakes
- Understanding the process
- The timeline for buying a home
- The 3 stages of home buying
- Why the pre-home buying stage is critical
- Benefits of a good credit score
- Choosing the best mortgage option
- A holistic look at homebuying
- Why criteria is an important first step
- Budgeting for homebuying
- Why doing the math is critical
- Budgeting for costs associated with homebuying
- Budgeting for ongoing homeownership costs
- Renting versus buying
- Answering the “can I afford it?” question
- Saving for the down payment
- Should you DIY or get an agent?
- Benefits of pre-approval