Wednesday, 1 Dec, 2021

THE ROAD TO HOME: Our comprehensive guide to buying your first house

Kazi Awal/Insider Alyssa Powell/InsiderThe pandemic caused a housing frenzy.Buying a home right now is daunting - but exhilarating.A new Insider..

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The Road to home, repeating pattern of homes with sold signs and shortage of homes with sale signs
  • The pandemic caused a housing frenzy.
  • Buying a home right now is daunting - but exhilarating.
  • A new Insider series, "The Road to Home", can help you navigate the process.

The real-estate market is cutthroat. But Insider is here to help.

We just published a series focused on advising first-time homebuyers through the daunting - and exhilarating - process of purchasing a home.

From straightening out your finances to navigating the market and making the perfect offer on your dream home, we're here to guide you every step of the way on your road to home.

Below, find an archive of stories to reference during your homebuying journey:

Buying a home for the first time? Good luck. You'll need it.

The US is short millions of houses, and builders construct fewer starter homes because they're less profitable. Read this to find out why Millennials and Gen Zers should brace.

How to know if you're ready to buy a home

Read this to assess the pros and cons of renting vs. buying and evaluate your finances to see what you can afford.

Take this quiz and find out if you're financially ready to buy a house

Input your ideal home size, dream home location, annual income, credit score, and monthly debts to find determine whether or not you're financially prepared for a home - and what your mortgage payments could look like.

How to determine your homebuying budget

Learn about the 28/36 rule as a guideline for how much debt you can have and still land a mortgage.


The Road to home, hand holding phone with coins representing down payment
Alyssa Powell/Insider Tips for saving for a down payment

Read this for tips on how to save for your house, like setting up automatic deposits to your savings.

How to find a mortgage lender that's right for you

Read about applying for preapproval with multiple lenders and then comparing interest rates.

11 programs that help first-time homebuyers get a mortgage

Find out if you qualify for programs that help first-time homebuyers qualify for mortgages, from government-backed loans to state-specific grants.

The most important people and terms you should know when buying a home

Homebuying jargon can be confusing. Study up on common real estate, closing cost, and mortgage terms.

How to know when you're being discriminated against while trying to buy a house

Learn to watch out for coded language when house hunting. Phrases like "a different neighborhood might be a better fit for you" could signal discrimination.


The Road to home, hands shaking and making an offer
Alyssa Powell/Insider How to know if a house is right for you

Ask yourself these questions while house hunting to tell if a particular home fits your financial and emotional needs.

How to write the perfect offer letter to get the house of your dreams

Agents shared their best advice on how to present a compelling offer letter and what to avoid.

How to make a successful offer on a home

Read this for tips on making on offer. For example: you could have better luck making a successful offer on a home if you work with a Realtor (yes, with a capital R).

After losing out on 6 homes, I added a simple clause to my offer that helped me win a bidding war and save $9,000

After getting beat out by investors and all-cash offers, Iona Brannon used an appraisal gap clause to make her home offer stand out.


The Road to home, facepalm man feeling home-buying regret
Alyssa Powell/Insider How to avoid the most common mistakes homebuyers make

Brokers shared homebuyers' biggest gaffes - whether underestimating renovation costs or making financial mistakes - and how to avoid them.

I waived the inspection on my home, and it's cost me a fortune. Here are 5 things I'd tell first-time buyers before doing the same.

Learn tips from a recent first-time buyer. For example: Bring an experienced homebuyer with you when you go to look at your "dream home."

I'm a first-time homebuyer. Here's what I regret about buying my home.

Hear from multiple first time homebuyers about their experiences and biggest regrets about their purchases and what they would have done differently.

Giving up my dream of living in Dallas helped me find a perfect home for under my budget, and I couldn't be happier

Read about how adjusting expectations can help your house hunt. After losing out on many homes in Dallas, writer Alex Temblador decided to expand her search to the suburbs and ended up with a dream house.

Read the original article on Business Insider


By: [email protected] (Business Insider)
Title: THE ROAD TO HOME: Our comprehensive guide to buying your first house
Sourced From: feedproxy.google.com/~r/businessinsider/politics/~3/TJ3C2_-cIxY/road-to-home-comprehensive-guide-buying-your-first-house-2021-10
Published Date: Fri, 22 Oct 2021 19:23:16 +0000