New Year, New Home: A Checklist For First-Time Homebuyers

Are you preparing for the New Year with plans to buy a new home?  Buying your first property is an exciting endeavor.  Owning a home truly is the American dream!  Fortunately, navigating the housing market and financing world doesn’t have to be intimidating with help from a REALTOR®.  To stay prepared during the home-buying experience, follow our checklist specifically tailored for first-time homebuyers:

Savings

Are you questioning whether or not you can afford a home based on income and savings?  Many people are surprised to find that they can afford a home.  With the help of REALTORS® and lenders, it is relatively easy to create a plan for paying your mortgage.  Based on savings and income, there is a home that will fit your budget.  

Income

Can you afford to pay the bills on a monthly basis?  This is possibly the most important step when looking for your first home.  If you are currently renting, chances are you can afford a home!  While you have to think about payments including water, gas, and home-related costs, they are typically of similar cost to renting.  In some cases, it can even be substantially cheaper to buy than rent.

Credit Score

Many first-time buyers are under popular belief that they have to have a perfect credit score in order to put a down payment on a home.  With the average credit score of approved loans continuously lowering, you can now get a loan if you have lower than an 800 credit score!  

Realtors

A great step in buying your first home is enlisting the help of a reliable real estate agent.  REALTORS® have extensive knowledge and expertise in the housing market and will find you the best homes in the area.  They can also assist you in negotiating price, closing costs and answering all of your questions.  Your dream is possible, with help from a dedicated team!

At Three Rivers Association of REALTORS®, we aim to address real estate issues in the community and work to provide a good housing market for Will and Grundy County.  We offer realtors in the area a wide, but industry-specific range of services.  To learn more about Three Rivers Association of REALTORS®, or to find a REALTOR, visit www.trarealtors.net.

Three Rivers Association of Realtors Can Help!

Located in Joliet, Illinois, Three Rivers Association of Realtors is a non-profit organization that serves more than 950 realtor and affiliate members. Our association represents the realtors in Will and Grundy County and helps resolve a range of industry related disputes.

Working closely with municipal leaders and congress members, it is our mission to help provide a good housing market for the community. Three Rivers helps realtors in the area with a wide, but industry-specific range of services. Our multiple listing service, education programs and extensive political action programs are just a few of the services we provide. Take a look at what our non-profit can offer:

• Speak to and address real estate issues
• Enhance the public image of our members
• Consumer outreach
• Provides opportunity for professional growth and education
• Communicates information to our members to help them succeed in their business activities
• Identifies, anticipates, and addresses economic and marketing trends in the real estate industry
• Works with congress on issues like mortgage interest deduction, flood insurance and all -effect home ownership
• Public relations and government affairs

Three Rivers works with the Illinois Association of Realtors and the National Association of Realtors in an effort to provide members with the tools necessary to remain successful. We aim to enhance the ability and opportunity for realtors to conduct their business successfully, ethically, and to promote the preservation of the right to won, transfer and use real property.

Changes in the real estate industry are ever evolving; let Three Rivers help you navigate your real estate issues and the housing market today! To learn more about Three Rivers Association of Realtors, give us a call at 815-744-4520 or visit www.trarealtors.net.