Financial Home Buying Tips

May 29, 2020

Buying a home is one of, if not the, biggest and most important financial decisions of a person’s life. You want to make sure you are buying the right home for your wants and needs that has also been well taken care of. Having a reliable realtor and financial institution behind you will really help make this process smooth and efficient. Here are a few great tips to consider when looking to buy your first home!

  • Before you begin the home buying process, especially if you are a first-time home buyer, make sure your debt is mostly paid off and you have built an emergency fund.
  • Save for a down payment and know how much you can afford when it comes to your home. It is important to get preapproved for a loan to know what you are working with!
  • Only look at homes in your price range and research which areas and neighborhoods fit your needs.
  • It is important to attend open houses to get a good idea of what you want and always think long term as this is a decision you will literally live in for many years to come.
  • Throughout the home buying process, it is imperative to ask questions, there is no such thing as a stupid question!
  • Choosing the right lender will save you thousands in extra interest and fees. Talk to your local credit union before internet lenders and mortgage brokers! This will ensure you are not hit with any financial surprises.
  • Never be afraid to walk away when something doesn’t feel right. The wrong people will take advantage of you if you are not careful. You want to make sure your rate is the same as the original quote as well as agreeing to reasonably prices closing costs.
  • After submitting an offer, get a home inspection and appraisal to ensure that your potential new home is everything you think it is. It can be easy to miss key features that will end up costing you a lot of money after your home purchase.


When bidding on a home, you want to make sure you are only bidding what you can afford and what you think the property is worth. Your opening bid should be a low, but a fair price that is not going to offend the seller. But at the same time, you want to make sure you are getting your money’s worth.

Pay attention to the value of the housing market and how much houses have sold for in that neighborhood. When submitting your final bid, be specific in the price so a seller will believe you have given the offer a very careful thought! We hope these tips help the process of buying a home go much smoother. Firefighters Credit Union offers many home buying loans to ensure you get the home you deserve!

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