Goals: A GUIDE TO FIRST TIME HOME OWNERSHIP

by Patrice Rolle

Overview

There are several important steps to take in order to prepare for homeownership. The first step is to assess your current financial situation. Take a look at your income, expenses, debts, and savings to determine how much you can realistically afford to spend on a home. It is important to factor in not just the mortgage payment, but also property taxes, insurance, utilities, maintenance costs, and any other potential expenses.

Next, you will want to check your credit score and work on improving it if necessary. A higher credit score can help you secure a better interest rate on your mortgage, saving you money in the long run. You can improve your credit score by paying your bills on time, keeping your credit card balances low, and avoiding opening new lines of credit.

Once you have a good understanding of your financial situation, you can start saving for a down payment. Most lenders require a down payment of at least 3-5% of the home's purchase price, but a larger down payment can help you secure a lower interest rate and reduce your monthly payments. Set a savings goal and create a budget to help you reach it.

Finally, you will want to start researching the housing market in your desired location. Look at the average home prices, the types of homes available, and the neighborhoods that appeal to you. Consider working with a real estate agent to help you navigate the home buying process and find the right home for you.

By taking these steps to prepare for homeownership, you can set yourself up for success and begin building wealth through owning a home. Good luck on your journey to homeownership!

Product Details

ISBN-13:	9798881172671
Publisher:	Barnes & Noble Press
Publication date:	05/28/2024
Pages:	52
Product dimensions:	6.00(w) x 9.00(h) x 0.11(d)

About the Author

Knowledge can save us a lot of stress, time, and money. I have learned that it is the things that we do not know that are the most expensive. My name is Patrice Rolle and I have been a licensed Realtor since 2012, a licensed real estate broker & CEO since 2015, a property manager since 2016, and a digital multimedia high school teacher since 2023. I was born in Nassau Bahamas, and lived in central and south Florida for the past 4 decades.

My decision to become a realtor was less about the commission and more about the flexibility. I had no idea about the commission potential until after my first sale. But even then it was not my primary motivator. Along the way, I realized that I had the power to transform the lives of every person I met who was seeking the American dream. Most importantly I had the power to affect growth in communities positively.

After years of serving those searching for a tangible piece of America, it was clear to me that there was so much that those outside the real estate industry were unaware of and did not understand. I became passionate about paying my knowledge forward. I want everyone to know what I know, or at least know where to find the answers that are so important when transacting a real estate deal. Especially, first-time home buyers and homeowners who have never sold real estate. I have heard horror stories from many past clients about money they could have saved had they only known or had they hired a specialist. They are now one of the reasons why I write.

Originally, writing books was something I just thought of as a hobby. Sitting on my patio or the beach with a cup of coffee and just put my imagination to work on paper. For fun, I love to laugh, eat great food, travel, read and meet people. I especially enjoy learning about different cultures through my travels, from my students and my clients. I have met so many great people on my journey and I still have the privilege of enjoying the relationships built.