Tag: moving and storage company

Moving to your first home is always interesting, but the path followed to get there is always full of hiccups and troubles. The process of transition is both stressful and full of challenges. You are required to set your priorities and decide on the kind of home that you plan to live in. Though the learning curve can be steep, but some of the issues can be dealt by putting in a little homework.

To make this process smooth and hassle free, make sure you get the most out of the purchase. Examine what all things need to be taken into consideration before buying, what results you can expect in the future, and how you can make life easier after you purchase your first home.

• ENSURE YOU’RE FINANCIALLY INDEPENDENT – Home ownership is a lot more expensive than renting. The financial independence score is among the most important factors when it comes to qualifying for a loan nowadays. When you own a house, you are liable for any repair costs. You may also have added utility costs, such as electricity and water bills. In addition to that, you will need to pay for taxes and insurance related to your home. These costs add up quickly, and if you are not financially prepared, you may end up in a very negative financial position. Get rid of the credit card debt first, save up an emergency fund, and always wait for the right time to buy your first home.
• HOME INSPECTION AND APPRAISAL – Home inspection is probably the most significant change that has occurred in the home buying process in recent years. Typically, the process involves a top-to-bottom inspection of the property, performed by an inspector who is chosen and paid by the buyers. If your loan is locked in and your prospective home passed its inspection with ease, then you have only one challenge left – the appraisal. A home appraisal is an estimate of a property’s value. Mortgage lenders require an appraisal on your home before they’ll provide a loan because the property is the underlying asset that serves as collateral for the loan.
• LOAN AND DOWN PAYMENTS – Being the first-time home buyer, you are always aware as to how much you can afford to spend before the bank approves the loan. You can get the best idea as to how much you can afford by calculating debt-to-income ratio and factoring in a down payment. Usually, a fixed rate fifteen or twenty-year loan is the best option as this can also help you lock in a low rate of interest. You might consider creative financing to cover the down payment, but always be careful when you make such choices. After all, you want to build wealth with your home purchase. If in case you made the wrong choice, then you may end up hurting yourself financially.
• MOVING AND STORAGE OF HOUSEHOLD ITEMS – When you have decided to move to your new home, your experience should be memorable that you can cherish for a lifetime. For that you need to hire a reliable and professional residential moving company. Often it happens that your new home may not take up all household items, so you may also need a temporary storage space. So, always hire one of the most trusted moving and storage companies as they will customize your personal moving plan to handle as much as you need and guide you through the entire moving process. Moving of America is recognized as one of the eminent moving and storage companies in New York and New Jersey. We are fully equipped to accommodate your local or long-distance moving needs. We also offer short and long-term storage options in our warehouses, which can safely and securely accommodate a variety of household items.

This brief overview about keeping in mind your saved credits, safe place to store goods provided by your moving and storage company, home inspection and appraisal along with loan and down payments help you fill in any gaps in your home-buying knowledge. Keep these factors in mind when purchasing and moving to a new home, and get ready to create lots of memories in your new abode!