If you’re looking to purchase a home in Florence, KY or surrounding areas, it’s important to consider the proper steps to set you up with success. At Empower Financial Group, we can help you get set up with a homeowner’s insurance policy as well.
5 Steps To Buying Your First House
1. Get Your Finances In Check
First, it’s crucial to get your finances in check. Understanding your current financial situation will provide you with a clear picture of what kind of home you can comfortably afford. Setting up a budget is an excellent way to track expenses against your income. It’s good practice to ensure that no more than 30% of your monthly income goes towards housing costs –
2. Start Saving
Once you’ve planned out a feasible budget, the next step would be to start saving for the down payment on the house. This requires diligence but is essential in securing your dream house.
3. Boost Your Credit Score
A higher credit score means better interest rates and terms when applying for a mortgage loan. Therefore it’s beneficial to aim for credit score growth as part of preparing for homeownership.
4. Find An Agent
Trying to navigate everything on your own when buying a home can be a tough way to go. Hiring an expert real estate agent can make life much easier.
5. Work With The Right Insurance Company
Working with an expert like Empower Financial Group can help give you one less thing to worry about when you’re trying to get homeownership tasks done within the first 90 days.
Consult With Us
For people living around the Florence, KY area, Empower Financial Group would like to get you set up with your first home insurance policy. Contact us if you have any questions or would like an estimate.