Buying your first home in Greenwood

Buying your first home in Greenwood

 

Buying your first home in Greenwood is an exciting step, and saving up for it does not need to be overwhelming.  Start by setting a clear savings goal.  Research the homes in Greenwood to get a sense of prices and to calculate how much you will need for a down payment, closing costs and for extra for repairs & furnishings.  Aiming for a 20% down payment will help you avoid private mortgage insurance, but there are options for smaller down payments if that is what you prefer. To get a clearer goal in mind, talk with a trusted lender to see what Grant Money you might qualify for and what down payment will best fit your specific goals.  If you do not have a trusted lender, ask your trusted Realtor for recommendations based on what you think you needs are.

Your next step is to take a strong look at your budget and see where you can make adjustments.  Little changes, such as skipping your coffee from out, subscription services being analyzed to see where you can cut back, eating out less, all can free up money that will add up over time.  Divert that money to a savings account or even setting up an automatic savings plan can help you get to your end goal faster.  

Reducing debt is another way to help get you to your goal even faster.  Consider boosting your income with side income or part time work will also make a difference.  Sell unused items around your house and put the money into savings.

Looking into loan programs that have assistance can make that first home more affordable.

Staying motivated and disciplined and keeping your eye on the prize will make your goal much more attainable; and before you know it you will be in your first home in Greenwood before you know it!

 

 

Need Greenwood Property Management?  Give Jim Johnson a call at 317-885-8858 or email office@harbertcompany.com