First Time Buyer

You have a desire to own a home and make a smart financial investment when purchasing your first house. Here you’ll find home searching tips, relevant housing market statistics, financial and investment information, articles about first time buyer grants, along with plenty of other valuable resources.

Found 10 blog entries about First Time Buyer.

2016 was an active year for the real estate industry. Last year also saw home prices rise steadily for ten months in a row, peaking in October with gains of 5.61% coming just before the traditionally slow winter holiday season. 2017 will see the market normalize, slowing growth but continuing its rise, albeit not as dramatically as last year. Baby Boomers and Millennials will continue to be a force in the market. And home buyers will want to pay close attention to an unpredictable new administration in the White House, which could pass legislation that would directly affect the housing market

There will be an increase in home sales as even more Baby Boomers are now willing to sell again

Most Baby Boomers are now at retirement age and are looking to

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How to Save For a Mortgage Down Payment

The allure of owning your home is enticing. The privacy to do as you please and the freedom to create the environment of your dreams take over our thoughts as we fork over the latest rent payment. If you think owning a home is impossible, think again. If you have decent credit and a stable job, it comes down to one thing – the down payment. The thing to remember about a home is that much of the cost of owning one lies outside of merely mortgage payments. Utilities could be more expensive than when you rented and suddenly repairs become your sole financial responsibility, so it is important to make sure you give enough of a down payment to ensure your monthly mortgage payments don’t make day-to-day living difficult.

Here are a few tips for

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What to Look for in Your First Home

Most first time home buyers are well aware that the process of searching for and buying a home can be an overwhelming experience, and all the decision making involved may be stressful. There is so much involved in the process, from researching mortgage companies and interest rates to thinking about the home’s location and square footage. And with family, friends and coworkers all doling out their advice, it can be a challenge to know whose advice to trust.

You can help ensure that you’re making choices that will best benefit you by keeping in mind some of the factors that most real estate experts view as top priority. These include:


You’ve probably heard the phrase, “Location, location, location” countless times already on your

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The Fed Raised Interest Rates in December: What Does that Mean for Me in the Year Ahead?

In December 2015, the Federal Open Market Committee (FOMC) decided to raise interest rates for the first time in seven years. This freeze in interest rates was seen as necessary in response to the worst recession since The Great Depression. But now the economy is trending upward, and the Fed is seeking a return to normalcy. The increase they have proposed is .25% – for the first of the increases. That’s right, only the first. Some economists are predicting the Fed will approve up to four increases in 2016 alone. While .25% may not seem like much, over the course of a 30-year mortgage, it adds up to a significant chunk of change.

For example, a 30-year $200,000 mortgage at 4.5% interest will bring with it monthly payments of $1,013. Increase

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Is It Cheaper to Buy a House In the New Year?

Once the glitzy New Year’s parties are over and 2016 has officially begun, it’s time to put those resolutions for a fresh start into effect. If this is the year you’ve determined to be the one where you finally buy that new home, don’t hesitate because the beginning of the year is an excellent time to buy.

Homes are cheaper in the winter months.

Less people are buying and selling homes during the colder months, so homes on the market in the winter tend to be priced lower. And with less competition for homes, buyers are in a more favorable position for negotiations. Those homes that remain on the market in the winter commonly belong to sellers who are looking for a quick sale. Less homes on the market, means less options, but buyers who

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When Looking for a House to Purchase, Look for These Clear Signs of Value

For most first-time home buyers, signs of a home’s value aren’t immediately apparent upon initial glance. However, if you know what to look for, you can start determining its value before you even pull up to the curb.

The neighborhood.

Doing your research on the neighborhood will tell you a lot about a home’s value before you even step inside. A home purchased in a sought-after neighborhood will hold its value longer than one in a neighborhood deemed less desirable.

These are some signs that will indicate the neighborhood will inject value onto the home:

  • An active neighborhood – look for signs of children playing, people exercising, people walking dogs, parks, community centers, and churches. Active communities tend to be safe
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8 Ways to Help Save for a New House

Save some money for a new house—sounds easy enough, right? Well, it turns out that saving enough money to purchase a house takes some tough decisions and temporary life changes. But if you can get through it, you will be rewarded on the other side with the home of your dreams.

But how do you even go about saving for something as important as your new home? Here are 8 ways by the experts at the Northrop Team to get you started.

1.) Create a budget

Any serious plan to save money starts with creating a budget--and you can’t create a budget without first understanding how much money you currently bring in and how much you give out. The first thing you’ll want to do is take inventory of your bank transactions over a month’s time. Separate

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Owning a Home Can Help You Retire Comfortably – and Maybe Even Early

Retirement seems so far away when we are young. It’s easy to completely forget about it when life is moving fast and our only worries seem to be what is right in front of us. But eventually that day will come, and those who prepare early will still be living the good life when night clubs become golf clubs. One way to get an early jump on comfortable living after retirement is by owning your own home – and buying it early.

It Can Build Equity

When you make monthly payments on your new home, some of that money goes towards paying down the debt owed. With each payment, the equity rises because the amount owed against the amount the home was worth has decreased – essentially, you’re making money. With the housing market currently on the rise,

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5 Steps to Buying Your First Home

Buying your first home is one of the largest and most exciting decisions of your life. It’s the beginning of your life’s next chapter. A home is more than just the place you live--it’s a reflection of you. When you choose your first home, you’ll ultimately decide on one that satisfies your needs while also reflecting your personal style.  

Whether see yourself in a lived-in, older style with built-ins that carry their own unique charm, or a newer construction with a minimalist design that can serve as a blank canvas for your inner interior decorator, there are a few--but very important items--to  consider before you can move in.

1. Get Home Loan Pre-approval

Unless you are fortunate enough to have an enormous amount of cash lying

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Splendid Spaces: Bringing the colors of the fall indoors

Taking a hayride, visiting a pumpkin patch, playing a game of pickup football, and having a Thanksgiving feast. If you're like me, then you're probably able to picture these activities in your head pretty easily. What do you see? Do you see the light yellow hay? How about the orange pumpkins or the bright red cranberry sauce or maybe the orange sweet potatoes?

Sure, you can visualize these colors all year long, but unfortunately you can only see most of them briefly in nature. If you love the colors of the fall, then maybe you should consider using a fall-inspired color palette on the walls of your home.

How a person feels in an interior space can be greatly influenced by the room’s color. Fall colors (orange, red, yellow, etc.) typically work

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