THE CHAMBERS REALTY GROUP

The team of The Chambers Realty Group proudly serves the Metro-Atlanta area. From the first-time home buyer to the savvy home buyer who is looking to upgrade to a luxury property, we have the skill sets to find you the home of your dreams. Also, for the investor or seller, our team is able to structure a plan that focuses on earning you the most profit within the least amount of time. We would love to meet with you to discuss how our team can help you achieve your real estate goals. 

CONTACT US

OFFICE     (404) 876-4901

CELL          (678) 579-4020

EMAIL        tchambers.crg@gmail.com

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© 2018. Chambers Realty Group. All Rights Reserved.

2911 Piedmont Road NE

Atlanta, GA 30305

TIPS FOR FIRST-TIME HOME BUYERS

Are you ready to buy your first home? Buying your first home can be an exciting adventure; however, you will want to make sure you’re financially qualified for the responsibilities that come along with home ownership. With the right preparations, buying a home can be a fun, exciting, and seamless experience.

Buying a home is not as simple as renting. As a homeowner you have more rights and privileges, but you also have more responsibilities including your mortgage, taxes, and maintenance. Before buying a home, you should be sure that you have control of your finances and have realistic expectations.

HOW MUCH CAN YOU AFFORD?

Before you start your home search, you will need to find out exactly how much you can afford. Try not to stretch your income too far as it can become a financial burden. Consider purchasing a more modest home initially and buy your “dream home” down the road.

WHAT IS YOUR DEBT-TO-INCOME RATIO?

When you search for a mortgage lender, you will need a detailed list of all your debts, including car payments, student loans, etc. The maximum debt to income ratio is different for every lender. It’s recommended that your overall debt not exceed 40% of your income, and housing debt should not exceed 32%. Fannie Mae and Freddie Mac max ratios are typically 28%/36%. However, factors such as additional large-value assets and credit history can impact those limits.

WHAT DO YOU WANT?

Consider as many details as you can before you purchase a home. Are you looking for a maintenance-free condo or a spacious single-family home? Do you plan to landscape your own yard? Or would you rather pay a simple fee every month to have the upkeep done for you? Do you mind having the outside color of your home approved by an HOA before painting, or would you rather be able to do what you want to your home without required consent? Do you value more living space in rural areas vs. convenient, but less space, in downtown areas? Knowing the answers to these questions will help you determine what type of property will meet your needs best.

*The information contained on this page is not intended to serve the purpose of or substitute for financial or loan counseling. For all such needs, you should consult a lender of your choice to advise you of requirements, financial information, options, and legalities. The Chambers Realty Group will not be held liable for any information provided, and all information should be verified independently.