Inland Empire, Calif. – April 2017 – If you’re at a point in your life where you’re tired of paying rent every month to your landlord, then it may be time for you to make the jump to purchasing your own home. The benefits of homeownership are far and plenty, but the process can seem complicated to a first-time buyer. Lucky for you, Lennar is an expert in assisting new home buyers every step of the way.
Firstly, you will have to decide whether a new home or resale home is right for you. The benefits for buying new may help save you money over time. A new home comes with warranties and new product throughout, reducing the need and worry over maintenance costs down the line. Plus, when you purchase with Lennar, you reap the benefits of the Everything’s Included® program, which puts today’s popular upgrades and features, such as stainless steel appliances including refrigerators, programmable thermostats, tankless water heaters and more into every home they build as standard. This means at no additional cost to you! By the time you move-in, all you need to do is unpack and start living.
After you’ve decided what direction to go in, it’s time to take a look at finances to figure out how much home you can afford. Lennar is an expert in assisting with this process, and helps families find the home that works for them every day. You’ll need to take a look at your income, figure out how much of your expenses are fixed, determine your debt-to-income ratio and then take a look at your credit score. It may be necessary to do some work on your credit score to get it ready, so the earlier you can focus on it, the better. You’ll also need to start saving for a down payment.
Once you get a good understanding of your income, it’s time to talk to a lender. There are several types of loans available when purchasing a home, but what’s most important is finding the one that works best for you and for your financial and personal/family situation. You’ll end up looking at either a fixed-rate mortgage or an adjustable-rate mortgage, and choose the one that provides a monthly payment you can work with. Lennar has a preferred lender they work with that a New Home Consultant can connect you with at any time. They are experts at what they do, and help people secure loans to purchase a home every day.
Once you’ve figured out how much home you can afford, the fun begins: your new home search. There are many things to consider when deciding on your home, such as location — what are the schools like, is it a reasonable commute to your employer and what kind of amenities are in the community or within close reach. After location, you’ll want to find a floorplan that works best for you. New Lennar homes, being designed for the way people live today, offer open floorplans, multiple bedrooms and bathrooms, kitchens with pantries and modern cabinetry, plus, they come outfitted with energy-efficient features and advanced technology.
When it comes to the time to make the purchase, it can be an exciting yet confusing time. You’ll want to start by obtaining an estimate of the closing costs through your lender. These cover the amount of money you pay to close a mortgage loan, aside from the down payment and can usually be considered either as lender fees, title fees or escrows/impounds. When getting your finances together, it’s suggested to put 20 percent down, or to get a first and second loan to avoid the extra insurance fees.
Once you’ve found the home and secured the loan, it’s time to sign all the documents. After everything is straightened out, signed, sealed and delivered, you become an official homeowner.
It all starts with a little inspiration! Begin your new home search today at www.lennar.com.
With hundreds of communities nationwide and homes designed for first-time, move-up and luxury homebuyers, Lennar has grown to become one of the nation’s leading and most respected homebuilders. Lennar has a longstanding history of building homes of enduring quality in only the most well planned and desirable locations throughout the country.