We are excited to announce that a long time Master Craftsman of our business is now the proud new owner; please join us in congratulating Earl Swader as the new owner of Handyman Connection of Blue Ash. Earl has previous business ownership already under his belt and is looking forward to continuing to serve the Blue Ash community as the proud owner.
Repairs / January 10, 2025
Buying your first home is exciting—no doubt about it. But let’s be honest, it can also feel a little overwhelming, especially when it comes to finances. How much do you need to save? What’s the deal with credit scores? And what unexpected costs might pop up when you least expect them? Don’t worry—we’ve got you covered.
This checklist breaks down everything you need to know before you even think about applying for a mortgage. Ready? Let’s dive in.
Before you start scrolling through home listings or imagining paint colors for the living room, take a good, hard look at your financial situation. Ask yourself: How much do I actually have saved? What’s my monthly income versus expenses? And can I handle the additional costs that come with owning a home?
Spoiler alert—buying a home isn’t just about the down payment. Sure, that’s a big piece, but you’ll also need cash for closing costs, moving expenses, and maybe even a new couch (because let’s face it, that hand-me-down sectional might not make the cut). Experts usually recommend saving at least 20% of the home’s price for a down payment, but there are plenty of options if you can’t hit that number.
Think about more than just the mortgage payment. Owning a home means paying for property taxes, insurance, maintenance, and utilities—and those costs can add up fast. Mapping out a realistic budget now can help you avoid nasty surprises later.
Your credit score isn’t just a number—it’s one of the first things lenders check to decide whether to approve your mortgage. So, what’s the magic number? Generally, a score of 620 or higher gets your foot in the door, but the better your score, the better your loan terms.
Pull your credit report and scan it for any errors. Dispute mistakes as soon as possible because even a small error could ding your score. And while you’re at it, start paying down any outstanding debts to boost your numbers.
Speaking of credit checks, have you ever stopped to think—do banks check your credit to open an account? It’s not always a straightforward answer. Some banks might run a soft inquiry to confirm your identity and assess risk, while others skip the credit check altogether. Either way, keeping your finances in good shape shows both lenders and banks that you’re responsible with money.
Now that your finances and credit are in check, it’s time to explore your mortgage options. Not all loans are created equal, and the one you choose can make a big difference in your monthly payments.
Conventional loans? FHA loans? VA loans? It might sound like alphabet soup, but each loan type has its pros and cons. FHA loans, for example, are great for buyers with lower credit scores, while VA loans are ideal if you’ve served in the military. Do your research and talk to a mortgage expert to figure out what works best for you.
A pre-approval isn’t just a fancy piece of paper—it’s your golden ticket in the homebuying process. It shows sellers you’re serious and helps you understand exactly how much house you can afford. Plus, it speeds up the closing process once you find your dream home.
Owning a home is more than just paying a mortgage. Ever heard the phrase, “It’s always something”? Well, that applies here, too. From property taxes and homeowners insurance to maintenance costs and HOA fees, there’s a lot to factor in.
Property taxes and insurance can vary widely depending on where you live, so make sure you research those costs ahead of time. And don’t forget about repairs—because something will eventually break. Budgeting for ongoing maintenance can save you a lot of stress later.
Utilities can also be a budget buster if you’re not prepared. Heating, cooling, water, and electricity costs can fluctuate, especially if your new home is bigger than your current place. Take time to estimate these expenses before you buy.
Good news—there are tons of programs designed to help first-time buyers like you. Many offer down payment assistance, lower interest rates, or tax credits that can make owning a home more affordable.
Some state and local programs offer grants or low-interest loans to help cover your down payment. It’s worth checking out what’s available in your area—you might be surprised at the options.
Depending on where you live, you could qualify for tax credits or deductions for things like mortgage interest. Talk to a tax professional to find out what benefits you might qualify for.
No one buys a home alone (well, technically you can, but it’s not recommended). You’ll need a team of pros to guide you through the process.
A good agent can make all the difference. Look for someone who understands your needs, knows the area, and has experience working with first-time buyers.
Your broker or lender is key to getting the best loan terms. Don’t be afraid to shop around and ask questions—it’s their job to help you.
Think of a home inspection as your safety net. It can catch potential issues before they turn into costly problems, giving you peace of mind before you sign on the dotted line.
Buying your first home is a big deal, but with the right preparation, it doesn’t have to be overwhelming. Start by taking control of your finances, boosting your credit, and exploring mortgage options. Build your team, ask lots of questions, and don’t be afraid to lean on experts for guidance.
You’ve got this—happy house hunting!
11115 Kenwood Rd.
Blue Ash, OH 45242
© Handyman Connection 2025 | Privacy Policy
(513) 771-3950 
