Your Hometown Real Estate Experts

Hammock Realty of North Georgia is your local choice for your real estate needs. Whether you are selling, buying, or seeking a fast cash offer on your home or property, our friendly team is here to help. With local experience & expertise, you’ll discover a partner in your real estate plans in our team at Hammock. 

First Time Home Buyers

First Time Home Buyers 

Homeownership is a life-long dream for many. As a first-time homebuyer, it’s easy to be overwhelmed by the details. However, having an expert who guides you every step of the way can alleviate the stress so you can focus on your new home. 

Why Purchase a Home?

There’s a certain feeling that comes with something being yours…pride, excitement, the joy of seeing your dream come to fruition. That feeling of accomplishment is hugely satisfying, but there are also many tangible benefits to homeownership. 

  • Home Appreciation.
    Over time, home values steadily improve so you should be able to make money on your home (just ask your grandparents!). 
  • Tax Benefits.
    You can get a tax break in the form of yearly deductions. 
  • Credit Score.
    If you make your payments on time, it will help build your credit score. 

Many advantages of homeownership are available to anyone, whether they’re buying their first home or their fifteenth…but with your first home purchase, you can also take advantage of state and federal programs designed to help you get the keys to your own house!

Programs For First Time Home Buyers 

In Georgia, you can qualify as a first-time home buyer if you haven’t owned a home in more than three years. There are many types of mortgages available in addition to a traditional mortgage, which is designed to help individuals who may not otherwise qualify. 

Depending on your circumstances, you may qualify for a mortgage through the VA, USDA Rural Development, or the Federal Housing Administration (FHA). In addition, the Georgia Dream Home Ownership Program, Georgia Standard Down Payment Assistance, Georgia PEN, and Georgia Choice are all programs that can help with your down payment. Be sure to check out Nerd Wallet to see the right fit for you.

Preparing For Your First Home 

Buying your first home isn’t something you do on a whim – it’s an endeavor that will be far more successful with a solid plan and preparation. Here are some helpful steps to take:

  1. Save, save, save. You’ll certainly want to start saving your down payment as early as possible – since a 20% down payment is ideal, you will want to set aside a $50,000 down payment for a $250,000 home. 
  2. Determine the first-time home buying program that works for you. Remember to investigate the programs for first-time homebuyers listed above for help with your down payment! 
  3. Don’t forget about closing fees and moving expenses. These are additional costs where you will need additional funds. 
  4. Know exactly what you can afford. If you don’t have a budget yet, create a thorough list of your monthly income and expenses, and see what you have left for a mortgage. Use our mortgage calculator to see how various home prices fit into your monthly budget!

Ready To Find Your Home? 

 At Hammock Realty, we understand the excitement of buying your first home! You want to find the right home, at the right price, in the right location. We know our neighborhoods, and we’ll use our local knowledge to help you sift through your options. 

Our expert realtors will help you prioritize your needs and wants, and scour the market to help you find the home of your dreams at a price you can afford. Call us today for a free, no-obligation consultation. Let’s find your first home!