How to Buy a New Affordable Home
Yes, David Weekley Homes has a variety of homes across the country that are listed under $300,000.
You don’t have to settle when you select a David Weekley home. Our homes are designed to accommodate a broad range of budgets in a variety of locations. We’re dedicated to helping you become a Homeowner for a price that makes sense for all involved.
Buying a home can be confusing and even intimidating. How much can you afford? How big of a house do you need? There are several questions that prospective buyers must address when considering buying a home. Here are a few tips on how to prepare for one of life’s biggest purchases:
- Improve your credit score. Before you start shopping for specific houses, it’s important to have your credit score in a good spot. Your credit score has a significant effect on the amount of your down payment and the type of mortgage that’s available to you. If you make timely payments on bills, keep credit card balances low and only apply for credit as needed, you can set yourself up to receive the most favorable terms on a new home.
- Do your research. Buying a home is a big decision, so doing your due dilligence on a number of matters can pay off big in the long run.
First, evaluate your mortgage options. From the amount of years to adjustable rates or fixed rates, you can find the mortgage that best fits your financial situation and future plans.
Second, find out how much home you can afford. There are plenty of online calculators and resources to help you figure out your number. It’s important to note that just because you can afford a certain home doesn’t mean you should rule out cheaper options.
Third, go to as many open houses as possible. This will help you figure out what communities you like and what home features are most important to you. You might be surprised by what you can find within your budget.
- Stick to your budget. It can be tempting to stretch for a home just outside your established budget, but now is not the time to start. Shopping for homes within your budget also gives you more flexibility when bidding or negotiating.
- Save for a down payment. Start saving for a down payment as early as possible. While lenders are becoming less stringent on down payments, a 10 percent down payment on a $300,000 home would be $30,000. For some buyers, that isn’t an issue, but for others, they may need to start making a plan to save now.
Take a look at David Weekley homes under $300k and at other price points in any of our markets: