Buying your first home in Nebraska

Buying your first home in Nebraska can be very exciting. Not to mention a sense of accomplishment for making such an important and huge step in your life. But, like with any other big steps, you should approach it carefully. Do a complete research upfront, make sure you are ready, and be absolutely sure it is the right property for you.

Things to consider when buying your first home in Nebraska

The first thing you have to do is to get your financial qualifications so you can be sure about what you can afford. The harsh reality is that sellers are more receptive toward pre-approved buyers. Having the figures sorted out on a paper is the best way to show you are a serious buyer. Also, you will know exactly at what price range you can aim for. Like in most areas, Nebraska offers several programs in order to attract and encourage people to invest there. Both federal and state programs are worth your consideration, especially if this is your first home.

A large house in the rural part of Nebraska.
There are many households you can take into consideration.

First Home Plus

This is the program tailored for first home buyers that offer no down payment assistance but has low-interest rates. It’s not available everywhere, but you can ask for it in the next couple of counties:

  • Adams
  • Scotts Bluff
  • Lancaster
  • Jefferson
  • Douglas

Homebuyer Assistance (HBA)

HBA is a program that requires you to be a first time home buyer, and where you can combine two loans. The benefits of the first mortgage with a second loan which is good enough to cover your down payment. For the first mortgage, the is a minimum investment payment of about $1,000. For the second one, you have a 10-year term loan without an origination fee.

Community Level Assistance

These are plans designed to promote local growth in Nebraska. Generally, they are a good way to attract first-time homeowners to local areas. Check within the area if there is a community level assistance program before you proceed further.

A peacefully looking street in a town in Nebraska.
Explore all options before making the final decision.

The steps when buying a first home

Know what you are looking for before moving within Nebraska state lines. Seriously, a lot of people make a mistake of going house hunting blindly. If you know exactly what your needs are, you will avoid further disappointment and buyer’s remorse. Features like school proximity, amenities, distance from work, and community options are just some of the important pieces of information.

  • Do thorough research. When you are house-hunting in a targeted area, it’s convenient to completely research the area. If there is a couple of estates you are planning to visit, always take pictures. That way you won’t forget important details when comparing properties.
  • Be ready to compromise. There is a small chance your first house is going to fulfill all your requirements. Because of that, you should be ready to make some compromise in order to get a long term high-quality investment.
  • Don’t hesitate to hire a professional representative. Having your own real estate agent is the only way to be sure he is doing in your best interest and not in sellers. Also, property inspectors and estimators are there to make sure you are paying the right price for the property.
  • Avoid rushing your decision. Carefully weigh all positive and negative factors when making a final decision. Also, make sure to check all the available options because you might overlook some interesting details.

Have a final walkthrough before buying your first home in Nebraska and signing all the papers. This is your final precaution in order to be sure nothing is changed since the last encounter.

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