News
/getmedia/cb1e403c-6246-440d-bfb5-ed7a9865ce87/news-mortgage-keys-lrg.webp?ext=.webp4.29.25
3 Things to Know When Buying a Home
Thinking about buying a home? Whether you’re a first-time buyer or ready to move into a new space that better suits your lifestyle, purchasing a home is one of the biggest financial decisions you'll ever make. The process can feel overwhelming—but with the right information and guidance, it doesn’t have to be.
Here are three important things to know as you begin your homebuying journey.
1. Understand the Market
Home prices tend to follow a steady upward trend year over year, with national forecasts often predicting a 2–3% annual increase. While market conditions vary by location, working with a trusted real estate agent can help you zero in on neighborhoods that align with both your needs and your budget.
Mortgage rates have been on a gradual downward path—and that trend is expected to continue. If you’ve been waiting for the right moment to buy, now could be the time to take advantage of more favorable financing options. Our expert mortgage consultants are here to guide you through the process and help you find the right loan for your situation.
2. Determine What You Really Need
- How many bedrooms and bathrooms do I really need?
- Do I prefer a quiet neighborhood or a vibrant community?
- What’s my ideal commute like?
- Are schools, shopping, or green space priorities for me?
Understanding what matters most can help you make confident, well-informed choices.
3. Minimize Your Upfront Costs
Buying a home involves more than just the down payment. You’ll also need to plan for:
- Closing costs
- Property taxes
- Homeowners insurance
- Inspections
- Moving expenses
- Realtor fees
The good news? There are ways to reduce these expenses. Government-backed loans such as FHA, VA, and USDA can offer lower down payments and reduced closing costs. Choosing a newer home may also lead to lower insurance premiums, while relocating to a different area—even within the same city—might decrease your property tax bill.
At Provident, our members have access to affordable home insurance options to help protect your investment while keeping long-term costs manageable.
Ready to Make Your Move?
Buying a home is a big step—but with the right preparation, it can also be one of the most rewarding. Take the time to understand the market, clarify your goals, and explore flexible financing options. Our team of mortgage consultants is ready to help you every step of the way.
Let’s make your dream home a reality—on terms that work for you.
Share this article
