9 Steps Along the Path to Home Ownership in South Carolina

If I could go back and tell myself something as a young adult, it would be, “See if you can buy a home.” Instead, I spent the first decade of my adult life paying someone else rent and now that feels like money in the wind. While I might not have been able to afford something, I wish I had explored the possibilities.

With that permanent place to call your own, owning a home gives you a sense of stability and security. The long-term investment helps you build equity as your home grows in value over time, and there are tax benefits. By eliminating monthly rent payments to an investor or a rental company, a mortgage means you are investing in yourself and your family.

However, what are those elusive steps to getting there? Fortunately, the internet is full of advice (it always is, isn’t it?). Our friends at the U.S. Department of Housing and Urban Development, HUD, have gathered some great resources to guide you and outlined them in the following steps:

1. Figure how much you can afford, which is dependent on your income, credit rating, expenses, down payment and interest rates.
2. Know your rights as a borrower.
3. Shop for a loan.
4. Learn about home-buying programs, including those in South Carolina.
5. Shop for a home with checklists and wishlists.
6. Make an offer.
7. Get a home inspection.
8. Shop for homeowners insurance.
9. Sign the papers!

As one of the most significant purchases a person will make, researching will help you make a good decision and get comfortable with the process. There is a reason that shopping for the home is 5th on their list.

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