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Purchasing and owning your very first home

April 23, 2021

Purchasing and owning your very first home

After years of renting or living somewhere you don’t own, you’ll start to see the appeal of purchasing your very own place—security, stability and the pride in owning something that’s completely yours. But if you’ve never purchased a home, or been around when family or friends have gone through the process, it can feel pretty intimidating. Blue Fern Homes has some questions to ask yourself when it comes to buying your first home in the greater Seattle area. 

How should I prepare for purchasing my first home? 

Whether you’re moving out of a free living situation or are transitioning front renting to owning, it’s important to take a few steps to prepare for purchasing your first home. 

First, decide how much home you can afford. Whether you use a convenient online calculator for a ballpark estimate or meet with a mortgage lending professional for a more detailed answer, it’s imperative to have an accurate number in mind. Your income, debt, down payment amount, credit score and a few other factors will help determine your budget. 

Other ways to prepare for the home search is by working to strengthen your credit score, determining the preferred area you’d like to live and building up savings for the down payment, closing costs and moving expenses. 

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When and how should I secure financing?  

First-time home buyers have unique opportunities when it comes to mortgages, each with varying down payment and eligibility requirements. A mortgage lending professional can help determine what’s the best option for your situation and needs. Blue Fern Homes has two preferred lenders that can guide you to the right mortgage and help secure financing on your first home.  

Once you’re officially ready to start home shopping, apply for a preapproval letter—a mortgage preapproval is a lender’s offer to loan you a certain amount of money under specific terms. This letter shows builders and sellers that you’re serious about the process and can give you a leg up in a competitive market. To get a preapproval letter, your lender will verify your credit, income, assets and debt. 

Will the purchasing process be easy? 

Whether you have people in your life to help you through the process or are doing it all on your own, buying a home can be overwhelming, intimidating and stressful—especially in a competitive market. The answer to this question depends on a number of factors, one of them being buying new-construction versus buying resale

When you work directly with the builder of a new-construction home, they’ll offer the transparency and clarity in the process—from construction to closing—that is difficult to get from the resale market. When you buy resale, you’ll find yourself in hyper-competitive situations, where the home you thought you could afford ends up going for thousands of dollars over asking or with unexpected terms. Additionally, resale homes often come with costly renovations or upgrades that you might not have budgeted for. 

New-construction homes, specifically the new-construction townhomes from Blue Fern, are built to the highest standard of quality, comfort and timeless trends by a team of industry and regional experts. We can help guide you through the purchasing process—ensuring a seamless transition into your new home and a new phase of your life. 

Once I own the home, who do I go to for maintenance? 

Now that you’ve made it through the process of purchasing your home, it’s time to experience the highs (and maybe a few lows) or homeownership. Fortunately for those who buy a Blue Fern townhome, each community we build comes back with what we call a 2-10 warranty. This program includes: 

  • 1 Year Workmanship Warranty: Provides coverage of defined construction standards for defects in materials and workmanship in the first years (roof covering, cabinets, countertops, door panels, exterior siding, hardwood floor, ceramic tile, drywall, interior trim, carpet, paint, fireplace). 
  • 2 Year Systems Warranty: Provides coverage of defined construction standards for defects in the distribution of electrical, plumbing and mechanical systems for a full two years after closing (supply piping, waste piping, ductwork, electrical wiring). 
  • 10 Year Structural Warranty: Provides coverage for designated load-bearing elements of the home caused by failure that affects their load-bearing function (roof framing, load-bearing walls, beams, column, foundation, floor framing). 

This warranty plan will help keep your home beautiful, healthy and safe for years to come. As for smaller problems you might experience, like burnt-out lightbulbs, clogged gutters and icy sidewalks, they’re no longer a landlord’s responsibility—they’re yours! Part of the beauty of homeownership is the ability to take on the projects that help make your house a comfortable home, and that includes some seasonal or monthly maintenance

How can I buy my own Blue Fern townhome? 

If you’re ready for the joys and responsibilities of becoming a first-time homeowner, Blue Fern Homes is ready to help you in the process. Check out our inventory of available townhomes in Shoreline at Meridian West and browse our upcoming projects—Meridian East in Shoreline and Kenwood Townhomes in Seattle. Contact us today via online form or call (206) 319-9681 to learn more or schedule a tour of your very first home. 



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