Homebuyer Resources
Buying your first home is a major milestone. At Capella Cottages, we believe informed buyers make confident decisions. This page brings together practical guidance, trusted tools, and official resources to help you prepare for homeownership—step by step.
Buying Your First Home
A clear, practical guide to preparing for homeownership—created by the Capella Cottages development team.
Financial Readiness Tools
True Cost of Ownership
Why New Construction
Official Homebuyer Resources
Your Homebuying Team
Closing, Move-In & Beyond
Your Step-by-Step Path to Homeownership
You don’t need to have everything figured out to get started. This roadmap outlines the most common steps first-time buyers take, and helps you understand what comes next.
List of Services
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1. Decide if buying is right for youList Item 1
Homeownership is about more than a purchase price. Consider your lifestyle goals, timeline, and whether you’re ready for the responsibility and stability that come with owning a home.
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2. Build your homebuying budgetList Item 2
Understand what feels comfortable month-to-month. Your budget should include your mortgage payment, property taxes, homeowners insurance, utilities, and savings for future maintenance.
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3. Prepare your financesList Item 3
Review your credit profile, reduce high-interest debt when possible, and begin organizing documents such as pay stubs, tax returns, and bank statements.
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4. Get pre-approvedList Item 4
A mortgage pre-approval gives you a realistic price range and shows readiness when it’s time to move forward. This step is different from pre-qualification and carries more weight.
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5. Explore assistance programs Write a description for this list item and include information that will interest site visitors. For example, you may want to describe a team member's experience, what makes a product special, or a unique service that you offer.
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6. Contract to closing
Once under contract, your lender finalizes approval while inspections, appraisals, and closing preparations take place. Understanding this timeline helps avoid surprises.
Buying Basics & Education
Homebuying Basics Every First-Time Buyer Should Know
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First-Time Buyer Checklist
• Credit score in a lender-approved range
• Stable income and employment history
• Savings for down payment and closing costs
• Emergency fund for unexpected expenses
• Realistic monthly housing budget
• Pre-approval or readiness to apply
• Timeline aligned with your lifestyle goals
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Renting vs. Owning
Renting May Offer:
- Flexibility to move
- Fewer maintenance responsibilities
- Lower upfront costs
Owning May Offer:
- Stability and long-term housing security
- Monthly payments that build equity
- Freedom to personalize your space
- Protection from rising rents over time
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What Lenders Look For
Understand the key factors lenders review, including credit, income stability, and debt-to-income ratios.
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Common First-Time Buyer Mistakes
- Skipping pre-approval before shopping
- Underestimating total monthly costs
- Opening new credit accounts before closing
- Draining savings without leaving an emergency buffer
- Focusing only on purchase price, not long-term affordability
- Not asking questions or seeking guidance
Financial Readiness Tools
Monthly Payment Estimator
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Down Payment & Closing Cost Planner
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Document Checklist
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