Buying a home will likely be the biggest financial transaction of your life!

There are so many things to think about, so here are a few quick

Tips for Home Buyers...


  • Understand your finances

    • Get a credit report
    • Consider stopping all new credit activity
    • Create a budget that allows you to determine how much you can afford to spend on a home


  • Start saving your down payment!

In the months leading up to your home search, consider setting up a savings account that automatically puts aside money from your paychecks at rate that would allow you to save 10-20% of what you have calculated will be the highest purchase price you can afford. 


  • Don’t forget about closing costs...

which could be 2–5% of your loan.


  • Don’t forget about other costs...

like connecting utilities, furnishings, installing appliances, minor repairs, cosmetic repairs.


  • Research any state and local assistance programs that could provide you tax breaks.

Here are two suggestions:

Covington Homebuyer Assistance Loans

Kentucky Housing Corporation Down Payment Closing Cost Assistance


  • Carefully consider the property you want to buy:

    • What are your must-haves
      • There will be compromises made along the way, so be reasonable about what you absolutely cannot live without.
    • Think carefully about features you can upgrade or install later if those features are outdated or missing at the time of purchase.
    • Keep the future in mind
      • Are you interested in starting a family in the next few years?
      • Will you be caring for an elderly family member in the next few years?
      • Do you want a home that will be manageable as you age?
    • Location, location, location! Think about…
      • your commute to work
      • proximity to friends and family
      • access to the activities you enjoy
      • surrounding construction and development or areas of possible development


  • Compare mortgage rates from at least 3 lenders.

Don’t just compare rates… compare their fees.


  • Get pre-approved!

After a lender has thoroughly reviewed your finances, they will let you know exactly what you should be able to afford, allowing you to retool your budget and search.


  • Hire the right real estate agent!

This person will assist you with one of the most significant decisions of your life. Are they working for you, or for the commission? You need to both trust and like your real estate agent, so take the time to find the right person.


  • When you find the right home, make a strong offer:

    • Starting too low can be insulting and it can ruin the process for everyone.
    • Starting too high because you’ve found a house you don’t want to risk losing can compromise your ability to negotiate and keep your final costs within your budget.
    • Do not get into a bidding war that puts you above your budget. Be willing to walk away when you hit your limit.
    • Be prepared to negotiate to ensure you aren’t taking on the cost of any major repairs, which means…


  • Get a home inspection!


  • Compare homeowners’ insurance.

Just like comparing mortgage rates, consider both the rates and the fees.


  • Hire a real estate attorney to represent you at closing!

Read more about how the Attorneys at Z&S can help with all your closing needs... CLICK HERE


  • Consider having that attorney represent you through the entire process,

beginning with your choice of real estate agent.


Follow these tips to protect the biggest financial transaction

and most meaningful purchase of your life from the very beginning.



The goal of the firm has always been to protect the interests of our clients and to craft innovative solutions to meet their evolving needs.

We achieve this by:

maintaining a well-tenured and experienced group of attorneys;
measuring the value of our relationships over decades, not hours;
and ensuring the attorney you select is the attorney that will be with you
every step of the way, today, tomorrow, and for many years to come.


Contact Us To See How The Attorneys At Z&S Can Assist You With All Of Your Legal Needs

541 Buttermilk Pike, Suite 500
P.O. Box 175710
Covington, KY 41017-5710

Tel: 859-426-1300
Fax: 859-426-0222

Office Hours:
8:30 am–5:00 pm

If you have questions, need to advice of a trusted counselor, or simply do not know where to turn, our team is here to help. Contact us today to schedule a free consultation.

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