Five First Time Home Buyer Tips
5 Tips For a First Time Home Buyer
Are you going to be a first time home buyer? If so, there are several aspects that you should be aware of, prior to the purchase. Check out these 5 tips now.
Deciding to buy your first home is a big decision, and marks the start of a new chapter in your life. Did you know that nearly 50% of house seekers in 2018 were first-time buyers?
There are a lot of decisions to make when buying a house, but taking the time to plan can help make the process easier.
Here are five tips to help you if you're a first time home buyer.
1. Make Sure You're Financially Prepared to be a Home Buyer
One of the first things a new home buyer needs to think about is whether or not they're financially ready to own a home.
Before you begin looking at houses, make sure you have a clear picture of your finances.Take a look at your credit score to make sure you're able to get a mortgage.
Most mortgage lenders require that your credit score is at least 620-640.
After you find out if you're able to be pre-approved for a mortgage, set your price range.
Understanding your financial situation at the start of your house buying journey will help you set your expectations and narrow your search.
2. Find a Real Estate Agent
Buying a home is a big deal, so you'll want to seek a professional real estate agent to help make the process smoother.
Do some research and contact local agents, or ask for recommendations from friends.
You can also look up agent reviews, and see how they interact with their clients online.
If you think you've found the right agent, ask them some questions before you hire them such as:
•How much experience do you have as a real estate agent?
•How many buyers do you help at one time?
•What does your track record for selling homes look like?
Finding an agent you can trust is important, so take your time and find the right one.
3. Begin Looking for Homes
Now that you've got an agent, it's time to start looking for a house!
Take a look in person at some of the houses you're interested in, or look online.
Be aware that sometimes the home value estimates listed on the internet aren't always accurate.
Your agent is your best reliable resource for the search process. They can help you find what you're looking for, and answer any questions you might have. Remember to stay patient. You might not find the right house immediately, and that's okay.
Finding and buying a home is a long process, but worth it in the end.
4. You've Found a House, Now Make a Competitive Offer
You've found a house, and you're ready to make an offer. Taking the time to be thorough with the above-listed steps will help facilitate this part of the process.
Keep in mind that you may have to compete with offers from other buyers. Follow these tips for getting your offer accepted.
5. Close the Deal and Prepare to Move In!
Your offer has been accepted and you're ready to close the deal. Before you close, make sure you have the home inspected and obtain the proper insurance. You'll then have some final paperwork to read over and sign.
Make sure you ask any remaining questions you have before you give your signature.
The keys are now yours, and you can start to prepare to move in. Congratulations!
There's a lot of time and work that goes into buying a home, but planning ahead can make the process simpler. Follow the tips above, and you're on your way to buying your dream home.
Contact us here, and let us know how we can help you today.