First-Time Home Buyers

If you are a first-time home buyer, these are helpful hints and tips to put you on a positive path for purchasing your home.

  • Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home.
  • Pre-Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You'll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, the seller knows immediately that you are a serious buyer for that property. 
  • List of Needs & Wants: Make 2 lists. The first should include items you must have (i.e., the number of bedrooms you need for the size of your family, a one-story house if accessibility is a factor, etc.). The second list is your wishes - things you would like to have (pool, den, etc.) but that are not absolutely necessary. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.
  • Representation by a Professional: Having a real estate agent who is working for you, the buyer, not the seller is important. 
  • Focus & Organization: In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Such items may include:
  1. One or more detailed maps with your areas of interest highlighted.
  2. A list or file of the properties that your agent has shown to you.
  3. Use a real estate website to mark homes you like as favorites.
  4. Take pictures of homes you have toured to help you remember your favorites and features you really liked.
  • Visualize the house empty & with your decor.
  • Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:
    1. Include inspection & mortgage contingencies in your written offer.
    2. Have the property inspected by a professional inspector.
    3. You want to check to see that no changes have been made that were not agreed on.

This may seem overwhelming and just know we’re with you every step of the way! We love working with first time home buyers. Please contact us directly to discuss any of these matters in further detail.