Tips for the First time Home Buyer

Tips for the First time Home Buyer

If you are currently in the market for your first home, you probably have lots of questions. You are about to make an important decision for your future, a great investment of both money and time. I have a wealth of experience helping first time buyers like you make sound, informed decisions. Here are some tips that can help make your home buying process successful:

  • Tip #1: Do Your Homework
    The perfect home wont find you by itself. The key step in buying a home is doing the proper research. Educate yourself on local schools, neighborhoods, and the kinds of homes available. By reading available materials and talking with experts, you can start to put together your idea of the perfect home.
  • Tip #2: Start Planning
    Most decisions benefit greatly from proper planning, and home buying is certainly no exception. Start a filing system with sections such as home buying, home financing, and service providers. By forming a home buying plan you can more easily focus on the most important factors and help give structure to the entire process. My website is a great resource for property information.
  • Tip #3: Get PreQualified
    Getting prequalified for a loan normally only requires a short phone conversation with a lender, and can greatly help your home search. Prequalification does not guarantee you a loan, but it does provide you with an estimated monthly payment and a price range to use as a guide when shopping for homes. Being prequalified can also often indicate to sellers that you are a serious, prepared buyer.
  • Tip #4: Look for Value
    When shopping for homes, its important to consider potential value. Even if youre not planning to sell the home some time down the line, its a good idea to consider the future value of the home. Protect yourself against things like falling prices and gradual shifts in the nature of the neighborhood. You may not think of a new home as a means to make money, but its an important investment that requires caution.
  • Tip #5: Decide What Youre Looking For
    Settle on the home features that are important to you (covered parking, hardwood floors, architectural style, etc.) and make an ordered list. Having well established guidelines will help narrow down your search and will prevent you from being shown properties that lack your key amenities. It can help you make the decision not to buy an attractive property that doesnt really fit your needs. My website has a search feature that allows you to filter thousands of listings based on attributes that you select. If you know you want a brick house with gas heat and a garage, you can get the results youre looking for.
  • Tip #6: Relax
    You dont have to make an offer on the first home you see. Make sure to look at other listings in the area to get a feel for the marketplace. When you decide to make an offer on a house, consult with your real estate professional so that all of your questions are answered.
  • Tip #7: Shop Around for Your Mortgage
    Deciding on the financing for your home can be as important as choosing a home itself. The first step is deciding what kind of loan best fits you: a fixed rate mortgage, or an Adjustable Rate Mortgage (ARM). There are benefits to each form of loan, and your real estate professional can provide you with more information. Next youll want to begin to shop around for different lenders.
  • Tip #8: Protect Yourself
    Be careful when signing a contract on a home that allows you to find financing, have the home inspected, and work through any problem areas that may arise. Paying for a quality home inspection is absolutely crucial! You can save yourself thousands in repair costs by being sure of what youre getting into. 

Why not start your search here  www.danielesmithrealtor.com


Erica Taylor Headshot
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Phone: 469-358-3258
Dated: April 23rd 2013
Views: 2,045
About Erica: About me. I am originally from Bryan/College Station and moved to Dallas in 1999. I have been in t...

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