First Time Buyers
First Time Buyers
If you are a first-time home buyer, use the guide below for helpful hints and tips and learn how to avoid common mistakes when buying your first home.
- Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home. We have some of the best lenders in town and we’d be happy to provide you some names if needed. Note: a pre-qualification is NOT the same as a pre-approval.
- Pre-Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to entertaining your offer if you have been pre-approved. In fact, when we make an offer for you, we MUST have a pre-approval letter to submit with it. You’ll also avoid being disappointed when looking at homes that are out of your price range. With a pre-approval, you’ll actually apply for a mortgage, provide pay stubs, tax information, and bank statements, and you’ll receive a commitment in writing. This way, you can go house shopping with confidence. And, assuming the home you’re interested in is at (or under) the amount you are pre-approved for, sellers knows that you are a serious buyer for their property. It doesn’t cost anything to get pre-approved, so go ahead and take care of this important step early!
- List of Needs & Wants: Make two lists. The first should include items you must have (the number of bedrooms and bathrooms 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: We will represent you as your Buyer’s Agent throughout the entire transaction, keeping your best interests in mind. We work for you, not the seller.
- Focus & Organization: Keep handy the items that will assist you in maximizing your home search efforts. Such items may include:
- One or more detailed maps with your areas of interest highlighted.
- A list or file of the properties that you’d like to see and homes that we’ve already viewed.
- Paper and pen for taking notes as we tour properties.
- A camera to snap pictures of homes you’ve toured to help you remember your favorites and features you really liked.
- Visualize the house empty & with your decor: Are the rooms laid out to fit your needs? Is there enough light?
- Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? There are many houses on the market, so don’t make a hurried decision that you may regret later.
All the above may seem rather overwhelming.
That is why we’ll be with you every step of the way! We’ll represent you in a professional manner to keep track of all the details for you. Please reach out to us directly to discuss any of these items in more detail.
We look forward to working with you!