Buying a home for the first time can be intimidating, but as with anything else in life, being prepared and having the right knowledge is fundamental. You are never too young, or too old to start enjoying the benefits of owning a home.
I will give you an outline that will help walk you through the home buying process.
Finding financing and getting pre approved.
There are many financing options available today and many great programs for first time buyers. Government backed loans such as FHA, IHFA, and VA can be a good option. You will typically need a 3% down payment, but there are grant programs available that can reduce, or eliminate the need for a down payment. Conventional loans offering 100% financing to first time buyers are also available. Drop me an email, or give me a call and I would be more than happy to help you find the right program.
Identify what you are looking for.
Take some time and write down what is important to you. Is there a particular neighborhood or school district you would like to live in? Would you prefer a ranch style home over a split level? How many bedrooms and bathrooms would you like? What amenities are important to you? After you have a good idea of what you are looking for I can provide you with a list of homes in your price range that meet your criteria, and keep you updated on brand new listings via email.
View specific homes and pick the home that meets your needs.
OK, so you are now pre-approved and have a list of available houses. It's time to go house hunting! This step can be a lot of fun, but can be frustrating at the same time. Choosing the home you would like to offer on can be tough, so refer back to list of features that are important to you, and weigh the pros and cons.
Negotiate the purchase.
Thousands of dollars can be lost or won in the negotiation process. How motivated is the seller? How long has the home been on the market? What are the market conditions? What concessions do you need? These are a few of the variables that will dictate the offer price, and as your agent I will help you get the best possible deal.
Close and move.
Congratulations, you now have an accepted offer and can look forward to moving into your new home! There are still the home inspector, appraiser, title company, mortgage lender, etc. that must be coordinated and overseen, but that is when having a good real estate agent in your corner is indispensable.
SO WHERE DO WE GO FROM HERE?
The only way to properly create your own home buying plan is to examine your personal financial situation AND your goals for the future. The next step is entirely up to you, but if you are serious about buying a home and avoiding the mistakes that can cost you thousands of dollars, here’s what I recommend.
In about a half-hour, we can determine what the best course of action is for you to take.
There Will Be No Obligation, No Pressure, And No Tricks…
Just solid, helpful, useful information!
After we meet and you are armed with the all of the facts, you will be prepared to make your decision about how you want to proceed.