Real estate agents work with first-time home buyers all of the time. Here are some thoughts to consider before beginning a search for your first home:
- What will be the “must haves” for your first home? Be realistic. Is it 3 bedrooms and 2 full baths? Is it a walkable neighborhood? Is it having a garage or a basement? Write down your priority list.
- A perfect home does not exist. You will not find a home with everything you want and will need to make compromises. But, when you do find your home, although it may not have all of the amenities, it will still be your perfect home!
- You need to know what you can afford. Is it very important to consult with a mortgage loan officer to figure out a budget. Besides a monthly mortgage payment, you will need to consider home insurance and property taxes. Also, you need to learn about down payments and closing costs.
- Resale value. Most first-time buyers move within the next 5-7 years, so think about re-sale value.
- Learn about local market conditions. When you start your home search, you will need to be educated about current market conditions of the areas that interest you.
- Location. This is an important factor to consider when making a home purchase!
- Be prepared to act quickly. Once you understand current market conditions, you may need to act quickly when a home meeting your qualifications is listed.
- Learn. There may be downpayment or tax incentives available.
- What your real estate agent does. Your agent will inform you of the entire buying process as well as market conditions to empower you to make decisions. Your agent will guide you through contracts, negotiations and closing.
Contact your favorite Sibcy Cline Agent to start your home search!