First Time Home Buyers - Do's and Dont's |
Buying your first home is exciting. Instead of paying rent each month, you'll be building equity in one of the safest investments available - real estate. But for the first time home buyer, there are a lot of things to take care of - choosing a Realtor, getting a mortgage loan, finding real estate brokerage services. It sounds complicated but no worries- once you begin, the home buying process moves right along. To help with the basics, here are some first time home buyer tips.First Time Home Buyers - What to DoUse an experienced Realtor. As you take the first steps to buying a home, using a real estate broker to represent you a wise decision. Whether you're moving to the suburbs, the city, buying a home through a real estate company, or a for sale by owner property, an experienced Realtor offers guidance and expertise. He or she can help you find a new home, make offers, arrange inspections, explain types of mortgage loans and programs available, accompany you to the closing, and protect your interests - all at no cost to you because the buyer's agent fee is paid by the home seller. Hire a real estate attorney. For most people, buying a home is the largest financial transaction they'll ever deal with. Hiring a real estate attorney to help with your purchase can be a smart move. They can scrutinize any or all steps in the buying process and review the pages and pages of legal documents you'll be signing. Get pre-approved. One of the first steps to buying a home is pre-approval by a mortgage lender to determine how much of a mortgage loan you qualify for. A pre-approved loan saves time after finding a house to buy, and can save disappointment if you're not able to qualify for a home you love. Decide what you're looking for. Make the search easier with a list of what you're looking for in a home. Start with what you must have (number of bedrooms and full baths, good schools, a livable commute time, etc.) and then what you hope it for (single family or condo/townhouse, porch or deck, fenced yard, proximity to family or friends, pool, etc.). Home Buying Guide - What Not to DoDon't get in over your head. When you fall in love with a house it's easy to let emotion get in the way of making the most important decision - can you afford it? Consider the mortgage loan payment, taxes, insurance, cost of utilities, home upkeep and lawn care, home owners' association dues, and so on. Don't forget to check out the neighborhood. Research your prospective neighborhood before you buy with online research, talking to residents, driving through in daylight and evening, and even calling the local police department for information about the area. More Moving and Home Buying TipsYou'll find more articles on this website to help you with home buying and moving tips such as: how to save money when moving, tips on how to move cable service, moving internet service, moving phone service, staying connected during a move, keeping utilities connected during your move, and more. |
