First-Time Home Buyer Tips and Advice

Buying your first home is an exciting milestone. For some, it’s a dream come true and a proud personal achievement; for others, it’s a promise for their family’s future. Like any life-altering event, though, it can be overwhelming. Where do you start? How should you finance? What can you afford? The real estate jargon alone can be daunting for a first-time home buyer. 

Relax. We’re here to help you cut through the confusion so you can make informed, confident choices. The more you know, the less you’ll stress—letting you focus on the fun parts of buying a home.   

Below are two tips to start you out in the right direction. They explain the homebuying process step by step, and include helpful worksheets, checklists and other tools to keep you on track and in control.

 

 

Owning a home is now more affordable than rent in many markets, so you may be surprised by how much home you can buy. To find out, do a careful analysis of your finances—your income, spending and savings—to decide how much you can put into a down payment and what you can afford to pay each month.

 

Then, call a Loan Officer for mortgage prequalification. To streamline the process, it’s best to have these items on hand:

Your Loan Officer can help you determine the amount of credit you can expect and what that breaks down to in a monthly payment. Depending on your lender and factors like your credit history and income, you may be approved for more than you feel you can afford month-to-month, so make sure you have a clear, objective view of your budget.

 

 

Now comes the rewarding part: sitting down to decide what location, options and features you want in your future home. Knowing what you want helps keep the options manageable.

In addition to your real estate agent, there are a number of resources available for prospective home buyers. Homebuilder websites often have virtual tours, floor plans, area maps and other tools to help you learn about their communities. Your real estate agent has most likely has access to new build homes, information & websites. Don’t buy a New Build without a good realtor to represent you so they can look out for your best interest & negociate on your behalf! Plus, it’s free representation for you Buyers!