Buying a home in today’s market? It’s not as crazy as you think. Here are 5 tips you don’t want to miss for first time homebuyers looking to find their dream home.
Save for a down payment and then some.
Most first time homebuyers will begin saving for a down payment, but then feel strapped when it comes to the additional costs that comes with closing on a home. Consider saving for closing costs and any moving fees you may face to feel comfortable after your first purchase.
Research your area.
Some first time home buyers will relocate to a new area that is more cost-friendly for their home budget. Others may stay closer to where they grew up for work or family. Regardless, both should consider researching the area they’re hoping to settle down in. This could save you your investment over time, getting you the most not out of your home but also your money.
Get pre-approved for a mortgage.
After a diligent search for a trustworthy lender, you’ll be one step closer to a brief conversation that will get you prequalified for your mortgage. After that a lender will need to verify your financial information and submit your loan for preliminary underwriting. Once you’re pre-approved you’ll have a pre-approval letter to share with your real estate agent to show you’re serious.
Find a real estate agent.
Having the right team can make all the difference when purchasing your first home. While you can do a lot of research online, a real estate agent will help navigate the market while also providing expert advice along the way. Our team of expert real estate agents can help you get started finding your dream home once your ready to get started house hunting.
Don’t give up.
We understand first hand the current market first time homebuyers are facing, there’s still hope to make one of the biggest and rewarding purchases in today’s housing climate. Be patient to find the home that is the right investment for you. Our team is here to work with you every step of the way.