Skip to main content

First Time Home Buyers

If you are a first time home buyer and don't know where to start, take a deep breathe.  Buying your first home can be a very rewarding experience.   The following steps can have you on your way to home ownership with a few phone calls and/or emails.  During my many years of real estate, these are the steps I advise for some of my favorite clients!

  1. Contact a lender for a pre-qualification.  There are loan programs designed specifically for you. If you are in a rural area, I suggest working with a local lender versus an online giant. Local lenders are familiar with the area and can possibly offer better loan options. Start with your bank or contact a local real estate agent for suggestions. The lender will gather your information and tell you a price range for a home you can afford.   
  2. Go Shopping!  This is the fun part!  Contact a real estate agent and tell them your wants and needs. Find ONE agent you like and stick with them. All agents in an MLS system can show all the properties available and help you find your perfect home. The agent can also advise you on homes that will work for your type of financing. Don't plan on buying a repo or fixer upper with your loan. Most government loans require the home to be move in ready with no major repairs. 
  3. Negotiate a contract.  When you have found the home your agent will guide you through the rest of the process.   Be sure to ask your agent about the seller possibly paying some or all of your closing costs. This can save some out of pocket costs at closing. 
And that is it!  Please note there are several aspects to the home buying process but this will get you started and on your way to home ownership.

#firsttimehomebuyer #cassvillerealestate #shellknobrealestate

Comments

Post a Comment

Popular posts from this blog

10 Staging Tips To Get Your Home Sold  Ready to sell your house? Here is a few staging tips to get your home prepared for the market. When listing a home that cost hundreds of thousands of dollars, if not millions, you want to make sure it's presented in the best light. You wouldn't buy a $50,000 dollar car if it was filled from top to bottom in someone's personal content and trash. This is the same mindset you need to carry into selling your home that will be worth well over a $100,000. 1.  SAY BYE TO CLUTTER The best thing you can do for your home for sale is to get rid of all of your clutter! Make a rule for your home that for every new piece that comes in, one must go. One of the biggest factors to a cluttered home is too much furniture. Generally, in a professional staging, half the home owner's furniture is removed to make the house look much bigger. Look around your house and see what you can pack away. It'll be worth the investment to get a stor...
Post a Comment
Read more

Why You Need To Sell This Summer

The market is hot, hot, hot! With interest rates at an all time low for buyers, the market has turned into a feeding frenzy, and home sales are skyrocketing in prices. In such a high demand, seller's market, homes are selling for record breaking prices, which means more money in your pocket. If you have been considering selling your home, doing so in today's market will bring you a larger sales price. Don't wait for the market to shift when interest rates begin to start going up again. The National Association of Realtors has gathered data to predict a strong 6 months of sales throughout the United States. And with such a large group of buyers hunting for homes during the summer months, you have a great potential to sell your home quickly, and move on to bigger and better things sooner. This is also a great buying opportunity if you are wanting to transition into a new home. Low interest rates equate to more savings. You could potentially end up getting a bigger home ...
Post a Comment
Read more

Why Rent If You Can Buy

Home ownership rates are the lowest they have been in the last 50 years. Yet a large portion of Americans are still renting properties, instead of enjoying a home of their own. Consumer reports believe this is an issue because of a buyer's lack of trust in their ability to purchase. It is still a long standing notion that a buyer needs 20% towards the cost of the home in order to move forward, but this isn't true. With countless down payment assistant programs, and closing cost roll-ins, a home owner could move in with as little as a few hundred to a couple thousand dollars. Which is a huge difference in the time it takes to save up to make the move.  With interest rates at an all time low, home ownership in today's market is a great investment. The money saved over a mortgage's lifespan can result in tens of thousands of dollars, if not hundreds. That's more money in your pocket today. Don't wait to buy when interest rates soar again. With low i...
Post a Comment
Read more