Buying your first home can be one of the most rewarding, yet challenging processes. Especially if you’re new to the home-buying process. To help you gain some clarity in this process, we’ll examine what you need to know before you buy, during the buy, and after the buy. Helping you become a more confident and informed home buyer.
Secure Your Finances First
First things first, take care of your finances. It’s important that you understand what type of mortgage you qualify for. For example, even though you may want to get a $500,000 home, you may only end up qualifying for a $300,000 mortgage. Meaning you’ll need to either lower your budget, or considering financing it directly. It’s important to secure your finances first before even beginning to think about shopping.
Find a Reputable Realtor
Once you get your finances in order, you’ll want to go ahead and find a reputable realtor. A real estate agent can be extremely helpful in locating homes that suit your needs and are within your budget. In addition, a real estate agent makes the entire buying process a breeze. We’ll take care of negotiating, making an offer, getting a loan, completing the paperwork. If you’re a first time home buyer, it is strongly advised to go with a realtor.
Narrow Your Focus
To make the buying process even easier, you’ll want to narrow your focus. Meaning, you need to lay out the specific criteria that your future home needs to have. Buying a house isn’t exactly a tiny purchase. While you don’t want to set unrealistic expectations, you do need to determine what aspects are the least and most important to you. Not only will this save you time, but it will help to insure that you’ll end up with a house that you really love.
Don't Forget Inspection
This is something that can easily be overlooked. Imagine, you’re enjoying a nice summer evening in your brand new home, only to discover the air conditioning broke. Talk about an unexpected surprise! Even if a home appears to be in great shape, it’s wise to go ahead and have a home inspection done anyway. This little extra precaution can save you big time in the long run. After all, what do you really have to lose by having one done? You are making one of the biggest purchases of your life, it’s worth taking that extra step.
The home buying process can certainly be overwhelming, especially for first time buyers. Which is why it is so important that you have the necessary knowledge and guidance. Whether you're looking for that perfect beach bungalow in Carolina Beach or a historic home in downtown Wilmington, Coastal Select Properties is here for you.
Contact us today to find out more about buying your first home