Hi Future First Time Home Buyers,
I know you’re thinking about buying a house. Why rent when you can buy, right? I do understand that due to unfortunate circumstances, many of us are forced to rent temporarily; however, that doesn’t mean that you can’t prepare yourself ahead of time for the right opportunity. If you’re building your credit or ready to start the process, below you will find a few helpful tips and ideas that should be extremely beneficial to you no matter where you are in the home buying process.
- Contact a lender to see what you would qualify for. Knowing your pre-approval amount will eliminate a lot of stress to you and your Realtor. As a realtor, we love he
lping our clients and exceeding their expectations; however, there is no fun in showing someone a ton of homes only to find out that they aren’t qualified. What you can afford depends on your income, credit score, current monthly expenses, down payment and the interest rate.
- Learn about home buying programs if you’re looking for assistance with purchasing your first home. FHA loan programs offer lower down payments and are a good options for first-time homebuyers. Your lender will also help explain the different programs that are available in your current state. Contact me for additional information.
- Contact a Realtor like myself. If you have not already contacted a real estate agent, now is a great time to do so. You should be pre-approved at this point and now you just need to find a house. Find an agent who is experienced and knowledgable in the market that you’re looking in. Schedule a time to have a sit down with your agent and go over your wish list with him or her. Be realistic about your expectations. If you’re looking for something move-in ready or a fix upper, let your agent know. Your agent is there to help you. Don’t hold back any important information and discuss any questions or concerns that you may have.
- Make an offer when you have found that perfect home. Your agent will assist you with this process. He or she will bring you into the office or use an e-signature program for you to conveniently sign the appropriate documents at your convenience. Making the offer is a big and for some buyers, a scary step. You’re worried if the offer will accepted, too high or too low. Your agent is the professional and will negotiate on your behalf, so relax.
- Home Inspection will be offered to you and recommended to you for your protection. Know what you’re buying!!! So your offer was accepted, CONGRATULATIONS!!! You’re even closer to becoming a first time homebuyer. You have received everything you asked for in your offer and now it is time to get the home inspected. During this process, a licensed and certified inspector will check the property and provide detailed information about the overall condition of the property. He will evaluate the physical condition: structure, construction, and mechanical systems; Identify items that need to be repaired or replaced; and Estimate the remaining useful life of the major systems, equipment, structure, and finishes.
- Sign the Papers at closing. After the inspection process, if there were any repairs needed to be made, your agent would have included them on a “request for repairs” sent to the sellers. Lets say the seller agrees to make the repairs, your lender will order the appraisal, make sure the repairs have been completed, etc. You would have already shopped for the most affordable homeowners insurance, signed your loan documents with your lender and so on.
At closing, the closing attorney will go over a ton of documents that you’ve probably already seen from the start of the process such as your loan documents. To make a long story short, everything goes well for you at closing and you and the sellers are happy and smiling and well wishes are wished. Your agent and lender hands over closing gifts to you and your family. Pictures are taken with you holding your new house keys along with your gifts. Your eyes are filled with tears of joy as you have just made one of the most biggest decisions in your life. You beat the odds and didn’t listen to your family and friends when they kept telling you to just rent. You feel great about your decision and love your new home and now you’re a first time home buyer. The feeling is amazing as you have just
accomplished one of your life long goals.
For more information or if you have any questions or concerns regarding homeownership, please do not hesitate to contact me at firstname.lastname@example.org
Thank You For Reading!