10 Tips for First-Time Homebuyers

Posted by Cary_Agent

1. Do not be unrealistic. No home is perfect but that doesn’t mean you can’t get most of what you want.

2. Decide what features you are looking for in a home before you start looking. Convey this to the agent that is helping you to avoid seeing homes you are not interested in.

3. Get your finances such as your credit report, closing costs, and down payment in order before you start house hunting.

4. Talk to a lender and get pre-qualified for a mortgage loan before you start looking to avoid having to do it after you have already found your new home. If you need a good recommendation for a good lender in Cary, NC, just let me know!

5. If you need second or third opinions just as 1 or 2 people versus everyone who knows you. It will just drive you crazy because they all might have different ones.

6. Deciding when you can move is important before you start the process. Find out when your lease is up, if you can sublet, and how tight the rental market is.

7. You need to consider long term options such as if you are buying a starter house with the intention of moving again soon, or do you want something long term. This will help decide the mortgage options as well.

8. Don’t let yourself be house poor by maxing yourself out on buying the biggest house you can afford. You need money to afford decorating and maintenance once you move in.

9. Don’t be naïve by avoiding the home inspection. Insist on one and if possible get a warranty from the seller to cover defects within one year.

10. Consider hiring a REALTOR® as a buyer’s representative to get the help you need. A buyer’s representative is working only for you whereas a listing agent is more concerned with the seller. Often, buyer’s reps are paid out of the seller’s commission payment