Tips for First Time Home Buyers

I can still remember our first time buying a home. 

As first-time home buyers, we needed to figure out what we were doing. Our first mistake was not interviewing the agent. Instead, we met the real estate agent at the home that we found online, and the agent told us that the 2-car garage was a 3-car garage and that the primary bedroom had a fireplace before we even entered the home, which of course, it didn’t. She was clueless.

Purchasing a home is almost as big a decision as starting a family and getting married, so we understand how it can get overwhelming. There are many steps and obstacles along the way, but receiving your keys will be one of the most rewarding days of your life.

Purchasing your first home should be a fantastic journey. 

Yes, it is a big deal and stressful, but the key is preparing for the battle and choosing the right team to help you with this endeavor.

Researching and making sure that you are well-informed will make it less daunting and will make it a more enjoyable experience.

Perez Team Properties have 20 years of real estate experience under our belt. Here are some home-buying tips that we can share with you in purchasing your first home:

• Make sure that you are ready. This decision will be a big purchase, so you must be 100% prepared. Do not be pressured that everyone else is doing it. Think of it long-term, are you ready for the obligation of a mortgage? A house would require maintenance. Are you up for the challenge? Is it going to be beneficial to where you are in your life?
• Start with the finances. You will want to have enough savings built up. This amount can vary from as little as 3% of the purchasing price and higher. (There are exceptions with particular loan programs depending on your credit score) Getting a loan approval may not be a deal breaker, but having a good credit score will make it easier for you to qualify for a lower interest rate. Before considering looking into available listings in the area, it would be an excellent step to talk to a lender to get a pre-qualification for a loan. Most experienced local real estate agents highly recommend a well-qualified loan officer in the area.  

Find an experienced real estate agent who will have your best interest. 

Get recommendations from friends and family members. If you are moving to a new area, check out online real estate agent reviews in the communities that you like. Zillow.com and Yelp.com are a couple of great resources to find an agent in the areas that interest you. Interview agents before deciding who you want to help with your home purchase. A great real estate agent or team is knowledgeable of the market and the trends; they have a solid plan of how they will be helping you out. Furthermore, find someone trustworthy. The real estate agent will connect you to the right people, address your concerns, and take the stress off the home-buying process. Your real estate agent will guide you from point A to point B and ensure you can own your first home. When you are ready to make that move, check out our “Moving Checklist”