If you are a first-time home buyer, there are a lot of things to learn, but here are the 5 most important things to focus on to start.
1. Find a Realtor you can trust! Just because your mother’s best friend’s sister’s daughter recently got her real estate license, you don’t need to feel obligated to use her. Ask around. Get referrals from other people who have used realtors in the past and are happy with their results. Interview the them. Ask them how many homes they have sold . Get a sense of their level of professionalism. Ask them how they would work with you. Be sure to listen for words that tell you they have YOUR best interests at heart.
2. Find a lender you can trust! Here’s where trusting your agent will be a big help. There are a lot of mortgage lenders and most of them are very good at what they do. You want to find one who will be willing to work with a first-time homebuyer. You are going to have a lot of questions and you want to be sure the lender will be available to you as you work through this process.
3. Start your search for your new home. This can be both fun and frustrating. Make a list of everything you want in your first home. Then go back through that list and identify what items are most important and what you absolutely must have. Remember that there is no perfect home. Be realistic about what you can buy on your budget.
4. Learn everything you can about the process of buying a home. At first, even the vocabulary might seem daunting if your realtor is throwing out words like SPDS and BINSR. Ask your agent to explain the process to you, in detail, and then keep asking questions all the along the way if there is anything you don’t understand. This is gong to be your house. You have a right and a responsibility know everything that is happening. Keep asking questions until you are sure you understand.
5. Patience, patience, patience! Remember that this is a process and there will be some bumps along the way. This is why you need an agent you can trust. If the inspection comes back with more than you think you can handle, talk to your agent. Maybe you should cancel and keep looking. If the house doesn’t appraise at the value you need, talk to your agent and your lender to get their advice. Try to stay calm in times of stress and lean on the professionals you’ve hired to help you through this.
Buying a home at any point in your life is one of the most expensive and emotional things you will ever do. It can be exhilarating and fun and difficult and exasperating all at the same time. This is why the number one thing you want to focus on first is find an agent you can trust. If you start out with a great agent, the entire process will be so much easier and rewarding at the end