Tuesday, 21 February 2017

Tips for First Time Home Buyers




So you are finally ready to transition from a rental to purchasing a home? Or maybe you lived with your parents a little longer than you wanted to so you could save for a down payment? Either way, if you are a first time home buyer, here is a great little guide to help you navigate the road to home ownership.


Save! Save! Save! 
In addition to a down payment, you will also need to have enough money for closing costs and escrow for insurance and taxes.

Improve Your Credit Score- Remember the higher your credit score, the lower your interest rate

·        Make sure you pay your bills on time

·        Do not make any major purchases (car, furniture, etc.)

·        Don’t cancel any credit cards


Get Pre-Approved 
Chances are what you think you can afford and what you actually can afford is very different. Speak to a few different mortgage lenders to get pre-qualified and make sure to shop the best rate.


Decide What Your Non-Negotiables Are 
No house is perfect and no house will have every single feature you want. Decide on the must haves so you can weed out the ones you don’t want before ever going to see it.


Choose a Realtor
Make sure that you are comfortable with the person you choose as your realtor. You will be working very closely with them during the home hunting and home buying process.


Visit Homes
When you go on appointments to view the properties, make sure you take lots of notes and maybe even pictures.


Narrow Choices

·        If you see a home you like, you may want to drive through the neighborhood at different days and different times and check for noise, traffic, etc.

·        How is the commute to your job?


Make an Offer
Your realtor can help you to determine the asking price based upon comps in the area


Schedule the Home Inspection


Do a Final Walk Through

·        Test all light switches and outlets

·        Check that windows and doors work

·        Check faucets, drains, toilets


Move In and Create Your Memories!
I am a realtor working in South Florida. If you need help buying or selling a home, please contact me. Also, please view my website where you will also be able to search the MLS. http://www.lindatabaskygoldberg.keyes.com/

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