First Time Buyer Info

First-Time Homebuyers Tips

Get Professional Assistance. Consider hiring a Realtor. A Realtor can assist you in finding the right home as well as help you through the buying process. Buying a home can be complicated, from locating financing to the various inspections, appraisals and legal forms required. A Realtor can help you through each step and make it a smooth and pleasant experience.

Get your finances in order. Knowing how much you qualify for is important but having enough money to cover your down payment and your closing costs is one of the most important issues. If you’re not sure how much you qualify for or if you know you’ll need assistance with the down payment or closing costs, ask about First Time Buyers Programs. Ivory Towers Realty works with various mortgage lenders that have programs designed for first time buyers or someone with not so perfect credit. They can assist you in determining which program fits your needs.

Choose the right home. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in the home longer? What features do you want in a home and which are most important to you? Your decision will determine the type of home you’ll buy as well as the type of mortgage terms you’ll need. You’ll want to compare several homes with the amenities you feel are most important.

Questions? If you feel you need to ask for advice regarding the decisions you’re making, select a person you trust that has been through the process. Ultimately it’s your decision about what’s best for you. Choosing one of Ivory Towers Realty’s professional licensed real estate agents to help you buy your home will give you the comfort and satisfaction knowing you received the professional and personalized service you deserve.

Bigger is not always better. If you buy the biggest home you can afford, chances are you won’t have money left for maintaining or decorating your home. Even if you buy a new home, there will be some costs involved such as new appliances, more rooms to furnish or windows to cover. You want to take pride in owning your first home and have money available to maintain it. Your home is a long term investment and in the event you want to sell your home it will have a better resale value if you’ve taken proper care of it.

Make your needs known. Communicating exactly what you want to your Realtor is very important and can save you a lot of time looking for homes that don’t meet your needs. Negotiating is part of the buying process but you don’t want to be demanding. Having a “must win” attitude, not being willing to compromise and always making offers well below the sales price can possibly cost you the home you really want.

Be prepared to buy. Sellers are looking for buyers who have pre-qualified or know the buyer is financially prepared to buy their home. Presenting offers with numerous contingencies will make your offer much less attractive to the seller.

Buyer’s Remorse. The commitment of buying a home for the first time is huge and feeling a bit of buyer’s remorse is expected when making such a large investment. But most important is the unforgettable feeling you get when you unlock the door and walk into your new home.