6 Tips For A First-Time Homebuyer
Buying a home for the first time is both exciting and scary. There are many unknowns for the first-time buyer, and too often mistakes are made. Obtaining financing, understanding inspections, closing costs, and other incidentals are all challenges for the first-time buyer. The following tips cover some of the most important things the buyer needs to know, but it’s also important to hire an experienced real estate agent to help explain the process.
Arrange For Your Loan – A pre-approval lets a seller know you are a serious buyer. Without a pre-approval, you may have difficulty knowing just how much you can afford to spend on a home. A seller is unlikely to entertain an offer if there is no guarantee the buyer can finance the purchase.
Hire A Buyer’s Agent – It’s essential to hire a buyer’s agent, who is focused on getting the best deal for his or her client. Your buyer’s agent will search the listings for homes that meet the parameters you have set, and in your price range. The agent will often have access to listings not yet on the market.
Look For A Home
Have a checklist of the most important things you need in a home. It’s too easy to fall in love with a house for all the wrong reasons. Take your checklist with you each time you look at a house to keep you on track for the requirements you really need.
Have A Home Inspection
All homes have small issues that may need cosmetic repairs, but no buyer wants to replace a roof or a furnace. A home inspection finds major problems that could be costly to fix. Sellers are not obligated to take care of issues discovered during a home inspection, however, a needed repair can be a good negotiating tool to reduce the price.
Budget For All Expenses
When buying a new home, there are expenses beyond the purchase price. Consider money for inspections, closing costs, utility bills, snow and ice removal, upkeep, taxes, insurance, homeowner association fees, increased fuel expense to go to work, and other similar expenses. You may need to adjust the amount you can afford to pay for a house when taking everything into consideration.
If you are considering a home in a neighborhood with a homeowners association, ask to read the contract before making any decision on purchasing. What approvals does the contract require from the association? Can you choose your exterior home color, or does it have to be approved? Does every home have the same color roof? Are there landscaping requirements? Can you have a vegetable garden in your yard? Once you are locked in, there isn’t much you can do to change it. Many associations don’t allow owners to rent out their homes. Don’t get locked into regulations you don’t want.
Buying your first home doesn’t have to be a nightmare. Don’t be afraid to ask questions of your mortgage-lender and your real estate agent. Family members who have bought homes can also be very helpful in relating the mistakes they made. Follow the tips, buy your new house, and enjoy the life of a homeowner.
Having been in the Venice, Florida area for the last three generations, Brad Tritschler REALTOR has been upholding his family’s record of success and integrity throughout his career. Brad has been a Florida sales agent for 25 years and is also a licensed broker. He has earned a reputation for quality service and results with an accomplished track record.
Recognized for five-star customer service by Sarasota Magazine nine years in a row and counting, Brad is as passionate about the territory he represents as he is about helping clients fulfill their needs. Born and raised in southwest Florida, he currently resides in Palmer Ranch in the heart of Sarasota County and specializes in luxury and waterfront properties.