For first time home buyers the journey can be intimidating and/or exciting. So many decisions to make while purchasing a home including, legal, emotional and financial. Usually with input from many family members and friends. Buying a home is part of the American Dream and professional real estate agents are here to help you understand and get through the journey as stress free as possible.
Real Estate Agents can help you through every step of the way. Some of the steps you can take on your own, along with an agents help would be…
Get pre-approved for a mortgage
It may seem too soon, but imagine going through all the work of finding the perfect home and then finding out that you are looking at just a little/or a lot over what you can qualify for. This is the best first step to find out your price perimeters. Consider your hobbies, debts, obligations (maybe child support etc), spending habits, current bills and more. Check your credit report to see if anything pops up that needs an explanation or attention. You can check it at www.annualcreditreport.com. With a home purchase you also have to consider the down payment, taxes, home insurance and maintenance issues. Speaking to a lender to get a ballpark should be free. Our team can always recommend a lender to do this for you.
Know what you want
Figure out your wants and needs. Make your big list first (your wants & needs) then narrow it down to needs only. Have # of Beds,baths,garage,schools,basement,town. Try not to look too much at cosmetic things like carpet vs hardwood etc as that can always be changed at a later date. Use our website www.homesbyjulieanne.comto find out local information on the areas your are looking in. The Julie Anne Real Estate team covers many different areas but also include Barrington, Deer Park, Palatine and Lake Zurich. Try not to rely too much on out of state or area friends and relatives, they usually mean well but sometimes can’t advise you on what is best for you.
Don’t take any shortcuts along the way
Being a First Time Home Buyer can be so exciting and if you are not careful you may make some hasty mistakes along the way. If you fall in love with the first home you see, step back, talk to your real estate agent and ask their opinion. Also don’t skip the home inspection as most home inspections disclose hidden defects the sellers don’t even know about which could come back later to bite you. Do your homework on the area and specific location and go back to your needs list, does it fit?
Hire a great real estate agent for representation
Buyer agents commissions are in most cases paid by the seller or builder. So thier service is usually free to you. A professional real estate agent can help with every step as this is what they do for a living. Find a full time/full service agent like on on our real estate team. If you are thinking of buying a home from a small builder or new construction site, an agent can help you in many ways and is paid by the builder. A realtor can protect your interests along the way including..helping to negotiate with the builder on price, upgrades and any incentive available to you. Also in choosing upgrades that will help you on your resale in the future. Real Estate Agents know what the majority of buyers look for in a home and can help you with choosing options.
A great Real Estate Agent asks questions
If you are a First Time Home Buyer you need a great real estate agent. And one of the ways to tell if they are is if they ask a lot of questions about you. They need to get to know you to help you find the right home. They will also be honest with you if you seem to be going down the wrong path. Like if you really need a 3 bedroom home but see a 2 bedroom home with no room for expansion but you LOVE the decorating or kitchen cabinets. A great agent can see through the fluff and help you to see through it.
There are many people and events that go into purchasing a home try and relax a little
There are so many people, factors and events that go into you finding a home, putting a contract in on it and then actually getting to close on the home. There is a chance of the closing being delayed or everything not going perfect. Everyone works together to make things go as smoothly as possible in your purchasing a home, but try and be a little flexible and patient.
In this market it is easy to have a second choice home or plan B
Not any home is going to be “the perfect home“, but many will be close. Try not to give up if the home you fell in love with was sold or is off the market or won’t negotiate to your spending limit. Have a second choice so you don’t get too caught up in the negotiating and over do it on your offer on the home for sale. A great real estate agent can help you with figuring this out and with negotiations. A few years back we had to move much quicker and we still do on homes that are priced right for the real estate market now. Your agent will tell you if the home is under-priced and needs to be moved on quickly or if they think there is some time and how much room there may be for negotiations.
Congratulations to all that are in the right place at the right time for Being a First Time Home Buyer. This is a once in a lifetime opportunity. You are going to look back 5 years from now if you buy a home now and say that you made a great financial decision.
Posted By: Julie Anne – The Julie Anne Real Estate Team at Keller Williams Success Realty