Are you ready to buy your first home? There are many important steps to consider when looking to purchase your first home. Our team is here for you every step of the way!
Also feel free to visit our site and learn about our “First Time Homebuyer Program” -http://www.sandyerickson.com/atj/user/AdditionalGetAction.do?pageId=414991
Join our exclusive First Time Home Buyer’s Club to get access to these benefits:
-Instant Access to All New Homes on the Market
-Home Buying Education
-$0 Down Payment Options
-$0 Closing Costs Opportunity
-Never Overpay for Your Home Guarantee
-On Time Home Closing Guarantee
Below are steps we find important when looking to offer on your first home!
Step 1: Decide to BUY.
You may still live at home. You may be renting currently. You may be living with a friend. Whatever the case may be, the first step to home ownership is to make the decision to purchase. If you have a job, and a credit score in the high 600’s, it is likely that you can qualify for a home loan at very low interest rates.
Purchasing your first home is a MAJOR step in your life. But, you must make sure you are ready for the responsibility that comes along with home ownership. Purchasing a home is a great investment and provides many different advantages. Some of these include: tax benefits, equity build-up, value appreciation, etc… Consider renting vs. buying. Are you actually saving money renting? Is this a long-term decision and lifestyle, or will that be changing?
Step 2: Find out how MUCH you can Afford.
Your lender decides what you can BORROW, you decide how much you can AFFORD!
Factor in all of your expenses (gas, groceries, utility bills, health care, gym memberships, etc…). Your monthly cost determined by the lender includes: principle, interest, tax and homeowner’s insurance. You also need to consider your down payment and PMI or private mortgage insurance. Leave room for the unexpected.
Step 3: Find the RIGHT Agent.
Good agents put their clients first. Find someone who can:
1. Educate you on the current market.
2. Listen to your wants and needs.
3. Provide you with other partners: loan officers, movers, handymen, etc…
Step 4: Find YOUR Home.
This is the fun step. Although, it can be stressful too. This is where you want to make sure that you have a good agent. This is going to be one of the biggest investments that you will ever make, and you want to make sure you do things right. Think about these things:
1. What is my most important criteria?
2. Is location the most important, or are the home features the most important?
3. Where do you want to be located- anyone or anything you want to be close to?
4. Which features and amenities do I need?
5. Is this a starter home, or something I can grow into?
Many buyers in this generation and market start their search online. When actually looking for a home, having an agent can make your life a whole lot easier.
Step 5: Make Your Offer.
Making an offer on a house can be a long process. And be prepared to sign your name numerous times! And many more times when you actually close!
When determining what price to offer, your realtor can help a bit, but ultimately… it’s up to you. Figure out a fair price. Your realtor can provide you with comparable properties in the market. Something to keep in mind is that homes usually sell for a little less then asking price. There is always room for a counteroffer. However, go in too low… and the seller’s may turn you away completely!
The home buying process does not end after making an offer. Many times, you may not end up with the house you THOUGHT you were going to. When you do have an accepted offer in hand, there are inspections, walk-thru’s, and a closing! And, after the closed sale, there are still many different things to think about! Setting up cable and internet, switching over names to your utilities, cleaning up the home, and of course moving day.
Sandy Erickson Real Estate Team of Keller Williams Realty
First Time Home Buyer Program: