At Cornerstone Realty you will find a realtor that understands the excitement and joy that comes with buying your first home, but also understands that there can be a lot of stress and worries with such a huge investment. This is why we have put together a few important tips for first time homebuyers.
1. Find a realtor: The first thing you will need to do is find a realtor in your area who you can trust. Your realtor should have extensive knowledge of the areas you are interested in and have a lot of experience selling homes in these areas. Once you find a realtor who is right for you, they will be able to help make the rest of the process a lot easier. You can look through our previous articles on how to find a realtor that works for you.
2. Budget is everything! Once you find a realtor who you can trust, you can work with them to figure out your budget and they can help you stick to it. Things that should be included when you are calculating your budget are the cost of the house, closing costs, mortgage payments, housing costs (including rates or HOA fees), interest rates, deposits, etc.
3. Get your affairs in order: Before you find the home of your dreams, it is a good idea to ask your realtor about what documents you will need and to get them ready beforehand. Make sure that you have a good credit rating, getting preapproved, have your tax returns and pay stubs ready to show your lender, and other related things might be needed by your realtor, lawyer or lender when it comes time to buy your first home.
4. Make a list: Before you begin looking at homes with your realtor, it is important that both you and your realtor know exactly what you are looking for in a home. You should start with the basics – the things that are non-negotiable and are a must-have. Then look at the things that you would really like in a home but are not a necessity. These can be split into two categories (wants and needs) and will vary from person to person. Some things to consider: how many bedrooms and bathrooms? What kind of living and entertainment area you need? What do you need from a kitchen? Garage and parking spaces? Do you need to be close to work or schools or public transport? Do you want or need an outdoor area? Etc.
5. Last, but not least…have fun! Go out with your realtor and look at as many homes as you want, get a good feel for the different areas, and when you finally find the house of your dreams you will be ready for it. Just remember that finding a home may take some time, so you may as well as enjoy the ride. And if you happen to find a realtor who understands you, your needs, and who you get along well with then the process will go a lot quicker than expected!