Buying a home is a major undertaking. And for first time buyers, the process can be very overwhelming and stressful. As a professional real estate agent with years of experience representing first-time buyers, here are my recommendations on how to make the home buying process as easy as possible.
- Paying off all of your debt, or as much as possible, and building an emergency fund will help you have maximum buying power and flexibility while in the home buying process.
- Save for a down payment. The greater your down payment, the lower your mortgage payments or shorter loan duration will be.
- Save for your closing costs, as sometimes these come as a surprise to first-time buyers. A good buyers agent will help negotiate for the seller to cover the closing costs, but being prepared will help expedite the closing process.
- Determine how much house you can afford by meeting a mortgage lender professional and sharing financial information to determine your loan options.
- Get preapproved for a home loan when meeting with your mortgage lender professional. A preapproval letter will help sellers feel confident in your offer.
- Once you know how much home you can afford, search for available homes in your price range. Looking at homes that you can afford will ensure that you find a house within your budget and prevent you from falling in love with one outside of your price range.
- Research neighborhoods for you best fit, which includes accessibility to your job and proximity to key locations, such as schools or family, in addition to price range of homes.
- Attend open houses and remember to think long term while viewing homes. How long do you intend to stay in this home and what might your life look like then. Select a home that fits your present and future.
- Once you’ve found the best fit home for you, make a competitive offer within your budget. Be prepared for competing offers and consult with your realtor on your strategy before submitting an offer.
- After your offer has been accepted, prepare for your closing by providing all requested financial documents to your lender quickly and accurately. Schedule a home inspection quickly once your offer is accepted and consult with your realtor about any potential repairs or findings during the inspections.
As a first-time buyer, your real estate agent is there to make the process as easy as possible. Lean on your agent to make your first home purchase easy and successful.
Are you ready to buy or sell? We are your one stop shop for real estate. Simply put, there is no need to search elsewhere for your dream of buying or selling a home!
Call me today!
Steve Maxwell 480-226-8375.
Your real estate agent for the Southeast Valley of AZ
Serving the greater Phoenix area and more.