The proportion of first-time home buyers is increasing. They currently make up 34% of everyone in the house-buying market.
With so many real estate market newbies out there, there’s no better time for a first time home buyer checklist. After all, the processing of buying a home for the first time can be intimidating. It’s one of the biggest commitments you’ll ever make in your life.
So you want to make sure you make the right choices.
But worry not! With our checklist, all your housing market anxieties will be vanquished. So read on to find out what you need to know before you put money down on your first house.
Step #1: Set a Budget
You’d be surprised how many first time home buyers forget to do this. Before you set out on your quest to own a home, it’s best to know how much you can spend.
On the one hand, this is about knowing what’s in your bank account. But it’s also about using mortgage calculators and checking your credit score to find out the kind of deals you can expect to get from financial institutions.
Step #2: Search Local
By all means, start the hunt for your dream home on a massive website like Zillow. But if you want to get the best deals and the hidden gems, you want to use a local real estate agent. The best realtor is a local realtor, after all.
What does that mean? Well, if you were in Minnesota, you’d do well to check out someone like https://chadschwendeman.com/. If you were in Arizona, you’d want an Arizona-specific agent. You get the idea!
Step #3: Get Pre-Approved
You don’t want to settle on your dream home only to find out you can’t get the mortgage for it. By getting mortgage pre-approval, you can rest easy in the knowledge that you’re guaranteed a certain amount. That way, you can avoid the heartbreak and disappointment that comes with having to say goodbye to a home you’d set your heart on.
Step #4: Make an Offer!
So you’ve set a budget, used the best realtor in your area, and gotten your pre-approval. The next step is to haggle!
Sure, homes have a sticker price, but most sellers are open to reasonable offers. If you play your cards right and negotiate with intelligence, you can save thousands upon thousands of dollars.
After all, what’s better than your dream home? Getting a killer deal on your dream home.
First Time Home Buyer? No Need to Fear
And that’s all there is to it! If you’re a first time home buyer, you can follow this handy checklist to make sure you don’t commit any terrible mistakes as you go about chasing your dream home.
Just follow this guide and you’ll have your dream home and a dream deal to go with it!
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