Helping first time buyers?
I am curious if anyone uses any particular practices or tools to help people who are shopping for a home for the first time.
I know when my wife and I bought our first home, it was overwhelming. We felt rushed and we got in over our heads. After becoming an agent myself, I learned better from it and when we did buy our second home, it was a much easier process because I knew what was going on, what questions to ask about the home, how to make an offer or a counter offer, and where everything falls when the papers are signed.
5 answers
Buying a house, an apartment, or a condo can feel like a daunting task, especially for first-time home buyers. A skilled real estate agent can play a major role in guiding these fledgling property owners through the maze that is a real estate transaction.
With real estate trends like those, you might be tempted to make an impulsive purchase that could hurt your financial goals and keep you paying a mortgage well into retirement.
First-Time Home Buyer Tips
Pay Off All Debt and Build an Emergency Fund
Determine How Much House You Can Afford
Save a Down Payment
Save for Closing Costs
Get Preapproved for a Loan
Find a Home for Sale in Your Price Range
Research Neighborhoods for Best Fit
Attend Open Houses and Think Long Term
Make a Competitive Offer (That’s Within Your Budget!)
Prepare for Closing
I worked with a young couple just a few years ago buying their first home. They were expecting twins so they were in a rush to buy and get settled in. We looked at several different homes over the course of 3 months. They finally decided on a home right before the wife was due and I spoke to them earlier this year and they had a lot of regrets.
I don't have anything I would do differently for first time home buyers vs those who have already owned homes. I will give advice based on what I have seen in the market and by other people's experiences though. Both of which can be very helpful.