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4 Tips For First Time Home Buyers
Jul 26, 2019
Buying a home for the first time can be stressful. Rely on these tips when you're looking for real estate for sale in Houston.
Purchasing your first home is a celebratory, and sometimes scary, experience. If you are financing your home, there is a lot of paperwork to be done, but don’t let all of that paperwork and red tape get you down. You are not alone! In 2019, 42% of home buyers were first time homeowners. Here are four tips for first time home buyers to make the process smoother.
1. Set A Budget And Stick With It
Before you even start looking at real estate for sale, sit down and figure out how much money you can afford to spend on a home. Set your budget and don’t stray from it. In fact, set a lower end budget and a “we really want this house” budget. That way if you really do have to budge on your price, you already accounted for it in your budget. Then talk with real estate agents in Houston Texas to find real estate listings that meet all of your needs.
2. Research Everyone You Work With
From your mortgage lender to your real estate agent to your inspector, do some background homework on everyone and every company you work with. Read reviews to get an idea of what you’re getting yourself into with them. Buying a home for the first time should be a memorable experience, so make sure you’re working with real estate agents you trust.
3. Take Pictures Of Everything
When doing a walk-through of real estate for sale, take pictures of every room from as many angles as possible. This can help you envision your own furniture in the room later or help you when deciding to buy new furniture. This is also an opportunity to note any damage prior to moving in. You’ll want to know if you have any money coming out of your pocket upfront, so take plenty of pictures and make good notes on them!
4. Enjoy The Process And Be Patient
Trust the process, which means that things can and will go wrong. Everything will be okay. Your realtor will be there to guide you through any financing delays, inspection mishaps, and seller shortcomings. Be patient, because there are always delays. And then there are delays for the delays. So, again, be patient and just enjoy the process of buying your first home.
Real estate for sale doesn’t have to be a daunting process. It can be simple and relaxing if you just follow these four tips: set a budget and stick with it, research everyone you work with, take pictures of everything, and enjoy the process and be patient. Buying your first home is like a walk in your local Houston park!
Buying a home for the first time can be stressful, overwhelming, and exhausting all at the same time! There’s so much to take in as a first time home buyer, so we’ve compiled some trade secrets for you to help you out in your journey. Keep Your Money Where It Is In the months before applying for a mortgage, you’ll want to keep your money right where it is. Lending companies want to make sure you have a reliable income, so moving your money around, applying for additional credit, and buying large ticket items can be red flags. You don’t want to take any chances when it comes to your credit profile! Go With the Flow There’s no perfect time to purchase a home, so try not to anticipate the real estate market to determine when to start looking. Real estate markets fluctuate constantly, and if you wait it out for the “perfect time,” you may never find the best home for you. Stalk the Neighborhood Sure, you can change things around your new home. But you’re unable to change your neighbors! If you find a property you really like, make an effort to visit the neighborhood morning, noon, and night to see what is going on. You’ll get a better picture of if the area is a busy neighborhood, if your neighbors are constantly out and about, or if you will be living in a relatively quiet place. Don’t Forget the Hidden Costs When creating your budget, don’t just focus on your monthly mortgage payment! Buying a home and maintaining it can be incredibly costly to those who are not prepared. Make sure to budget in closing costs, inspection fees, home insurance, regular maintenance such as mowing the lawn and cleaning out gutters, and utilities. As a general rule, it is always better to stay modest when creating a budget as you most likely will need some wiggle room with these unforeseen expenses. When it comes to Houston real estate, Kay Harris is the real estate professional you can turn to. If you are looking to buy a home in the Houston area, give us a call today and we’ll get the process started.
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