I love working with first-time home buyers. Helping you find your first home and guiding you from house hunting to move in day is a great feeling. Here are three things every first time home buyer should know before they start their search!
1. Work with one real estate agent. It’s best to have one agent who is helping you with your search. Your agent will be dedicated to finding you the right property, and then negotiating on all the terms of your transaction on your behalf. You want that person to get to know you and your family’s needs and preferences, rather than starting over with someone new each time you go look at a house. When you call an agent from a yard sign or social media advertisement, you are dealing with the seller’s agent. The seller’s agent has a fiduciary obligation to their clients and no obligation to you. You aren’t paying your agent; he or she is paid by the seller upon closing. Still, you are hiring someone to work for you, so feel free to interview multiple agents and pick the one that you feel fits you best.
2. Get pre-approved for financing. Unless you are paying cash for your home, you should talk to a lender before you start looking at houses. One reason is that it helps you set an accurate price range for house hunting. A mortgage lender will not only tell you what amount you can borrow, but also your projected monthly payment, your closing costs, and what you should or shouldn’t do with your finances to maintain your eligibility throughout the lending process. I would be happy to provide you with names of mortgage lenders in our area who have provided excellent service to my clients.
3. There are some up-front costs. You should have an inspection of the property done by a certified home inspector. This cost varies depending on the size, condition, age, and features of the home, but is usually a few hundred dollars. You will need to pay this at the time of service. You want to get as much information during your inspection period as you need to confidently move forward with the purchase. Let me know if you need names of trustworthy and reputable home inspectors in the area!
Want more information? Message me for my free in-depth virtual Buyers Guide. Ready to get started? Give me a call: 604.808.3797