Home Buying 101: Guide for First Time Homebuyers

Buying a home is a major, lifetime investment. When doing it for the first time, you may not know exactly what to do, which can be a risk bearing in mind the huge amount of money you’re about to spend. Without proper planning, the process can be strenuous and even unsuccessful. 

Here are some tips to guide you through your first-time home buying process. 

Acquire a Pre-approval Letter 

Never underestimate the use of a pre-approval letter when buying your home. The lenders use it to determine the amount you can afford based on your credit score and financial rating. Additionally, presenting a preliminary letter shows sellers and real estate agents that you are a credible buyer. This letter helps you improve as you save to meet the required limit in case of a poor credit score. 

Understand What Exactly You Want in a Home

Creating a checklist of everything you want in your home helps you stay in perspective. Put clear the needs such as the size, structure, cosmetics qualities, the number of stories, architectural design, age, yard size, price range, and location. Narrowing down the list makes it easy to find a customized home within a short time.

Seek a Real Estate Agent’s Help

Real estate agents play a significant role in your home search process. The progressive experience in the real estate business puts them in a better position to advise you. Consider interviewing a number of them to find the best who will take you through this daunting task. It’s also wise to ask for referrals from the latest home buyers or even friends. The right real estate agent will save you money and energy in the long run. 

Here’s why you need a trusted agent on your side;

• A trusted agent gives you honest reviews and answers questions about the homes you’ve chosen. 
• If you choose the right agent, they will give you the right, updated information since they know market trends in real estate.
• Buying your home can be stress-free if you go for a trusted agent. They offer help while still selling; therefore, they don’t appear too salesy, but helpful.
• The agent’s work is to make it a little bearable when purchasing a home. A trusted one gives options of better deals and negotiates with the seller on your behalf. 

Have Physical Tours to the Homes You’ve Shortlisted  

Online home search gives you beautiful photos of your dream home. Unless you visit physically, you’ll never find the hidden details such as the surroundings. So, once you have a list from the online search, narrow it down to the homes you want. You can then plan to visit and check the neighborhood, general layout, and amenities. 

Get a Professional to Inspect the Home on Your Behalf

A home inspection is very important in the home buying process. You want to rest assured that everything is in good condition, and a home inspector will confirm whether you are making the right investment. Ask many questions on the spot and note down any issues. Better still, you can tell the inspector to come up with a sum of the total repairs. Either negotiate with the seller to reduce the price or cater for the repairs therein.

Are you looking to buy a new home from a Boutique Real Estate Agency?  Sign up at Signature Properties Group to get the best home-buying deals. Signature Properties Group’s owner, Trisha Puleo, is a real estate professional with 20+ years of experience in home selling and buying. 

Our real estate business operates in the areas of Chester, Delaware, Philadelphia, and Montgomery. Feel free to seek Residential Real Estate and Commercial Real Estate services from a professional who understands the market trends better. Visit our website to find our contacts and newsletters on the best homes to buy.