If you have been trying to decide if now is the time to buy your first home, read on. Lee and Pamela St. Peter provide a great starting point for you. The real estate market right now provides wonderful opportunities, if you do it right.
1st time home buyers; NOW IS NOT THE TIME TO SIT ON THE FENCE...
Sure, buying your 1st home can be a scary thought...
It’s a big investment.
It’s a commitment.
...and who knows what the future will be like right?
Even with all the tumultuous real estate news out there these days, there really has not been a better time to buy a home in almost 50 years...
If you are TIRED of paying rent, don’t wait! Just arm yourself with sound advice and move forward and shed paying rent forever. You’ll be glad you did!
Here are 6 ideas for you to consider as you start out...
1. FIND THE RIGHT BUYER'S AGENT! It's sad but true - not all real estate agents are created equal. As a 1st time home buyer you will become joined at the hip to your agent. So be sure to feel comfortable with them. Not only personality compatible but also confident in their ability to look out for your best interests during the entire process! The home buying process isn't rocket science but there are many little nuances that an experienced agent will be able to navigate around and help smooth the transaction.
Results: a real estate relationship that will last for years to come.
2. UNDERSTAND THE HOME BUYING PROCESS. 1st time home buyers get so excited once they make up their mind to buy a home that they just start surfing the web, heading out to open houses, and even calling the listing agent to view a home. One of the reasons for finding the right buyer’s agent above is that your agent should take the time to consult with you FIRST and explain how the process works in your area to help manage your expectations..
Results: one relaxed 1st time home buyer.
3. GET PRE-QUALIFIED! It's sad when anyone starts out without consulting a lender. Here’s a situation that I hear all too often that really needn't happen … a 1st time home buyer jumps on the net - finds a home they just love and have to see! They call the listing agent - get an appointment and they're in love! That is until they talk with a lender and find that they either don't qualify, don't have enough for the down payment or closing costs, or just don't want to spend that much per month...
Results: one very prepared 1st time home buyer.
4. ASK - ASK - ASK! If you’re not sure about something ASK! There is no such thing as a dumb question! And this couldn't be truer than for the 1st time home buyer. Don't be afraid to ask about the upkeep, the taxes, and the insurance. Take time to review the restrictive covenants... especially for things like being able to put up that fence for Fido. Who owns all that nice wooded area behind the home? Will it stay nice and private...? AND especially ask about various places to live and/or if there is anything going up around the home that would affect its resale.
Results: one very thankful 1st time home buyer.
5. ACT QUICKLY! Even though you’ve heard it’s a buyers market, hear me on this please; the good HOMES STILL GO FAST!!! So once you've found the home that fits, DO SOMETHING!
One of the biggest 1st time home buyer mistake is not acting quickly enough and someone else comes right behind you and buys the house. So don’t wait!
Results; one very happy 1st time home buyer.
6. MAKE YOUR OFFER STAND OUT! Let’s face it 1st time home buyers don’t always have the ‘cash’. BUT it's not always about the highest price, or amount down - LTV (loan to value) that attracts a seller. If the home you're going after is a pearl - you can bet there will be others looking to purchase it as well. So how do you as a 1st time home buyer make your offer look appealing to a seller? One idea we've found that has worked is a letter from you to the sellers telling them in detail what it is that you love about their home and how you'll take care of it. It just might do the trick...
Results; one very satisfied 1st time home buyer!
Hope these tips help as you begin what I believe is one of the most exciting experiences in your life - buying your 1st home!
Read to get started? Call me. I'm ready too...
About the author: Pamela is a Realtor in Raleigh NC with The St. Peter HomeSelling Team at Prudential YSU Realty serving the Raleigh NC (Triangle) area.
We are a team of passionate North Carolina Real Estate Brokers dedicated to connecting our clients to success in home buying and home selling in the Triangle. Pamela can be reached via email at Pamela@RaleighHomesOnline.com or by calling (919) 645-2522.
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Text and photos copyright Kathryn J. Acciari unless otherwise noted.
All rights reserved.
Kathryn Acciari, RSPS, SRS, RESE, CFA
Century 21 MetroWest
45 Lyman Street Suite 14
Westborough MA 01581
Serving the Route 9/20 Corridors of Central Massachusetts
Sturbridge to Westborough
Cell: (508) 982-0686