First Time Homebuyer Guide - Part 3
by Pam Simpson
Desoto-Tate County Real Estate

PART 3:  Looking....Looking...Looking (Finding The Home)

So, in Part 1 you found a Buyer's Agent.  In Part 2, you found your lender.  You have your pre-approval from the lender and you know what price range to target.  You are ready to find your first home.

Lately, I have seen a recurring problem with some first-time homebuyers.  I call it  HGTVitis.   That is the unrealistic expectation that their first home is going to be their "Dream Home" - like something you would see on HGTV.  Don't let this happen to you.  Here is a link to a great article on Active Rain about that issue:  Your Third House is your Dream House

In a few rare cases, one could live out the rest of their lives in the very first home they purchased.  In reality, most people buy and sell a few homes before they settle into their "Dream Home". 

With that in mind, it's time to start looking for your first home.  It may be helpful to make a list of NEEDS and another list of WANTS  and maybe another one of NO WAY.  The needs list may include things like:   covered parking, a certain number of bedrooms, or a certain school district.  Your wants list should include items that would be icing on the cake, but are not necessary.  Perhaps you would like a separate dining room but would consider a home with a nice eat-in kitchen instead.  The no-way list would be things that would immediately disqualify a home from consideration.

Go over these lists with your REALTOR®.    Communication with your REALTOR® is very important in finding the right home for you.  When you are out looking at homes, let your REALTOR® know what your thoughts and feelings are about the home.  Be specific.  This will be a tremendous help and should result in finding the right home fairly quickly. 

If you are having trouble finding the right home, it may be that you are not being realistic with respect to your budget and your local real estate market.  When in doubt, ask your REALTOR®.  I have never held back showing a home to buyers that I thought would meet their needs.  I am in the business of finding a home for you.

The next part in the series is Making an Offer.

This guide is designed to help first-time homebuyers better understand the overall process and steps in purchasing a home.  There will be 6 parts in this series ranging from finding an agent and lender and the correct loan program for you to what to expect at closing.  It is meant to be VERY elementary in order to help those buyers who are seeking guidance on where to start their quest for home ownership. 

***If you live an area other than Northwest Mississippi, the process could be a little different.*** 

The best guide is your LOCAL REALTOR®.  

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About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS.  Copyright©  2009 by Pam Simpson.  All rights reserved...***First Time Homebuyer Guide - Part 3***

FOR BUYERS:  Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates,
First Time Homebuyer Guide

FOR SELLERS:  Pricing, Selling Tips   

LOCAL COMMUNITY INFO:  Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS:  Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

REALTOR STUFF:  NAR, Real Estate and Media, Real Estate Agents

OTHER:  Rural Life, Breast Cancer Awareness, Angel Food Ministries, Property Rights, Auctions

 Disclaimer:  All information provided by this author may be  based on information collected from several sources and is believed accurate but not guaranteed.