Purchasing Your First Home
If you are purchasing your first home, the process may seem completely overwhelming and stressful. Where do you begin? Who do you call? I always recommend finding a Realtor® that understands your wants and needs and can help you navigate the entire process, thus relieving some of the stress you are experiencing. Talk to your friends or your family and ask if they know of a Realtor® they would recommend to help you with your new exciting venture to home ownership.
You will probably begin your search on the internet if you are purchasing your first home and there is no better place to look than the internet. With the numerous sites that exist today, you can easily sit in the comfort of your home and search and search and not feel pressured. If you know you are serious about purchasing your first home, I would highly suggest that you find a lender (your credit union, bank, mortgage broker) and speak with them in order to 1. learn about the various types of loans that exist (they can change from time-to-time) and 2. to find out exactly how much you can afford. There is nothing worse than falling in love with a home to later find out that you cannot qualify for that home, because it is beyond the amount a bank will lend you.
Once you speak to a lender and have applied for a loan, they can pre-qualify you. This is an important part of purchasing your first home because it not only lets you know that you CAN purchase, but it shows others (potential sellers home's that you may be interested in purchasing) that you CAN purchase their home. With pre-qualification in hand, contact a Realtor® perhaps one that your family, friends, or a coworker has suggested. Meet with the Realtor® and tell them everything that you are looking for in a home, what are you are not looking for, tell them if you desire a certain neighborhood, if commute time is important to you, and any other pertinent information. The Realtor® that you work with when purchasing your first home is typically paid by the seller. Yes, that's right...by the seller. That means the Realtor's® services to you are at NO cost to you. When you meet with your Realtor® for the first time, make sure to ask how he or she is paid and by whom.
As I stated when I first started this blog, purchasing your first home can be stressful and, at times, overwhelming. Why not hire a Realtor® to help relieve the stress? Your Realtor® will help you find a home that fits your needs and your wants. Your Realtor® will also suggest an offer price that is competitive to the other homes for sale (and those that have sold) in the area. Also, your Realtor® will help negotiate any closing costs that you may be asking the seller to pay or any repairs that you be asking for. Your Realtor® is an invaluable asset and you shouldn't go it alone, especially when purchasing your first home.
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