Top Tips For The First Time Home Buyer
Buying your first home is an exciting proposition for most folks. It can be both exciting and frightening at the same time. For most individuals and families just starting out on the process of buying a home, their lack of experience means that they have many questions and concerns. This is a natural feeling, since buying a home is one of the largest investments and something we don’t do every day. Getting those questions answered correctly is the key to making a great deal and getting started with home ownership. We at Winston Realty, Inc love working with first time home buyers buy great homes. Here are some things to consider now that you are ready.
When Should You Buy that home? – How do you know if the time is right to buy your first home? The answer isn’t simple, but if you have stable and steady employment, have saved money for a down payment, and have a good credit score, the time is now. Instead of paying rent every month, you could begin building equity in a home, making your housing dollar work for you, instead of just handing money to your landlord. Winston Realty can help you target your situation and determine what and where to buy.
How Much Should I Spend or Finance? – Choosing your first home should be based on your current employment and income. We can eliminate the mistake of buying more home than they can really afford. Making a realistic choice of the cost for a first home is important. One of the steps is choosing the correct price range for your particular situation. Right now, there are many excellent bargains in Palm Beach County and/or the neighboring cities.
What about Financing? – You may already have a good relationship with a bank or other financial institution. If so, that’s a good place to start. Make an appointment with a mortgage expert at your bank or ask us for a list of qualified lenders. They’ll help you determine how much you can borrow. The key here is getting that pre-qualified letter to accompany your offer when the property is selected.
What Special Programs are Available? – If you’re a military veteran, you probably qualify for a VA Guaranteed Home Loan. That can make financing your new home much easier. In addition, other government programs exist to assist first time home buyers in making a home purchase less expensive and simpler. Others to consider are FHA, HomePath, NSP or Conventional Financing.
How Do I Find a Good Agent? – Not every Realtor is interested in working with first time home buyers or has the patience needed to walk them through the complexities of buying a first home. You need an agent who enjoys helping new buyers. We specialize in working with first time buyers and who have the detailed knowledge needed to find creative ways to help them successfully buy a great first home.
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