According to The J.D. Power 2014 Home Buyer/Seller Satisfaction Study, first-time homebuyers need clear communication and want to be walked through the purchase process every step of the way. The more seamless the experience, the less overwhelmed they're likely to be.
If you're thinking about or in the process of buying a home, you want to be satisfied with your agent but especially the home you choose to buy. Your agent should help build your confidence by educating you and working in your best interest.
Here’s what you can do to insure an easy home buying experience:
Shop around for an agent. Your friends, colleagues and family members who recently bought homes are good resources to get information on agents. They can also enlighten you about their experience of buying a house as well as their experience with their agents.
Be clear about what services you need. Just because you personally like an agent, doesn’t mean you have to hire them. Hire an agent that you feel best fits your needs, has knowledge of the area you are looking in, has realty experience and knowledge of the market. If you are relocating, make sure your agent has experience helping people relocate.
Hire someone with the knowledge of home you want to buy. There may be different rules to buying a condo versus buying a new construction versus buying a traditional house. If you have long term plans for your home, let your agent know, they may be able to help find a home more suitable to your goals.
Build a team. Your agent can help you find experts needed in the home buying process such as lenders who specialize in loans you are interested in and can qualified for, title and escrow companies, inspectors, appraisers and additional services such as contractors, moving and storage companies and handyman if needed.
Patience. With the exception of a few, buying a home can take months for most people. There are many reasons for the length of time it takes things beyond your agent’s control. However, your agent should be up on the current market explain why it’s such stiff competition. He or she should explain why the market changes may be effecting your ability to buy a home.
True costs of buying a home. This is true especially for first time home buyers. Ask your agent to breakdown the costs involved in buying a house, everything from the mortgage interest rate, HOA annual fees, property taxes, to all the cost involved in the actual closing. It’s not just how much your monthly payments will be but the total amount you will pay at the end of your mortgage as well as other out-of-pocket expenses paid prior to closing. Your agent can also tell you about expenses after closing such as renovation and regular maintenance.
Buy within your means. Keep in mind all the other expenses including in owning a home when you are calculating how much home you can afford. Remember you can always trade up if and when you are able to afford more home in the future.
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