Common Concerns Of First Time Home Buyers
Like any other right of passage, buying your first home can be filled with drama and uncertainty (somewhere between your first date and having to give a speech in civics class). Left unchecked, such uncertainty may cause unnecessary anxiety AND missed opportunities. Let's take a closer look at common concerns of first time home buyers.
1) What if my family does not like it-- First time home buyers will often seek the guidance of a parent or other trusted family member. Having a second person to bounce ideas off of is a great thing. Seeking the approval of twenty family members is nuts. I've seen deals collapse because Uncle Earl did not like french doors. Be honest, are you "in love" with all the houses your friends and family call home? Nope. Is it necessary for you to be? Absolutely not.
2) Should I wait For interest rates to go down-- This has to be my favorite. In my career I have seen rates bounce all over the place. Trying to time the rate wave just right is impossible. Does the home meet your needs, wants, and budget? If so, sign the contract. If not, let's keep looking.
3) I want a house like the one I saw on HGTV-- You know, granite counters, hardwood floors, professional landscaping, etc... That home exists on TV. You live in reality. The good news is you can add most of these features overtime, when the budget allows.
4) Am I married to the home when I sign the contract-- A buyer recently walked in my office looking like he had seen a ghost. Since my building is over 100 years old, such is possible. Come to find out he was nervous about "buying a house today". The relief was instant when I informed him he was not buying a home today, but rather writing an offer.
5) Should I back-out if something comes up on the inspection report-- There are times when you should run for the hills in response to an inspection. Killing the deal in response to inspections is not the norm. Consider a home inspection like a health checkup. Rarely are people given a 100% all clear, usually there is an area or two of concern. Most contracts I write do make it past inspections.
Thanks to internet horror stories and "reality" TV, it's no wonder why first time buyers are a little apprehensive. Take a deep breath, relax, and follow the process step by step in escrow. In Louisiana, there are plenty of safeguards in place to protect the home buyer.
Getting ready to buy your first home in Alexandria, Louisiana? If so, call Bayou Properties Realty (318) 613-1994 today. We are here for you every step of the way!
Comments(5)