You’re thinking of buying your first home. After looking at a few homes, you wonder if it will ever happen: the swelling of your heart, romantic music playing as if on cue and a look between you and your partner that says, “This is it!” While this experience could very well happen (the music might be taking things a bit far), you need some first time home buyer tips to keep your heart from getting too far ahead of a wise investment decision.
At Dani Beyer Real Estate, there’s no desire to take the fun out of your home buying experience. In fact, we’re all about fun! Making a poor investment in a home is not anyone’s idea of fun, so here are some first time home buying tips to ensure your experience is satisfying all the way through until it’s your turn to sell the property:
Get financing secured before you start looking. It’s nearly impossible to nail your exact price range without a pre-approval letter from a lender. Otherwise, you might fall in love with a house that’s going to push your budget too far. Another risk you take in not getting pre-approved is that you might lose a house to another bidder that was prepared with financing.
Take a second look. Okay, so you managed to just barely hear an Elton John ballad when you first walked in the door, but now it’s time to get serious. Look around. Can your romantic music drown out the sound of a clanking old dishwasher? Maybe the pixie dust doesn’t quite mask the ugly linoleum in the kitchen or the broken sash on the dining room windows. Think about how you’d feel about the house if you’d been living there a while and company is coming for dinner. What’s going to bother you?
Make an offer. There’s a lot that goes into making an offer. Your realtor will examine comparable houses in the neighborhood to see if the asking price is reasonable, and market conditions may play a role in making the house more or less valuable than the asking price. If an area is in a growth trajectory, you may pay a little more and watch your home value continue to go up even within months of your purchase. What you can or can’t afford doesn’t have anything to do with the fair market value of the house.
Get an inspection. Securing a professional, unbiased inspection by a qualified company can help you determine whether the property is a good long-term investment. The inspector can tell you if there are any structural problems, whether there might be a safety issue with the way the water heater wiring is grounded or if parts of the house aren’t up to code. If there’s a major problem found, you’ll be glad you have a chance to renegotiate the price. Sometimes it’s necessary to simply walk away and find another home. Your realtor at Dani Beyer Real Estate will help you know if the deal is going south and it’s time to move on.
One first-time home buyer said about her experience with Dani Beyer Real Estate:
Dani and team was great in helping my husband and I buy our first home in a new state. They made the process easy and fun! We were able to find our dream home in just a short amount of time. And now as our family is growing, the team is ready and willing to help facilitate us in looking for another family home. I am excited to start another journey with Dani and team when we are ready to go!
For more first time home buying tips or to talk with one of our realtors about beginning the process of looking for your first home, contact us today!