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  • Writer's pictureJoseph Gunerman

5 Tips For First Time Buyers

  1. Build the best a team around you! Finding a local agent who works with a ton of first time buyers is a good first step. You'll want to both build trust, and also ask them what they're going to do to add value throughout the process. Perhaps more important is finding a local lender who specializes in the loan type that you need. Like agents, there are so many mortgage lenders, and finding one who can combine great service with the lowest rates is crucial! If you surround yourself with a great team, they'll make the process feel like a piece of cake

  2. Get pre approved before your first showing! There is NOTHING more demoralizing than walking a buyer into their unexpected dream home, and them not being able to buy it because they aren't pre approved for financing. The pre approval process is fairly quick and easy, and it's the best way to get the home search process under way

  3. Beware of hidden costs in a home! This is an area where your Realtor should really be helping you. While it's important to look at the kitchen and bathrooms, feel the vibe of the house, and figure out if it fits your lifestyle, it's equally important to figure out what costs may come with owning that home. Focus on the age and condition of these items: HVAC, water heater, windows, landscaping, roof, and appliances. And be on the lookout for every agent's arch-nemesis - signs of moisture and mold in the house!

  4. Get a home inspection, and attend it in person! A home inspector is not only a great resource for uncovering any hidden costs or problems in a home, but they will also teach you how to use your home. They'll walk you through important home maintenance strategies, teach you how to turn utilities on and off, and make you aware of anything crucial you should know about your home before purchasing it.

  5. Don't try to time the market! We all want to buy when prices are the lowest, or interest rates are the lowest, but trust me the market is EXTREMELY hard to predict and time. Find a home you love, with a monthly payment that feels comfortable, and if you intend to live there for more than 5 years, buy it. Buy real estate and wait, don't wait and buy real estate!

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