Navigating The Market As A First Time Buyer

Being a first time home buyer can be scary, or it can be exciting. The key is to be prepared. 

How? Your very first step is to get pre-approved for a mortgage. You need to have a realistic budget so speaking with a lender will give you an exact idea of what you can afford to spend. It also prepares you for the moment you find that perfect home and need to submit an offer right away. At the same time, make sure you set aside money for your down payment and closing costs. Each deal is different but there will be expenses, so keep that cash stored in the bank.

Once that’s all set, it’s time to start the house hunt. Keep an open mind and know what you want. Often times buyers think they want one neighborhood but ultimately buy in another. So make a list of your “must have’s” for a house, the things you’d like but don’t need, and any deal breakers. Does it need to be close to your office? Do you need a pool? Are you ok with doing some renovations? These are( just some questions to consider.

And remember the one thing you can never change is location - so pick an area you’ll be happy in that will also be a solid investment. Try and hit up lots of open houses (don’t just rely on online photos) and familiarize yourself with the market. The more educated and informed you are, the less daunting the experience will be.