The first time we try or do anything can be scary. We have to take chances, do something we aren’t totally comfortable with and make a commitment whether it be in the mental or physical sense. For first-time homebuyers, this is the case. Having no knowledge on the topic prior, buyers can get nervous and scared about what to expect and what is expected of them.
While having the “first-time buyer” jitters is normal, here is a list of tips that can help give first-time homebuyers a peace of mind as they start the search for their very first home.
1. Create a “must-have” list
For homebuyers, the purchasing process is an emotional roller coaster. Without a good grip on the end goal, there can be some straying from the path of finding your first home.
Creating a checklist of what you will be looking for as you start your house hunt will allow you to turn to logic when faced between the emotions of deciding between different listings. On your checklist, have three columns:
- Must-have items (priorities)
- Preferred items
- Additional amenities and features that would be helpful to have
Be sure to share your list with your realtor. Also, it’s beneficial for you to take copies of the list to every showing and open house you attend. It will allow you to take a step back when it’s between a house that is OK but has all your must-have items and a house that you love but barely has any must-have features to it.
2. Talk to your realtor about financing
When it comes to purchasing your first home, there are so many different options on how to go about financing. Making sure that you’ve thoroughly researched all options and talked with your realtor to help make the “financial burden” of purchasing your first home not so heavy.
3. Read up on the neighborhood and schools
Don’t be afraid to ask your realtor about the neighborhood you are looking in and the schools zoned for that area.
The 2014 National Association of REALTORS® Profile of Home Buyers and Sellers reported that 29% of homebuyers stated school quality as something they considered important when looking for a home. About 22% said being close to a good school was a deciding factors in their purchasing their home.
And while living near a good school or in a good district might cost you a bit more, if you ever resell your home it will help be able to boost the price.
4. Think about buying for the long term
When you’re looking into buying a home, make sure to hire an inspector that will be able to find problems that you wouldn’t notice as just an average homebuyer. Ask your realtor for a referral. This will help to prevent long term problems from arising as well.
5. Negotiation is essential
This is where having a realtor is essential. But just because it is the first-time you have bought a home doesn’t mean you should go in unaware of what is too much for an asking price.
There are three essential factors when it comes to the negotiating the purchase your first home or any home for that matter: having the needed information, preparation and staying optimistically realistic. .
Buying a home for the first time can be scary. But when you take the proper steps to get to the end goal of your dream home, it makes the entire process a whole lot easier and worth it.
Coldwell Banker Berger Real Estate
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At Coldwell Banker Berger Real Estate, we want to make your first-time purchase a walk in the park.