First-Time Home Buyer, What To Know!
If you’ve never purchased a home before, you may have no idea where to begin when preparing to become a homeowner. With the crazy housing market, the real estate process can be overwhelming! These tips can help anyone feel a little more prepared for their first home purchase!
KNOW YOUR BUDGET
It is easy to begin scrolling through beautiful homes on the market without considering your budget. While looking can be fun and exciting, you should prepare financially before you start eyeing any homes. It is much better to know what your price range is so you don’t fall in love with a home you just can’t afford (for now!). Have a quick, informal conversation with a loan officer to start to better understand your budget.
MAKING A LIST, CHECKING IT TWICE
While you need to be realistic and recognize that you likely are not going to find a home with every single thing you wish to have, making a list of the things that are a priority for you (room count, big backyard, master walk-in closet, etc.) will help you to make sure you’re only looking at homes that will fit your wants and needs.
THAT BUTTERFLY FEELING
If you walk into a house and it feels like home, trust your gut. There is no better way to know if you should buy a home than seeing how you feel when you walk through the front door. Your home purchase will probably be one of, if not the largest, purchase you will make. When you know, you know!
NOTHING ELSE WILL DO
Keep your eyes on the prize but keep things in perspective! You may have heard of a champagne taste on a beer budget. You may have a long list of needs and wants when shopping for a home, but you may not necessarily be able to conquer that list at first. When you purchase your first home, you make your first step in your financial future. Purchasing a home builds equity which in turn builds wealth. Why rent and pay someone else’s mortgage when you could be paying your own? As you build equity, you can then upgrade into a bigger home, or pick-up an investment property, or possibly become “work-optional”!
THE BEST AGENT
The current real estate market is hot! Navigating through the process takes expertise and experience. A great agent will guide you through every step of the process, recognize your wants and needs, keep you within your budget, provide neighborhood sales and information, and above all, keep your best interest at heart. A good agent will also obtain off-market listings before they hit the market, giving you that competitive edge to win the home of your dreams! It’s all about the journey! ARE YOU READY??
If you’re looking for a real estate agent to help you find and buy your first dream home, contact Ellie Yung at 310-251-5428 or email at Ellie@EllieYung.com.