Tips for First Time Home Buyers

Everyone on the planet experiences “firsts.” Whether it be something small like your first drink, to something more intense like finally accomplishing a career goal, firsts have the ability to make us feel uneasy. Normally those feelings subside after we accomplish or experience these moments. Confidence naturally comes after the fact! Many humans would attribute getting through these moments with someone by their side. Whether it be a mentor, parent, or friend being surrounded by supportive people ensures our success. That’s the heart behind this month’s blog. I want to help you successfully buy your first home with as little stress as possible. Here are my top 3 tips for my newbies in the housing market.

Tip 1 Educate

If I’ve learned anything in reality it’s don’t assume anything. When multiply people and professionals are involved you want to make sure you can understand what’s going on around you. Get familiar with the words used when buying a home and come prepared to ask hard questions to make sure you are properly cared for. The more you know the better!

Tip 2 Budget

I’ve seen many first-time buyers get overwhelmed with all the costs they didn’t consider when planning to buy their home. Making a solid budget before buying will help make sure you can afford the house and not become “house poor”. Look at your bills, things like student loan payments, car payments, utilities, groceries, add it all up and figure out what kind of mortgage payment you can afford. This budget will keep you focused on your hunt and will guarantee continued satisfaction once you buy. Oh and don’t forget about closing costs!

Tip 3 Pre Approval

You’ve heard me say this one a few times by now. Pre Approval is key! Find a broker or bank you’d like to work with and figure out exactly what finances you have available to you before going out to look at homes. So many clients get disappointed by not doing this. Do yourself a favour and get this done ASAP!

BONUS TIP

Hire a realtor. Hire a realtor. Hire a realtor.
Yes, I’m biased! I just can’t stress the importance of having a professional guide you through one of the biggest purchases of your life. You will never regret having a great realtor on your side. I bet you’ll be recommending them to your friends and family when they need them. Don’t believe me? Just give me a call and see what happens 🙂

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