First-Time Home Buyer Tips

House Hunting

• One out of five consumers will be actively looking to buy his or her first home, and 46% millennia's will be looking in the next year. If you're a first time buyer, the mere thought of securing a mortgage may be overwhelming. For most, a home will be the largest purchase you will make and it can be the best investment you make.
• Once you begin the hunt for your house, you should have a basic idea of the kind of neighborhood you would like to live in. Depending on what neighborhood and if you’re looking to buy a hot property, consider the fact you may have to move quickly, or potentially lose out on a great house in a great neighborhood. We’ll think positive and say that won’t happen though because you’re an action taker.
• Real estate never sleeps, and when looking at a house, you should have a wish list on the top 4 to 5 things you want in your new home. Every house will not be perfect, so you must be willing to compromise with that extravagant list of yours, HAHA!...just kidding. While on the hunt, don’t be so quick to judge a book by its cover. You will be surprised at what will be on the inside of some of the houses you will be viewing. Trust your realtor’s judgment and go inside and look around before making a decision.
• All properties will not be in great shape, and the ones that are will not be on the market for long. Keep in mind that while looking, you’re not just finding a place to live but your new home will be a great investment with the accumulated dollars down the road. The best places to invest are up and coming areas that have great schools and convenient shopping.
• While on the hunt, keep in mind that sometimes you have to see past what you may think is junk and look at the potential in the property. Remember this is an investment! If you go to a home once and you love it, allow yourself a second visit to go through and look. The first visit has a lot of excitement and emotions and you may miss something the first time around.
• Consider foreclosures because they sell at discounts, but you'll have to act fast depending on the area and you'll need the expertise of a real estate agent that specializes in foreclosures. It also pays to first get a mortgage pre approval letter from a lender before hand.
• Also, consider condos. The average condo costs less than the average single family home, they require less maintenance and many complexes offer amenities like gyms and pools. All which can very attractive if these are some of the things on your list.
• Its important to weigh your options. Consider the pro's and cons of you living in a single-family home, townhome or a condo. What is going to fit you and your lifestyle or you and your families lifestyle? Keep your options open and allow your realtor to broaden your outlook while on the hunt.

 "If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know it when you find it!" Happy Hunting!!