2. 5 House Buying Tips For First
Time Home Buyers
Buying a house is one of the most exciting things that
can happen in one’s life. Whether we buy a newly
constructed property or a place that has already been
lived with, it’s always going to be one of the major
milestones of our lives. However, the process of
buying a house can be daunting at times; which make
it essential for buyers to go in the market with perfect
knowledge. So if you are buying a home and looking
for house buying tips for first time home buyers,
here is everything that you are looking for.
3. House Buying Tips For First
Time Home Buyers – Start With
A Mortgage
The first and foremost thing to do before buying a
house is getting approved for a mortgage. There is a
vast variety of mortgage programs for first time
home buyers: FHA, VA and USDA are few to name.
While getting approval, a mortgage lender helps you
determine what home is in your price range based
on your credit history.
4. Find A Realtor Who Knows
The Market
Once you get approved for the mortgage, find a
good realtor: One that knows the area and the
market. If you are struggling to find a trustworthy
realtor, get referrals. More than 50 percent of
buyers find their agents through personal referrals
or prefer an agent they’ve worked before.
The realtor you choose plays an important part in
making or breaking your home buying experience.
A good realtor is a great time saver, knows the
area and puts his client’s needs first. So choose
wisely.
5. Shop Around To Get An Idea
Of Pricing
This one is one of the most important house
buying tips for first time home buyers as many
buyers make the mistake of falling in love with a
property, which ultimately leads them to buying a
house, which, let’s say is not so perfect.
So don’t make the same mistake. Take your time,
shop around, get an idea of pricing and then make
your final move.
6. Get You Home Inspected
Once you have chosen a house, get it inspected
by a professional home inspector. If any flaws are
discovered, it will be seller’s responsibility to pay
for the repairs.
On the other hand, if the new owners fail to
discover any faults, move in, and then start
encountering problems with plumbing, electric or
air conditioning systems of the house, the previous
owners would not be responsible for fixing the
repairs.
7. Ask Your Real Estate Agent
About Closing Costs
Closing costs may vary from sale to sale, so
ask your agent about the expected closing
costs. Typically they include:
•Cost of hiring an attorney who looks over
your buyer-seller agreement
•Cost of home appraiser to evaluate the
home before sale.
8. Conclusion
These are some of the house buying tips
for first time home buyers. The bottom
line is, buying a house is probably going to
be the most significant financial investment
you will ever make. So don’t rush into the
process, take your time and make the
purchase when the time is perfect.