First-Time Home Buyers

If you are a first-time home buyer, use the guide below for helpful hints and tips and learn how to avoid common mistakes when buying your first home.

• Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home.
• Pre-Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You'll also avoid being disappointed when going after homes that don't meet the criteria of your loan. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.
• List of Needs & Wants: Make 2 lists. The first should include items you must have (i.e., the number of bedrooms you need for the size of your family, a one-story house if accessibility is a factor, etc.). The second list is your wishes, things you would like to have (pool, den, etc.) but that are not absolutely necessary. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.
• Representation by a Professional:It's important to have a real estate professional that is looking out for your interest. It's their job to make sure your interest are being considered and reprseneted. Whether you have a buyer's agent, or an agent that represents both buyer and seller, it's important to understand your options. Click here for (can we insert a link?) a copy of our office policy regarding agency.
• Focus & Organization:This area feels a little dated to me. How about:

1. Focus & Organization: When touring multiple homes, it's easy to lose track of which home had the features that you did and did not like. Here are a few tips to help you keep focused and organized:
2. When touring a home, take pictures and notes of the homes pros and cons on your want/must have list. When considering options later, this will help remind you of the items that were importannt to you.
3. Download our Tucker app (click here) for a customized home search that will let you search in specific locations, school districts, price range, and more. You can also sign up for auto emails to alert you when new homes come on the market.

• Visualize the house empty & with your decor: Are the rooms laid out to fit your needs? Is there enough light?
• Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? There are many houses on the market, so don't make a hurried decision that you may regret later.
• Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:

1. Include inspection & mortgage contingencies in your written offer.
2. Have the property inspected by a professional inspector.
3. Request a second walk-through to take place within 24 hours of closing.
4. You want to check to see that no changes have been made that were not agreed on (i.e., a nice chandelier that you assumed came with the sale having been replaced by a cheap ceiling light).

All the above may seem rather overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please contact us directly to discuss any of these matters in further detail.