Buying your first home is an exciting deal for many couples, individuals, and families. It is a big milestone that can feel a bit overwhelming for many—where to start and how to even begin the process?
Everyone—from lenders and real estate professionals to family and friends—have an opinion on how to go about buying a home for the first time. Before you get lost in the details of how mortgage loans work or the sheer number of homes available for sale—stop and read these three tips to get your started before your really get started on buying your first home.
- Find yourself a real estate agent
We aren’t just biased on the issues as realtors ourselves. Having a realtor assist you during your first time through the process can make it much more manageable and less intimidating. A real estate agent is the primary source of, well, all things real estate. They will be able to provide you advice on where the ideal neighborhood is (one geared for families vs one better suited for social couples who aren’t ready to add to their family yet) as well as matching you with a lender, home inspector, or even a construction consultant (we have a vast network of professionals who work on or with homes to provide first time home buyers answers to any question or service for nearly any need). We also know which homes will sell fast, are priced too high, may have room for negotiation—and how to negotiate on the home you do want. As an added bonus, we often have access to homes that haven’t been listed yet, so there could be more potential homes out there besides what you see listed online.
- Consider where you would like to buy
Once you have a realtor, most of your questions can be answered, like “What’s next?” In our opinion, before we start showing you homes, you’ll first have to figure out where you even want to live. No point falling in love with a home that is 2 hours from your office or not conveniently located near your children’s school. So, your first task will be to pick the neighborhood—or at least the general side of town you prefer. We’ll go through a laundry list of needs to help you pick out a generalized area to start looking.
- Determine your deal breakers
Now that you have about where you would like to buy a home, next you should focus on what you would like out of your home. You’ll have to decide between what amenities are a must have, would be nice to have, and what should be completely avoided. Some things to consider are:
- Number of bedrooms and bathrooms needed at a minimum
- Size of the home you prefer or the type of floor plan (one story or two? Open plan?)
- Kitchen appliances
- Storage space
- Age of home, roof, and major systems
- Outdoor space—size of yard, patio, porch—and its usability
- If the yard is fenced in or not
- Whether you do or do not want a pool
- Move-in readiness vs willingness to perform a little renovation
- Garage or other outdoor storage
Now that you are off to a good start for finding your dream home, your next step is to figure how you plan to finance the home (and make sure your credit is ready!). Once your lender is secure, you’ll feel more confident when making your offer and then it’ll be time to move in! From start to finish, the Lieberman Team will be at your side helping you identify each new step in the process and how to cross that item off your home-buying checklist. Contact us today to get started on your journey to buying your first home.