Like any big project, a successful home buying experience is all about getting the details right from start to finish. These tips for first-time home buyers will help you navigate the process and close the deal!
Choose a Real Estate Agent Carefully
Why?
A good Real Estate Agent will scour the market for homes that meet your needs and guide you through the negotiation and closing process. Here is a few steps you should always take to ensure you are picking the right agent.
o Get agent referrals from other recent home buyers
o Interview at least a few agents
o Request references
When speaking with potential agents, ask about their experience helping first time home buyers in your market and how they plan to help you find a home!
Right Type of House & Neighbourhood
It is always best to weigh the pros and cons of different types of homes, given your lifestyle and budget.
One option to consider is buying a fixer-upper – a single family home in need of updates or repairs. Fixer uppers usually sell for less per square foot than move-in ready homes. However, you may need to budget extra for repairs and remodeling. Think about your long term needs and whether a starter home or forever home will meet them best. If you plan to start or expand your family, it may make sense to buy a home with extra room to grow.
Check out potential neighborhoods thoroughly. Choose one with amenities that are important to you, and test out the commute to work during rush hour.
Stick to Your Budget
One option to consider is buying a fixer-upper – a single family home in need of updates or repairs. Fixer uppers usually sell for less per square foot than move-in ready homes. However, you may need to budget extra for repairs and remodeling. Think about your long term needs and whether a starter home or forever home will meet them best. If you plan to start or expand your family, it may make sense to buy a home with extra room to grow.
Make the Most of Open Houses
Online 3D home tours have become more popular amid the COVID-19 pandemic. These tours let shoppers virtually walk through a home at any hour and observe details that regular photos don’t catch. They don’t supply all the information in-person visits do — like how the carpets smell — but they can help you narrow the list of properties to visit.
Open your senses when touring homes in person. Listen for noise, pay attention to any odors and look at the overall condition of the home inside and out. Ask about the type and age of the electrical and plumbing systems and the roof.