Rule #1- Get Pre Qualified. For a first time home buyer this is the most important rule! “When buying a home you never want to put the horse before the cart” Getting a pre-qualification from a licensed mortgage broker is always the foundation for purchasing your dream home, this will ultimately give you the biggest amount of leverage over a seller and in most cases a requirement of making an offer on a home.
Rule #2 –“Location, Location, Location” So cliche but so true but its been said so many times that people don’t think about it, so we changed it up a bit. Always, always find the best neighborhood you can, even if it means buying less of a house. You can improve the house, but it is nearly impossible to fix major problems in a neighborhood.
Rule #3 – Hire a Great Team. Buying a new home (new to you, anyway) gets more complicated all the time. If you don’t have the best advisers in place, you’ll run into endless problems. Luckily, one good professional can lead you to others so the task gets easier and easier.
Rule #4 – Imagine Selling the Home. As a first time home buyer, approaching the big decision, take yourself forward in time to when you’ll eventually be selling the home. What things will you have to “apologize for” when you go to sell it? If the home has problems now, can you fix them over time so they won’t be problems when you go to sell the home?
Delroy Gill – RE/MAX Professional, Certified Distressed Property Expert
Dear property Virgin,
There is no need to be overwhelmed during your home buying process. I am here to provide you with expertise to get you from A to B right on time.
I will provide the education and facts that you will need to know about, on our real estate journey ahead for this first time home buying experience. You have come to the right place, it s very important to select the right agent and lender.
Asking as many questions that make you (the buyer) feel comfortable is quite normal as the real estate market can be a complex one if you have never been through the process of buying a home before. RESEARCH: There are many sites and and real estate calculators that can give you a a good rough estimate of how much you can afford to spend on your first home purchase verses renting a property.
Its definitely a buyers market, rest assured that you have made this amazing life changing experience at the perfect time. In addition there are low interest rates and many buying opportunities right at your fingertips with instant equity. As your guide I will coordinate all of the complex processes that are involved when purchasing a distressed property and take the necessary follow up measures for banks that take a long time to accept an offer or approve a short sale.
Let your emotions guide you but let your head lead you as this is a competitive market and offers are sometimes approved on a highest or first come first serve basis.