Home Buying Tips before Buying your First Home

Home Buying Tips before Buying your First Home

First of all, you need to weigh all pros and cons before buying a home.  And once that major hurdle has passed, you can now be focused.

Almost 80% of home buying tips come from the internet.  Aside from this, you can search through a lot of online listings, photographs (such as aerial shots of homes and neighborhood), and even virtual tours. Then, you should come up with specific goals and define what you want (like the home type and neighborhood you like).  Surely, by the time that you talk to your agent, you are already halfway to owning your home.

Scrutinizing the Physical House

If your real estate agent is good, he will listen to your needs and wants in order to arrange and show only the homes that will fit your defined parameters.  Also, your agent needs to preview the homes before you see them.

Don’t expect to look at 20-30 homes in one day.  Although you can physically do that, you might not be able to remember specific details and differences of each house.

Here are more home buying tips that you can follow:

•    Bring a camera and take photos of the houses.
•    Take notes of design elements, colors, and unusual features.
•    Pay attention to the surrounding neighborhood.
•    Look closely if you like the house location.
•    Rate each home that you see (a scale of 1-10 will do).

“Real estate agents should point out house defects and help the buyers feel confident that their search parameters and needs are fulfilled in the home that they want to buy,” says Elizabeth Weintraub who has 30 years of extensive background in the real estate industry.

Going through the Mortgage Process

To ensure a simple and smooth transaction, take these following steps if you’re applying for a mortgage:

•    Get your mortgage pre-approved first even before selecting a home.
•    Never make verbal agreements, only written ones will be honored.
•    Find a home and lock in your rate with your mortgage company.
•    Get professional home inspection to see if there are underlying issues that you cannot see.
•    Close on your home.

“Set up a closing meeting with your attorney and seller after you have reviewed all documents.  Then, make sure you posses all documentation and required checks.  And remember, don’t sign anything that you don’t understand,” this is from the home buying tips shared by Jason Bertrand (President of a Connecticut Corporation and has more than a decade of financial services industry experience).

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