Buying your first home is both exciting and scary. You may be feeling anxious, excited, nervous, or even downright terrified. It’s natural. A home is the most expensive purchase that most people will make in a lifetime. At Black Bear Realty, we work hard to make sure the home buying experience for all our clients is easy and educational, and most importantly, that it results in securing the best home for you and your family.
Here are some things you can do to help us, help you.
- Get Your Financing in Order. Before you look at any houses, you should know what you can afford. That means getting your credit in good shape and talking to lenders to find out exactly how much money you are approved to borrow. Pre-qualified is just the first step. To be in the strongest position when you make an offer, you should have a pre-approval letter from your lender. Your agent will include this in any offer you make on a home.
- Shop Around for the Best Mortgage. It’s important not to settle for the first lender you talk to. Just like shopping for a car, you should shop for the lender who has the best terms for you and your financial situation. Don’t know how to get started? Check out this article, “Best Mortgage Rates From In-Depth Reviews.” It was just published by ConsumersAdvocate.org in April 2020 to help buyers like you choose the lender and type of mortgage that is most advantageous for your situation.
- Once You are Approved, Don’t Make Any Major Purchases. You don’t want any surprises; neither does your lender. Once you’ve been pre-approved for a mortgage, you need to make sure your credit stays exactly where it was when you got approved. That means no big vacations, no new cars, no new furniture — no major purchases of any kind. Sure, you can buy groceries, go out to dinner and pay your bills, but don’t do anything to significantly change your debt levels.
- Make a List of What You Want In A Home. Write out a list of the things that you want and the things that you need in a new home. Share this list with your agent right away so that they know exactly what you are looking for.
- Keep Good Notes: Your agent is going to keep solid records of the homes that you see. However, you should also keep your own notes as you view houses. After each home, share what you liked and what you didn’t like with your agent. You may change your mind on things as you see more properties.
- Stay Positive: Maybe the most important tip for first-time homebuyers is to stay positive. Even after you have found the home that you want, made an offer, and had it accepted, the process of closing the deal can sometimes take longer than you’d like. If you’ve looked at several houses and still haven’t found what you want, stay calm. Trust your agent and keep looking.
Ready to get started?
Give us a call today. If you are ready to seriously start shopping for a home, Black Bear Realty is ready to help.