3 Useful Tips for First-time Homebuyers Trying to Navigate the System

Whether you're tired of renting, need more space or want to make an upgrade, buying your first home is the solution. However, if you have never participated in the market before it can be a bit daunting at first. Let's explore a few useful tips that are helpful for first-time homebuyers who are new to the process of buying real estate.

Tip #1: Begin With The End In Mind 

Before you start exploring local home listings and shopping around, it's worth asking yourself both what you 'need' in a home and what you 'want' in a home. For example, are you single or married? If you are married or are likely to be in the near future, are you planning on having a family? Will you need space for pets? What area of the city is most convenient for your commute? And so on. If you start by knowing exactly what you need, it will be that much easier to narrow down your options. 

Tip #2: The Market Determines The Value Of A House 

The second tip to keep in mind is that your local real estate market is what determines how much a home is worth. What you can afford has nothing to do with a home's value, nor does your opinion of its current condition. In some cities, homes will sell with the intention of being torn down after the purchase completes. 

Talk with a local real estate agent professional who can help you understand what the current market is like. If you are in a buyer's market, it might be the right time to make a move. 

Tip #3: Go Low, Start Slow 

Finally, when you're ready to make an offer, it should be one that is as low as possible without insulting the homeowner. Buying a house is not like buying groceries or clothing. The price isn't fixed and is certainly going to be open to negotiation. Conversely, you shouldn't be surprised if and when the seller makes a counteroffer against yours. The more you're prepared for a lengthy back-and-forth to hammer out a final price, the more likely you are to be successful. 

The above are just a handful of the many tips that an experienced real estate agent professional can share to help a first-time buyer navigate the process. When you're ready to buy your first home, contact us and we'll be happy to help.

Pay Your Mortgage Off Faster With These Money-Smar...
Speed up Your Mortgage Closing Process With This H...

Related Posts

 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Monday, 23 September 2019
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Please enter your information below if you would like to receive updates when new businesses join or when new specials are offered.  We will not spam you or give/sell your information to anyone. 

Subscribe to our mailing list

* indicates required
Email Format