So you want to buy your first home, how exciting!
Becoming a homeowner has many benefits but the process can be overwhelming. Where do I start? How do I get a mortgage? What will my payments be like? How do I find the right house? These and many more questions can all be answered by having the right Realtor on your side.
Working with first time buyers has always been a favorite of mine. I don’t know who is more excited on closing day, my clients or me. I believe that educating my clients about the process before getting started is so important. It can be scary but knowing what to expect, how everything works will make it easier, and more enjoyable. I want this to be fun for you!
Here is a fun fact- as a buyer, you do not pay commission! As part of having their home on the MLS system, sellers agree to pay the buyer’s agent commission. So you get my full support for FREE, what could be better than that?
What is the first step you need to take? Getting a pre-approval for a mortgage. This will determine what price range you should be looking in so that I can set up a personalized home search. Being pre-approved is also necessary to write an offer on a home. This assures the seller that you are qualified to buy their home. You are always free to find your own lender but if you would like a referral, I can help with that. Having a lender that knows about first time homebuyer programs is essential. I work with someone who is very knowledgeable about what downpayment assistance programs are available and what qualifications are required to participate. Contrary to what many people think, you do not need 20% down to buy a home. In fact, by using a program and the right type of financing, some buyers are able to bring as little as a $1,000 to the closing table. Not so scary, right?
Other things to know about include how to schedule home showings, what to look for in the home, how much should you offer, what can be negotiated, why you need a home inspection, what is earnest money, what are the benefits of owning a home, and a few other items. I cover all of this when we meet for the first time. Want to know more? Call, text or email me to set up a time that works for you. It doesn’t take long, maybe 30 minutes. I promise you will feel more confident after we go over everything.
Kathy Doucette Real Estate