Do’s and Don’t for First Time Home Buyers
Here are some of the “Do’s” of buying a house from our expert DDR Realtors.
- Do know your credit score. This and your income determine your loan terms, the better the credit the better the terms.
- Do get preapproved for a loan. This sets the price point of your home.
- Do research and hire an experienced agent.
- Do your research on the neighborhood. Make sure it meets your living needs, such as schools, work proximity, amenities and other factors you may have.
- Do look at multiple houses before making your decision. You may believe at love at first sight, but with houses, you need to look at several before committing. You don’t want to overpay or miss a better opportunity.
- Do invest in a professional inspection. You don’t want any surprises after you buy the house and it’s too late.
- Do buy based on needs and not wants. Ideally, both can be met, but needs are much more important. Think of the future, what may work right now may not work for your plans or life changes later.
We also have a list of “Dont’s” to consider as well.
- Don’t overbid if buying at an auction. Bidding wars may raise the price well over market values. Know the value and stick with it.
- Don’t trust everything you read in a real-estate ad. These ads are designed to catch your interest and show the house in the best light. Words like “cozy” can mean small and “as is” may mean that a lot of work is needed. Do your research.
- Don’t change jobs until the purchase is closed, this affects final loan approval.
- Don’t be afraid to negotiate the process, your agent can help you with this.
- Don’t give up, this process can be a lengthy one, but is rewarding at the end.
If you follow these rules and work closely with one of our experienced and professional agents, you will find the home of your dreams.