Are you a first time home buyer? Buying your first home can be an exciting, yet terrifying experience. There are many things you need to do and many things you should avoid. It is very possible to find affordable real estate properties on the market, but you must have your ducks in a row before you even begin looking. Here are several tips for first time I buy homes as is buyers that will help ease the anxiety and get you started in your new home...
Tip One: Analyze Your Needs and Priorities. Before contacting a real estate agent or broker, analyze your needs and priorities. Determine how much house you can afford. Save a down payment.
Tip Two: Open Houses Are An Important First Step. Many first time home buyers believe that they must attend open houses. But the reality is that many real estate agents and brokers are more interested in closed houses. This is because it takes less time to sell a property that has been closed. Open houses are a great way to meet other first time home buyers.
Tip Three: Build an Emergency Fund. Saving money is a key component to becoming debt-free. Real estate investments require a significant amount of money upfront. However, many first home buyers fall short because of insufficient funds to continue making mortgage payments. Establishing an emergency fund is an important part of becoming debt-free. Know who buys fixer upper houses in the area for more info!
Tip Four: Get Pre Approved for a Loan. Most lenders require borrowers to have at least a 3% down payment, so real estate buyers may need to save for several years before they can get pre approved for a loan. If you plan to close a short sale, then you can get pre approved without a lot of money upfront.
Tip Five: Locate Valet Parking Facilities. While most real estate agents think that providing valet parking for buyers is a liability, some do not agree. Find a company that provides quality valet services at affordable prices so that buyers can park their cars without worries.
Tip Six: Install Lautz Kabel Light Strobe. Lautz Kabel lighting fixtures are not difficult to find. In fact, you can find a great deal on a used or new one at major home features retailers. Installing a lautz light system on your home features is a great way to enhance curb appeal.
Tip Seven: Have a Home Inspection. Doing a thorough home inspection is important even if it is the first time you are conducting a house buying transaction. A thorough inspection will help ensure that any home features you purchase will be worth the price. Many home buyers experience problems with purchasing homes because they did not do proper research. You should also consider having a home inspection performed if the transaction is going through a broker as the transaction could involve multiple lenders.
Although these seven tips may seem small, they can make a huge difference when it comes to saving money when it comes to buying a new home. Saving money on any home purchase is important if you want to be able to pay down your mortgage in a reasonable amount of time. The best way to find out how much your mortgage will cost you is to get a free home inspection and compare home loan rates online before the closing date. Doing so will help you narrow down your search to a lender that will offer the lowest interest rate. Be sure to check out this website at https://www.youtube.com/watch?v=p4jDkUBAZX0 for more info about real estate.