Hints for First Time Home Buyers

Hire a Real Estate Professional

The first step in buying a home is to select a professional who can help you find your dream home and fine-tune your financial expectations. Working with a buyer agent is worth consideration since he or she is legally responsible for representing the buyer‘s interest in a real estate transaction. Before making a decision, however, have a Realtor explain the pros and cons of using a buyer agent versus a sales or dual agent.

Prequalify For a Loan That Fits Your Needs

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Pre-approval for your loan is imperative when purchasing a home because your mortgage determines the price range you can afford, which is the first thing to consider when beginning your search. Furthermore, it allows you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and really can afford to buy the property.

Define What You Want

The next step is to create a realistic idea of the property you‘d like to buy. What features are most important to you? Make two lists: one of the items you can't live without and one of the features you would enjoy. Refine the lists as you house hunt. It is also helpful to search online to see what is currently available on the market. Your real estate professional can then show you houses that match your needs and wants.

Know the Features That Help Or Hurt Resale

In some areas, a swimming pool actually detracts from a home‘s value and makes it harder to sell. In neighborhoods with two-car, attached garages, a single-car or detached garage may impact the home sale and future value. Your Kimbal Logan agent can help you avoid the features in Southwest Washington homes that will potentially detract from the value for resale.

Visit and Rank the Homes You Are Interested In

After touring each home, write down what you liked and didn‘t like. Develop a rating system that will help narrow the field down. For example, pick the house you like best on day one and compare all other houses to it. When you find a better one, use the new favorite as the standard.

Write an Offer Once

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you've pinpointed the home you want, it‘s time to get serious about the financial and contractual side of the purchase. Your Kimbal Logan Real Estate agent will be a strong advantage when presenting an offer because you and the seller have different goals.

Arrange For a Home Inspection

After your offer is accepted, set up a home inspection. It‘s common to find problems, including leaky roofs, cracked walls, insect infestations and foundation problems. Your real estate professional can help find a reputable inspector, and will negotiate to get you the most for your money once the inspector's report is final. If you negotiate repairs as part of the purchase, ask for a “walk through” before finalizing the paperwork.

Close The Deal

Before your closing date, make sure you‘ve made all necessary deposits and completed the paperwork - including mortgage, title, homeowners insurance and any other paperwork required by local or state governments.

To learn more about successful home purchasing, contact us and schedule an appointment with one of our agents.