Good news and bad news…I will start with the bad: Purchasing a home ranks in the top 5 of most stressful things you will do in life. Doesn’t that make you just want to run out and buy a home?! But remember, I said there was good news too: There are many things you can do to make your purchase much less stressful and the enjoyable experience it can and should be. Our first time buyers would help themselves out quite a bit by checking out some of these tips that should demystify the process and help you get as much out of it as you can.
- Really think about what your long term goals are and how a new home fits those goals. What type of home should it be? How will a mortgage affect your budget? What do you really qualify for – not what the bank will qualify you for on paper but add all those extraneous costs on as well.
- Search…a lot. There are tons of wonderful builders and many of them have beautiful models to look at – take advantage of that to see everything they have to offer. Get cost estimates for realistic pricing. Use New Homes Guide to know all the builders out there! Enlist help from realtors, friends and family. What style and options do you really need – put together your wish list.
- Realize that there is a lot of paperwork involved but understand that it is important and is there to protect both you and the seller. Ask questions if you are not clear on something before you sign. And above all – keep your copies!
- Talk to lenders and learn the best programs out there to suit your needs. Today’s mortgage market can be very challenging but if you start your search after having talked to a lender, you will be that much ahead of the game. Know that many builders have preferred lenders they like to work with and that’s not a bad thing – that lender will be very familiar with the builder’s practices and needs and be able to keep your loan on target.
- Have some fun! Don’t try to see every new home there is out there for you in one or two days. I can recall many clients walking into the model with that “deer caught in headlights” look because they have just seen way too many homes, everything is starting to look the same and they were just not happy. Take pictures or write notes as you’re visiting models so you can remember the highlights of each place.
Hopefully, these tips will make your adventure a little bit easier. As always, you can send us questions if you need some help! Email me at email@example.com and allow me to be your new home search assistant!
Happy House Hunting!