TOP 6 TIPS FOR FIRST TIME HOMEBUYERS

PURCHASING YOUR FIRST HOME IS A BIG STEP THAT COMES WITH SOME VERY SERIOUS DECISIONS. BREAK THE HOMEBUYING PROCESS DOWN TO THESE SIMPLE STEPS AND FOLLOW THESE IMPORTANT TIPS AND YOU WILL FIND THE PROCESS LESS INTIMIDATING AND MORE MANAGEABLE.

1) BEFORE YOU BEGIN, ASK YOURSELF ONE QUESTION -- WILL YOU LIVE IN YOUR NEXT HOME FOR AT LEAST 4 YEARS? IF THE ANSWER IS YES, YOU SHOULD PROBABLY PURCHASE RATHER THAN CONTINUING TO RENT. THE MOST EXPENSIVE ASPECT OF REAL ESTATE IS THE BUYING AND SELLING. WITH AVERAGE APPRECIATION YOU SHOULD BREAK EVEN AND START TO SEE YOURSELF MAKING MONEY BETWEEN YEAR 4 AND YEAR 5.

2) GET PRE-APPROVED - PRE QUALIFICATION IS A VERY IMPORTANT STEP. QUALIFYING TO BUY A HOME IS PRETTY EASY AND RELATIVELY LITTLE WORK. THE  PROCESS ALLOWS YOU TO KNOW HOW MUCH YOU QUALIFY TO PURCHASE AND HOW MUCH YOUR NEW HOME WILL REALLY COST IN MONTHLY PAYMENTS. 

3) CONSULT A REAL ESTATE PROFESSIONAL ASAP - MANY FIRST TIME BUYERS AVOID CONSULTING A REAL ESTATE AGENT FOR ANY NUMBER OF REASONS. REAL ESTATE AGENTS HAVE AN ADVANTAGE OVER TRADITIONAL SALES PEOPLE BECAUSE THEY HAVE ACCESS TO THE MULTIPLE LISTING SERVICE.  THE AGENT DOESN'T SELL, HE OR SHE MERELY PRESENTS YOU THE OPTIONS AVAILABLE. 

4) MAKE A LIST OF "MUST HAVES" & "WANTS" - THE BEST WAY TO ORGANIZE YOUR SEARCH IS TO MAKE A LIST OF WHAT YOU "MUST HAVE" AND "WANT". EXAMPLES OF "MUST HAVES" ARE SCHOOL DISTRICTS, NEIGHBORHOODS, SIZE, & PRICE. THESE ARE ABSOLUTE NECESSITIES. EXAMPLES OF "WANTS" ON THE OTHER HAND ARE COLOR, KITCHEN APPLIANCES, SURROUND SOUND ETC ETC. DETERMINE YOUR NEEDS VERSUS YOUR WHATS.

5) PICK YOUR FAVORITE NEIGHBORHOOD - YOU CAN ALWAYS MAKE CHANGES TO YOUR HOUSE, BUT YOU CAN NEVER CHANGE ITS LOCATION. 

6) IT IS CURRENTLY A BUYERS MARKET.  THERE IS A LARGE INVENTORY OF AVAILABLE HOMES FOR SALE. TAKE THE TIME TO EXAMINE ALL YOUR OPTIONS AND ONCE YOU MAKE YOUR DECISION MOVE AHEAD WITH THE PURCHASE.