Buying your first home is an exciting experience, but it can also be overwhelming when you don't know what to expect. Below are some tips to help first-time homebuyers navigate this process successfully.
1. Get pre-approved before you start shopping.
Nothing is more upsetting than finding the home of your dreams, only to learn that you cannot qualify for the loan needed to purchase it. Before you begin shopping for a new home, meet with a lender to request a pre-approval. The lender will review your financial situation and provide you with a pre-approved loan amount. Once you know how much you can afford to borrow, selecting the right properties will be easier.
2. Select the right real estate agent.
One of the most important things you can do to ensure that the process of buying your first home goes as smoothly as possible is to hire the right real estate agent. Be sure to choose a local agent who is familiar with your area. It is also a good idea to research your agent's background and experience, as well as to read reviews written by past clients so you will know what to expect as you work with the agent.
3. Don't overbuy.
When purchasing your first home, it can be tempting to choose a property at the higher end of your price range. However, adjusting to a monthly mortgage payment can be challenging. Make this process easier on yourself by selecting a property in the middle of your price range if possible. This will make your monthly payments more affordable, leaving you with plenty of extra income to buy furniture, make repairs or even save for the future.
4. Do your research.
Before purchasing any new home, be sure to do plenty of research about the neighborhood and the property itself. Ask your real estate agent to provide any insight they may have about the area and the property in question. If you have questions about the property, get the answers you need before you make an offer.
5. Ask for an inspection.
When you make an offer on the property you hope to purchase, you have the chance to request an inspection. Regardless of the circumstances, it is always in your best interest to take advantage of this opportunity. Be sure to read the inspection report carefully and consider any items that were found to be dangerous or defective.
Every first-time homebuyer feels a little anxious, but you can simplify the experience by following the tips above.
About the Author
Judy Szablak
With over 30 years in the industry, Realtor Judy Szablak has been on national television for her real estate expertise on the HGTV Network, featured on Martha Stewart Living Radio "Morning Living” , NPR radio as an expert real estate panelist, It’s Relevant News channel, and quoted in the Wall Street Journal for her in depth knowledge of Fairfield County Connecticut real estate.
She was also on the local NPR radio station (WSHU) as a Fairfield County CT real estate expert. Judy has provided multiple online respected news sources with her real estate expertise including The Daily Easton, The Daily Weston, The Daily Fairfield, The Daily Stamford and The Daily Greenwich, as well as in print in the New York Post. She is a weekly Real Estate Columnist for WestportNow.com, another real estate column "Real Estate With Judy” is syndicated through Hearst CT Media Online and seen in The Connecticut Post, The Danbury News-Times, The Stamford Advocate, The Greenwich Time, The Hour, Fairfield Citizen, Westport News, Darien News, New Canaan News and the Wilton Villager.
Judy is also the author of the book, The Art of Buying or Selling a Home, available at all major book retailers. Additionally, Judy has been nationally recognized in a number of national real estate trade magazines, some with distribution to over 1 million members. She was featured in Real Estate Today as early as 1994 for her commitment to, and implementation of technology in real estate. Judy appeared in the Certified Residential Specialist Magazine, as she provided advice on marketing strategies and ethics in the article titled "Marketing Makeovers.”
Judy was also featured in REALTOR® Magazine, regarding image enhancement for Realtors. She was again featured in REALTOR® Magazine, in an article on "Achieving Flow” and operating at optimal peak performance. In another article in the same publication, Judy offered guidance to fellow real estate professionals as she explored the topic of implementing and maintaining personal websites. She has appeared in The Council of Residential Specialists Magazine, which featured her ideas regarding technology. Additionally, Judy authored an article on marketing and technology for the Certified Residential Specialist (CRS) Online Magazine. On two occasions, in 2015 and 2017, she appeared as a featured agent in Top Agent Magazine. I have a few other websites- www.TheCtrealtyBlog.com www.CtHomesAndRealEstate.com www.BestWestportHomes.com www.ThePetitePowerhouse.com www,SzablakConsulting.com
