10 Tips for 1st-Time Homebuyers

These 10 tips always lead to more questions from 1st-time homebuyers.  I am here to help!  Please call or email—no question is “dumb” when we are dealing with the single largest purchase of your life! 

• Get preapproved by a lender before you start looking.
  Listing agents need a preapproval letter before advising sellers to accept an offer.

• Don’t call the listing agent to make an offer on a home.
  You need representation for the negotiating process.

• Buy a house that fits your lifestyle.
  List your 5 top amenities, keeping in mind what you can add or change & what you cannot change.

• Keep RESALE foremost in mind.
  Don’t buy a house that has that one objectionable thing that can’t be changed that limits future buyers.

• Realize that you may have to pay a “fair” price for the home you want.
  Don’t always expect a lowball offer to be accepted because of the down market and what you hear from the media.  
  The home may already be listed very fairly.

• Check out 3 different lenders.
  Compare rates & closing costs carefully. Get a full understanding of the differences between FHA & conventional
  financing.

• Understand the importance of earnest money.
  Be prepared to put at least 1% down toward your new home when you make an offer.  

• Get a whole house inspection.
  Plan to attend the inspection so the inspector can carefully explain any issues with you. 

• Maintain, maintain, maintain!
  Help your home retain its value. You will never regret money spent on maintenance when it comes time to sell.

• Make home improvements that will appeal to the largest pool of buyers. 
  Think resale!