First Time Home Buyers

1. Figure out how much you can afford
What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate.

  • How much can you afford vs How much you want to afford
  • Buying vs Renting
  • Home Economics 101

2. Know your rights

3. Shop for a loan

4. Learn about homebuying programs

5. Shop for a home

  • Choose a Professional Agent and Interview Your Agent
  • Wish list – what features do you want?
  • Home-shopping checklist? take this list with you when comparing homes
  • Fixer-Uppers
  • Build a home– New Construction
  • (While interviewing your agent you should ask how many homes they have sold in the past 12 months, are they full time or part time, does their Firm offer any benefits to you for doing business with them and do they have a support staff that works with him/her or are they a one person office).  A lot of top producing agents have a support staff so you do not have to solely rely on one person.

6. Make an offer

  • Making an offer with a professional Realtor; This should be done with time and plenty of thought

7. Negotiate Your Offer

  • Negotiate Your Offer with your agent and get a great deal
  • Sign all documents and you now have an executed offer

8. Get a home inspection/termite inspection and Appraisal

  • For Your Protection Get a Home Inspection
  • You and your agent should schedule a termite inspection
  • Appraisal will be oredered; that should be coordinatied with your professional mortgage lender
  • After the inspection you and your agent will negotiate repairs

9. Shop for homeowners insurance   

                                 

Homeowners insurance

  • Lenders normally assist with this

10. Get ready to close and move in to your NEW HOME!!