7 Tips for First Time Home Buyers
You can save thousands and remove the stress and anxiety from the home buying process with a little preparation.
It can be easy to fall in love with a new home or a new-to-you home without knowing the actual condition of the property. When you’re making one of the most important decisions of your life, the last thing you want is to make a costly mistake. That’s where Patrick Robison can help keep your mind at ease and keep you protected from buying something that will come back to bite you in the pocket book!
1. Hidden & Expensive Surprises
This goes for financing and the properties you look at.
You will want to know how much downpayment you need and can afford. If you are getting an FHA loan, you will need to ensure that you are under a certain debt to income ratio. Also, you want to make sure you don’t make any major credit purchases or changes when you are about to get pre-approved.
Your realtor will work with you to determine potential issues. Make sure your agent understands the importance of a proper home inspection and knows to look for other potential pitfalls. For example, missing or broken shingles, musty odors, leaks around plumbing or toilets, drafty windows, leaks or damage to furnaces or air conditioners, etc.
2. Get Pre-Approved
Your agent will have contacts for Mortgage Lenders who can help you get pre-approved.
It’s important that you meet with them and find out all the documentation you need, Once collected, you can set up a meeting with your lender and they can start the process.
Your loan officer should be able to explain everything you need to know including up-front costs, closing costs, and on-going costs.
If you are interested in purchasing in the future, but not immediately, Pat would love to meet with you to discuss the things you can do to prepare to be pre-approved in the future.
Timing is vital to a successful home purchase. Make sure you know when your rental lease is up if you are renting and if there are month-to-month options.
It’s possible the people selling the home may need more time. There are a lot of options and those should be discussed with your realtor.
Make sure you call well in advance for things like utilities, moving cable or phone services (if you still use those) and you may need to set up accounts with utilities you may not have used before such as natural gas.
4. Hiring The Right Agent
There are dozens of reason to hire an agent to help you buy a home. You want an experienced guide to help you navigate the entire process from start to finish and come out on top!
Buying a home can be difficult. It can be frustrating, or give you anxiety about the unknown. Pat will be your guide and give you the information, the tools, and the confidence you need. Imagine what it will feel like to finally push that key in the lock and walk across the threshold of your new home.
Even if you don’t use Pat as your guide, make sure your agent covers two very basic elements to every home buying process.
1. Being able to provide detailed local information that goes beyond just the potential re-sale value. Where are the local restaurants, essential services, schools and parks? What have other similar homes sold for recently? The more that your agent knows, the better.
2. You have the choice to hire an agent, or not to hire an agent. If you hire one, make sure they know how to go to bat for you. Make sure they have a team of vetted resources ready to help you when you need it. Do they know finance people, inspectors, cleaners, painters, legal, backflow testers, people at the city or county… make sure they are well connected. You don’t want to leave your future home in the hands of someone they’ve never tried before.
5. Save Money for Move-in Costs
Make to plan for moving expenses. What costs are involved cleaning up a rental or getting movers?
You will need money for purchasing things you need for your new home. Do you need curtains or shower curtains, rugs, floor mats, or other things that are size specific?
You may need money to hook up utilities and pay deposits or HOA fees.
6. Skip Cosmetics You Can Change Easily
When you are looking at properties, keep in mind that you can make a lot of changes to create your new home and make it your own.
An experienced agent like Pat Robison can help you determine what is cosmetic and easy to change.
Don’t take a potential home out of the running for carpet, flooring, or paint colors. Exterior landscaping details are often easy to change. Curtains and other non-permanent fixtures are easily changed, along with most light fixtures.
7. Stay Under Your Pre-Approved Budget
Your pre-approval budget is the most you can spend, so make sure you are looking at homes under your budget in case you need to negotiate a price. Then you will have some room to move. You need some wiggle-room in your budget to ensure a successful transaction.
Let Pat be your guide from Renter to House Hunter!
Get a home your entire family, or growing family can fill with love for years to come.
My husband and I got our pre-approval letter on a Friday and wanted to search for a home ASAP as we were about 8 months pregnant with out first child at the time.
We stopped in at Summa in Hillsboro on that following Saturday morning and were greeted by Pat.
He spent the time right then and there to find out what specifications in a home we wanted. He then lined up three viewings that same day, one of those viewings ended up being the home we purchased.
This being our first home purchase, we were very nervous regarding the process. Pat was always a phone call or a text away. He was so very helpful with putting in our offer as well as explaining the entire process.
The offer was accepted and we know are enjoying our new home with our daughter who was born about 2 weeks after we moved in.
I would not and will not hesitate to recommend Pat to any of my friends or family who are in the market for a home.Jessica from Hillsboro