4 Questions First Time Home Buyers Need To Answer!

So, you think it is time to buy your first home.  Here are four questions as a new home buyer you should answer even before looking at your first property.

1. HOW WILL YOU PAY FOR THIS?

    Single or married, it does not matter; before you think about buying you have to take a hard look at your finances to determine how much house you can afford.  You will want to make a list of your income and expenses to determine a comfortable mortgage payment.

    You can do this by getting pre-approved from a mortgage lender.  Shopping around for the rate and terms is in your best interest.

2. WHO WILL REPRESENT YOU?  

   Statistics demonstrate that most people begin their search for a home via the internet long before they decide to buy.  Those early searches help buyers see what the current market has to offer. A real estate professional can help you navigate showings, negotiate on your behalf and manage paperwork.  

   Be a wise buyer and interview several real estate agents before selecting the person who will assist you in making one of your largest financial investments.

3.  WHAT DO YOU WANT IN YOUR DREAM HOME?

   This is your moment to explore what you want in a home.  How many bedrooms, bathrooms, with or without a garage.  What style of home - ranch, Cape Cod, modern or contemporary?  Will it be move-in ready or will it require a little TLC from you? 

   It is important to be realistic in your expectations and what you are able to afford.  Your real estate agent will work with you to guide you in this regard.  

4.  YOU FOUND THE HOME...NOW WHAT?

   Congratulations, you've found your dream home.  Now your real estate agent will help you prepare an offer.  He or she will continue to negotiate the terms and potential counter offers.  When you have agreed on everything, you'll  deposit your earnest money, arrange for a home inspection and appraisal, secure financing and order home insurance and a home warranty.

 Your agent will be there with you throughout the whole process - between offer and closing - to keep you moving forward and on track.

Answering these 4 questions will go a long way in making your home buying experience enjoyable and fun.