5 things first time home buyers should do

5 things first time home buyers should do

Buying real estate can be intimidating for some and many questions may come to mind like, how do I know when it’s the right time to buy? How do I get pre-approved from a lender? Who can I trust to help me with the process? The list of questions can go on. We created a small list for first time home buyers to be used as a guide.

1. Create a Budget

This should be the 1st thing you do before moving forward. Create a solid plan and figure out what you can spend before you start browsing, it’s critical that you draw up questions such as, what is the most you can afford? What is your price range? We recommend using a mortgage calculator to help you get started. Determine the maximum monthly payment you can afford based on the price of the home after a down payment, and over a 30-year-mortgage. It’s important to note that you should include maintenance costs when searching. If it becomes too high just continue with your research.

2. Think of you and your family (Lifestyle)

This may sound like a big duh but you would be surprised how many people forget to think about the lifestyle they wish to live when searching for a home. What features will hinder your well being and what would enhance it? Think of things like, having garden to nurture, a big backyard for the kids, A neighborhood with a popping nightlife etc. Explore the market, go to open houses even those that may be out of your budget. This will help you get a better understanding of the different features/lifestyle a home/neighborhood can offer, which will help you reevaluate your list.

3. Find a great realtor

And you can always count on us here at Agent Prolific. We have a team of well educated and experienced realtors. A great realtor can make or break the home buying experience and no one wants to go through a long and painful home buying experience. We have contacts with lenders, remodelers , inspectors; hey you name it we got it. The most important attribute when choosing a real estate agent is his ability to listen to your needs which goes back to number 2 of the list. Its very important you come prepared to your agent that way he or she can knows exactly what to consider when researching properties.

4. Closing Costs 

Closing costs, which don’t include your personal moving costs, can vary widely. Typical closing costs include the hiring of a real-estate attorney to look over your buyer-seller agreement and a home appraiser to evaluate the home before the sale. All of these costs usually come from the buyer.

5. Educate yourself on the process 

The old advice about buying your first home is still true, these examples include – Save for a down payment of 20 percent, get your credit into a better shape and don’t buy more than you can afford. Make sure to have an emergency fund. Here are some good articles to check out to refresh your memory: Roadmap for a Successful Relocation, Should You Buy a Home Now?, 11 Tips for First-Time Homebuyers, Renting vs. Buying: The Realities of Home-Ownership, Pay Off Mortgage Early or Invest?


Recent Blog Posts

Stay up to date on the latest real estate trends.

NBC7 San Diego Current Real Estate Trends

December 1, 2022

November 2022 Market Update

November 17, 2022

Mortgage rates hit a 20-year high, knocking potential buyers out of the market. Is this another new normal?

October 2022 Market Update

October 19, 2022

The Big Story The Landscape has Changed Quick Take: Fewer homes are coming to market, and demand for homes has cooled as interest rates jump to a 15-year high, indicat… Read more

Selling a Tenant-Occupied Property

October 13, 2022

Introduction Regardless of whether it’s a sale or purchase, most real estate transactions are pretty complex. However, when dealing with a transaction that is tenant o… Read more

How Are Interest Rates Affecting Aspiring Home Buyers?

October 6, 2022

Whether it be interest rates or home prices, real estate has been a buzzing theme over the last couple of years. During the height of the pandemic we witnessed record … Read more

Housing market recession? Depends on who you ask.

September 26, 2022

The Big Story Quick Take: Home prices fell for the first time this year, declining 2.4% month-over-month, according to the National Association of Realtors®. The n… Read more

How To Enjoy The Ups & Downs of Real Estate

September 15, 2022

Imagine spending over 203 hours, 31 property tours, 27 offers and countless late phone calls to agents and your client giving your all. Delivering bad news time and t… Read more

Is the Highest Offer the Best Offer?

September 6, 2022

There is a popular misconception that the highest offer always wins the deal. Yes, in a few cases that may be true, but more often than not, the best terms can get you… Read more

Real Estate, Divorces, and a Pandemic…

August 3, 2022

Relationships were greatly impacted by the uncertainties of COVID-19 and many are now faced with the challenge of selling their joint property... Read our article for … Read more

Let's Talk

You’ve got questions and we can’t wait to answer them.