The angst of being a home buyer multiplies tenfold if that buyer happens to be a first-timer. The mixture of excitement, tension and doubt are a constant during the process for any first-time buyer. Knowledge is power and the buyer should gather as much information as humanly possible before the pursuit of a home. There are a variety of avenues a buyer can use to amass the necessary intelligence that will make buying a home much less stressful. A Home Buyers Seminar would be one source or picking the brain of a real estate agent can help clarify the concept of buying a home. There are a number of online methods that can be beneficial. After gathering some insight, it’s now time to get serious.
Lender And Loan: The sequence of buying a property starts with choosing a lender. This task will ultimately determine your financial responsibility for the time you own your home and should be treated as the most important element in the process, outside of the property itself. There are thousands of lenders and even more loan options. You can’t interview all of these lenders, that’s time-consuming and not essential. I would suggest consulting with at least five or six lending institutions before selecting the lender that will approve and finalize your loan.
Property Search: As a first-time buyer, you have spent money on rents and assisted someone else with their mortgage payments without the benefits of any tax write-offs. Just as you shopped for the best loan, use that same strategy in your search for a property. Decide what part of town you prefer to live and start visiting weekend open houses. Have your realtor make appointments for homes that are not held open. Touring several properties will give you a better indication what amenities intrigue you and gives you a better idea how much home you can purchase in that area. You will know when the right home comes along because of your assiduous approach. It’s imperative that buyers have a whole house inspection after the offer has been accepted. This gives the buyer peace of mind that they have bought a property without major defects.
Buyer To Seller: A first-time home buyer should anticipate owning their home a minimum of five years. A buyer might consider abstaining from the purchase of a property if their plan is to own for less than that five-year period. Life is certainly unpredictable and the unexpected happens, but ownership should be sustained for a lengthy duration, other wise it might make more sense to rent. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs, join my professional networks on Twitter and LinkedIn and easy access to view local area homes for sale in Davis, California and the surrounding communities.