Buying your first home is can be both exhilarating and a bit daunting. A home is one of the most rewarding purchases you will ever make in your lifetime, so it’s important that you get it right, especially if you’ve never bought a home before. Here are our five tips, from one of our top agents, on buying your first home:
- “The first thing to do when you believe you’re ready to buy a home is contact a Realtor® to get the process started.”
When it’s time to buy a home, get some help. The buying process can get complicated if you don’t know what you’re doing. An experienced Realtor® will save you a lot of time and headaches by guiding you through the buying process.
- “Contact a mortgage broker to get pre-qualified for a loan. This step will help you determine what you can afford.”
It’s important to know how much you can afford before you start looking for your home. Your mortgage broker will be able to tell you what your maximum loan amount is, and make suggestions on what price ranges you should stick to when you start looking. Ask your Realtor® for mortgage broker referrals, as the two will be working together to get you in your first home.
- “Your Realtor® will set up a search for you in the areas in which you are interested.”
There amount of websites that list homes for sale and their prices are almost endless. Don’t make the mistake of searching through them yourself. Your Realtor® will have access to homes that these websites don’t. Let your Realtor® know which areas you are interested in, and they will provide you with a list of homes within your budget in the area that you want.
- “You will start to see homes. Please know that this is a highly competitive market, so be prepared to see home as soon as they come on the market and also be prepared to compete with other buyers. We have seen some homes go under contract within hours of being listed for substantially more than asking.”
Because the market is so competitive in Colorado, it’s essential to have a Realtor® who can help you negotiate offers, stay on top of the ball when it comes to fast closing times, and support you in your search for that perfect home. Don’t let your inexperience in real estate get in the way of finding your perfect first home.
- “Once you are under contract, your Realtor® and mortgage broker will guide you through to a successful closing, or help you know when it is wise to terminate a contract.”
Shopping for and buying your first home is very exciting when you have the right Realtor® to help you through the process. Why make it hard on yourself? At Alaris Properties, we put our customers first, and go the extra mile to make sure our first time buyers find the home of their dreams.