Are you a First Time Home Buyer and not sure where to begin?

Tips for the First Time Home Buyer

One of life’s biggest experiences is buying your first home. And although the experience is an exciting one, it can be overwhelming. If you aren’t sure where to begin, like many first time home buyers, keep on reading! The tips below are a sure-fire way to leave you feeling confident in your search and on your way to obtaining your goal of homeownership.

 
  • One of the first steps to being a first time home buyer is to get your financial house in order. Obtain your up-to-date credit information and make sure there are no discrepancies. Once you’ve made sure your credit is great, speak with a trusted mortgage lender. Your mortgage lender will help you obtain a pre-approval, which is a vital first step. You will have a better understanding of exactly how much home you can afford based on your budget. Your mortgage lender will also ensure you are educated on the expenses that are associated with owning a home.
  • Now that you are pre-approved, the fun begins… Searching for your first home! As a first time home buyer, you will want to explore the various options available to you when looking for the perfect place to call home. Many first time home buyers begin their search on-line. Did you know that you can search all homes available in Wilmington and the surrounding areas right here from the Buddy Blake website. Check it out!
  • Working with a buyer's agent is the best way to get sound advice on local neighborhoods and the types of homes available based on your budget and needs. Your buyer’s agent can also help you secure a great first time home at a fair price. For more information on working with real estate agents and the benefits it provides, watch this video.
  •   These are a few things to consider when choosing the your first home:
  1. Does the neighborhood meet your expectations?
  2. Will the home have the room you need for family growth?
  3. How is the job market in the area?
  4. How close are your favorite hot spots?
  5. Are their special loans available to you based on the area? Some areas are eligible for 100% financing
  • Once you find the perfect place to call home, all that’s left is to put in an offer! Again, working with a buyer’s agent can help you purchase your new home for a fair price. And since you have already obtained your pre-approval from your mortgage lender, the seller knows you are a serious buyer. By taking those steps in the beginning, your offer is more likely to be accepted and you are one step closer to homeownership! 

Many first time buyers are taking advantage of the $8,000 tax incentive by purchasing their home before April 30th, 2010. Click here to get details on the $8,000 tax incentive and find out if you qualify.

  

This first time home buyer shared with us her experience of buying her first home in Coral Ridge. Watch her testimonal video.

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