Tips For First Time Home Buyers
July 31, 2017
in Buying Tips
So, are you ready to take the plunge and buy your first dream home?
Buying your first home can both be tiring and exciting at the same time. In this article, we will list the best tips for buying your first property.
Know How much You Can Afford:
There is a very famous saying, “Look before you leap”. It is highly advisable to first get a clear idea of your financial constraints. Set up a meeting with a professional mortgage firm and decide on how much you need to pay.
There are also some government programs for first time home buyers. Discuss and see what are the different programs or loans you qualify for and understand their terms and conditions.
You should also understand the different payment options, how much you are going to pay as down payment etc. Also, make a note of the additional expenses you will incur like moving and packing,
Getting a pre-approval must be high on your priority list. With pre-approval, you actually get an assurance from the lender. With this sure commitment, you also become aware of the range of the home you can afford to buy. This will also save you from disappointments by going for houses which is outside your range. By getting pre-approved sellers too see you as a buyer who is genuinely interested.
Make a List Of Your Needs: Now that you have sorted out the financial aspects, you should sit with your partner and agree on the type of house you need. Write down the facilities which are absolutely necessary. These are the minimum criteria your house should meet. Also, make sure of the localities that your first priority. Next, add to it, things which you would like to have but you can also do without it.
Hire A Real Estate Agent
Now is the time to hire a trusted real estate agent in Edmonton. You might be tempted to do it all by yourself but there is no substitute for an experienced professional. However, you should see that you hire a buyer real estate agent who exclusively works for you- the buyer. You might have to sign a contract with the agent to work with the agent for a fixed interval of time.
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