Top 5 Tips For First Time Home Buyers


Top 5 Tips For First Time Home Buyers


Buying your first home is a huge milestone!

It's an exciting time, but it can also be overwhelming. There's so much to think about and do. Where do you start? How do you know if you're making the right decision?

Here are 5 tips for first time home buyers:

1. Get pre-approved for your mortgage before you start shopping for your dream home.

You'll have a better idea of how much you can afford, and this will help narrow your search for both yourself and your agent. Many first-time home buyers make the mistake of shopping for their home before they have been pre-approved for a mortgage. This can lead to crippling disappointment if you find the perfect house only to realize that you can’t afford it. Getting pre-approved will give you an accurate idea of how much money you can borrow so that you can narrow your search to homes within your budget.

2. Work with a trusted mortgage broker / agent in order to educate yourself on the different types of mortgages available, such as fixed, variable etc.

This way you will feel confident in selecting a plan that best suits your needs.

3. Work with a real estate agent who has experience in the area.

A local realtor knows the area better than anyone, and can be your one stop shop during your purchasing journey!

Your agent can offer valuable guidance and answer any questions you have along the way. Once you've found a home that you love, it's important to remember that the listing price is usually just a starting point for negotiation. This is where your agent’s knowledge will shine. Your buying agent will work with the seller’s agent to negotiate a price point and conditions that leaves both sides happy.

4. Pay attention to your gut feeling when touring homes.

If a particular house doesn't feel like "the one," move on to the next one on your list. When considering purchasing a home, it's important to take the time to get to know the neighbourhood. Do some research online and then take a walk around the area at different times of day and on different days of the week. This will give you a good sense of what it would be like to live there full-time.

5. Have realistic expectations when shopping for your first home.

Before you begin touring homes, sit down and create a list of your needs and wants for your home. You may not always find everything on your wish list for the best price and location, so prioritize what's most important to you and be willing to compromise on the rest!

The process of buying your first home doesn't have to be daunting! By following these tips, you can approach it with confidence and peace of mind, knowing that you're making the best decision for yourself and your family.

Ready to get started? Give the Local Home Finder Team a call today.

We can’t wait to find you your first home!

Click the link to watch our Youtube video where we interviewed a first time home buyer, to share his experience of buying his first home & his tips for others looking for their first home!