Being a first time home buyer is intimidating and a big life experience. Step one to being a first time home buyer is to get your financial house in order and make sure your credit is great. Once pre-approved for a mortgage, the home search process begins. As a first time buyer be sure to keep some things in mind before you choose. Is the neighborhood great? Is the area appreciating? Enough room for family growth? How is the job market in the area and how close are your favorite hot spots?
Defining Search Parameters for a First-Time Home Buyer
Almost 80% of all home searches today begin with searching the internet. With a few clicks of the mouse, home buyers can search through hundreds of online listings, view virtual tours, and sort through dozens of photographs and aerial shots of neighborhoods and homes. Ask your realtor to assist you in establishing a budget, neighborhood search criteria and schedule for prospective properties.
How Long Should It Take to Buy Your First Home?
Good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters. Currently, the market has been flooded with inventory and new homes go on the market every day. Your agent should preview homes before showing them to you as well because we know your time is valuable. Purchasing a home is the biggest investment you will make in your life. Make sure that you are comfortable with your choice and can see yourself living in the home you choose long term.
How Many Homes Will a Home Buyer See?
The average number of homes shown to a buyer in one day is 3-5. Any more than that, and home buying may become monotonous. Don’ expect to see 20 or 30 homes although you can certainly drive by them and weed out your least favorite by exterior appearance. Bring a digital camera and take photos of what you like and don’t like about each property. Take notes of unusual features, colors and design elements. Pay attention to the home’s surroundings. What is next door? Do 2-story homes tower over your single story? Do you like the location? Is it near a park or a power plant? Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest.
View Top Choices a Second Time
After touring homes for a few days, you will know which one or two homes you are leaning towards. Ask to see them again. At this point, your agent should call the listing agents to find out more about the sellers’ motivation and to check that an offer has not been accepted.