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1. Set the correct expectations. Take out a blank piece of paper and write out your wish list.<\/br> – Dulce Monahan<\/a> 6. Have a budget. It may seem like a no-brainer, but you’d be surprised how many first-time home buyers don’t know how much money they have to spend on their new house.<\/br> – Walter Black<\/a> 11. Don’t forget that rent is a variable,; it will likely be much higher five years from now. <\/br> – Daniel Locascio<\/a> 15. Interest rates are still low. <\/br> – Tatiana Guila<\/a> 23. Choose the property according to your needs.<\/br> – Nefer Londono<\/a> 29. Do not look for a home for the amount you are qualified to buy with your mortgage agent. Ask him to tell you how much you can buy based on the mortgage amount you are comfortable paying every month. <\/br> – Charles Miltenberger<\/a> Source: Flickr user Tax Credits<\/p><\/div> 40. Know any state-level financing incentives or regulations.<\/br> – George Stapleton<\/a> 44. Remember that besides the mortgage payment you will also pay for your home insurance and the property taxes. <\/br> – Ann and Robert Gephart<\/a> 51. Hire a real estate agent who understands your concerns and educates you. Ask this agent questions throughout the process so that you better understand the entire process.<\/br> – Carol Manning<\/a> 55. Work with a Realtor and be sure that Realtor represents your interests, not the Seller.<\/br> – Marty Martinez<\/a> 61. A good Realtor can help you navigate the process while providing you expert guidance and advice.<\/br> – Zilkia Martins<\/a> Set Your Expectations 1. Set the correct expectations. Take out a blank piece of paper and write out your wish list. – Dulce Monahan 2. There is no such thing as the perfect home, but there is a home that is perfect for you. – Sheena Weatherly 3. Make sure you know what you want before starting the buying process. – Ashly Haley 4. Be prepared! Have a list of your \u201cwants” created, and all your financial documents lined up with the lender so you know how much buying power you really have. – Stacey Rider 5. Be patient and […]<\/p>\n","protected":false},"author":2,"featured_media":20372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-20161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-tips","post--single"],"yoast_head":"\n
\n2. There is no such thing as the perfect home, but there is a home that is perfect for you.<\/br> – Sheena Weatherly<\/a>
\n3. Make sure you know what you want before starting the buying process.<\/br> – Ashly Haley<\/a>
\n4. Be prepared! Have a list of your \u201cwants” created, and all your financial documents lined up with the lender so you know how much buying power you really have. <\/br> – Stacey Rider<\/a>
\n5. Be patient and realistic when looking for your first home. It is important to find a home within your financial position at the time of purchase. Remember, your first home most likely won’t be your last.<\/br> – Kyle Seyboth<\/a><\/p>\nHow Much Can You Afford?<\/h2>\n
\n7. Figure out your personal budget to determine how much you can truly afford, then get pre-qualified and compare the amounts. Use the lowest of the two.<\/br> – Jorge Fernandez<\/a>
\n8. Purchase a home that you can afford.<\/br> – Reynalda Chavez<\/a>
\n9. Keep your mortgage within your budget and find a neighborhood that has amenities that will fit your needs.<\/br> – Daniel Sompolski<\/a>
\n10. Protect yourself: Get pre-qualified for a mortgage so you don’t spend more than you can afford for a home.<\/br> – Anthony Leone<\/a><\/p>\nConsider if It Is Better to Rent or Own<\/h2>\n
\n12. The real estate market has made it cheaper to own than rent. <\/br> – Darryl Williams<\/a>
\n13. Know the trade offs of renting verses owning.<\/br> – Ajay Jagga<\/a>
\n14. When considering your price point, start with the amount of rent you are paying now, not necessarily what the bank\/mortgage company says they will loan you.<\/br> – Debra Grog<\/a><\/p>\nEducate Yourself on Local Market Conditions<\/h2>\n
\n16. Buyers have to be aware of market conditions.<\/br> – Margoth Sinclair<\/a>
\n17. You will probably move in the next seven years, so make sure to think about resale value in the near future. <\/br> – Barry Krupp<\/a>
\n18. The market hit its bottom last year. So far, this year’s prices are up by about 10 percent since last year’s and home values are continuing to increase. <\/br> – Martin Miller<\/a>
\n19. The market is shifting, so you have to be aggressive with your home search because properties are selling quicker with multiple offers.<\/br> – Alice Green<\/a><\/p>\nLearn about the Buying Process<\/h2>\n
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\n20. Do not get too emotional about the house until escrow is closed. Things can go wrong during the offer submitted through close of escrow. <\/br> – Wenny Gunawan<\/a>
\n21. Do your homework!<\/br> – Cheryl Melomet<\/a>
\n22. Don’t get hung up on price. The question should be: Does this purchase improve your living?<\/br> – Bill Miller<\/a><\/p>\nHow to Choose the Right Home<\/h2>\n
\n24. The most important thing when buying a home is location, location, location!<\/br> – Jeffrey Fairchild<\/a>
\n25. Love what you buy. <\/br> – Anita Zubov<\/a>
\n26. When you feel the feeling of finding your dream, act quickly.<\/br> – Jay Talenda<\/a>
\n27. Take the time to search for a home that suits you and meets your personal\/financial needs. <\/br> – Carlos Armas<\/a>
\n28. Buy the “most house” that you can comfortably buy, and, even perhaps, push yourself to the limit of your pre-approved amount. Thus, you will be satisfied with your purchase for a longer period of time. <\/br> – Charles Lipford<\/a><\/p>\nFind Out How Much Financing You’re Eligible For<\/h2>\n
\n30. Have a good conversation with a loan officer or mortgage broker to check all the options regarding financing.<\/br> – Ximena Alzate<\/a>
\n31. It’s essential to get pre-approved for a loan. <\/br> – Laurie Shapiro<\/a>
\n32. Know your finances and speak to a lender first. <\/br> – Sheryl Dicarlo<\/a>
\n33. There are a lot of opportunities out there for financing, no matter your credit score. <\/br> – Ronnie Sanchez<\/a><\/p>\nWhy You Should Get Pre-Qualified or Pre-Approved<\/h2>\n
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\n34. Have a buyers’ agent and a qualification letter from a mortgage company or bank. It’s very disappointing to see a home you can not afford and waste time, energy, and emotions. <\/br> – Lucretia Lehrmann<\/a>
\n35. Speak with a mortgage person to understand what you can afford. You will be so disappointed if you fall in love with a home outside of your price range.<\/br> – Kay Parker<\/a>
\n36. Get pre-qualified so that you know your buying power and limitations. Also don’t expect perfection out of your first home purchase.<\/br> – Cathy Allan<\/a>
\n37. Get pre-approval before your search for property. Due to the low inventory, it’s necessary to submit a pre-approval with an offer, and without it, you can possibly lose out on a sale. <\/br> – Patricia Moccia<\/a>
\n38. Be pre-approved. Having an approval in hand gets a buyer to the front of the line in making offers. <\/br> – Christina Jasso<\/a>
\n39. Use a trusted mortgage partner for pre-qualification before you start looking for a home. You may be looking in the wrong price range and wasting your time.<\/br> – Javier Zapien<\/a><\/p>\nAre There Any Incentives Available to You?<\/h2>\n
\n41. Learn about downpayment incentives. <\/br> – Andres Buitrago<\/a>
\n42. Get pre-qualified by a mortgage company prior to begin searching for a home and see what special programs are offered to first-time home buyers.<\/br> – Mary Ellis<\/a>
\n43. Thoroughly talk with a lender about your pre-approval process and programs available to you through grants and state bonds. <\/br> – Paulette Korr<\/a><\/p>\nMake Sure You Know about all the Expenses of Owning<\/h2>\n
\n45. Get educated on downpayment, closing cost, and what your new home payment will be.<\/br> – Adam Robbins<\/a>
\n46. Create a list of pros and cons associated with home ownership. Pros will include income tax deductions, building equity, etc. The cons include fears and disadvantages of home ownership\u2014which will most likely include maintenance responsibilities etc. These lists will help you reaffirm your decisions and will help put your fears into perspective.<\/br> – Noreleen De Mesa<\/a><\/p>\nHow To Choose a Real Estate Agent<\/h2>\n
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\n47. Ask to see past references. <\/br> – Kathy Worthen<\/a>
\n48. Choose an agent based on their knowledge, experience, and work ethic. Then allow them to guide you.<\/br> – Nick Boland<\/a>
\n49. Set a face-to-face meeting with your Realtor to discuss the home buying process. <\/br> – Mark Dimas<\/a>
\n50. Ask your friends and co-workers for recommendations for great local lenders and Realtors. <\/br> – Helen Hunt<\/a><\/p>\nWhat Real Estate Agents Do<\/h2>\n
\n52. Make sure you find an agent that educates you thoroughly about the buying process and the market, and that they then empower you to make educated decisions.<\/br> – Jim Holt<\/a>
\n53. Get a Realtor that explains the process and walks you through every facet of the buying process. This is critical to avoid costly mistakes.<\/br> – Luis Rocafort<\/a>
\n54. Make sure you like your Realtor and mortgage broker. We are here to help you find what they are looking for and hold your hand in the entire process. <\/br> – Mardjan Barimani<\/a><\/p>\nQualities of a Great Real Estate Agent<\/h2>\n
\n56. Make certain that you have a buyer’s agent to represent your best interests.<\/br> – Cynthia McKenna<\/a>
\n57. Make sure that whoever you are working with is someone you can trust and that will put your interests in front of their own. If they care enough, they will ask you lots of questions!<\/br> – Steven Pagano<\/a>
\n58. Be absolutely certain that you align with the right real estate broker and loan officer. A good real estate team will help a buyer purchase a home that fits well within their budget.<\/br> – Randy Schulenburg<\/a>
\n59. All Realtors are not created equally and should hire a professional, competent and knowledgeable Realtor that can explain the process. <\/br> – Alexander Vazquez<\/a>
\n60. Work with an agent close to or within your market area, as their experience on local market trends is invaluable. Also ensure that their agent is a full-time agent. <\/br> – Alfred Saiz<\/a><\/p>\nBenefits of a Real Estate Agent<\/h2>\n
\n62. Markets vary from one another and a good agent can give you local information based on experience.<\/br> – Fredy Gonzalez<\/a>
\n63. Work with an experienced Realtor in the immediate area. Out of area Realtors do not know the immediate market therefore cannot always provide detailed information about neighborhoods and market conditions.<\/br> – Sue Enos<\/a>
\n64. Find a Realtor that truly understands property values where you are shopping. They can assist you in establishing your offer price. <\/br> – David Berganski<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"