{"id":50591,"date":"2021-08-10T21:30:37","date_gmt":"2021-08-11T04:30:37","guid":{"rendered":"https:\/\/www.movoto.com\/blog\/?p=50591"},"modified":"2022-04-19T22:39:31","modified_gmt":"2022-04-20T05:39:31","slug":"11-house-hunting-tips-for-first-time-homebuyers","status":"publish","type":"post","link":"https:\/\/www.movoto.com\/blog\/11-house-hunting-tips-for-first-time-homebuyers\/","title":{"rendered":"11 house hunting tips for first-time homebuyers"},"content":{"rendered":"

So you\u2019re buying your first home. Here are a few important things that all first-time homebuyers need to know before they wade into the market.\u00a0<\/span><\/h4>\n

Buying your first home can be both exciting and daunting. You might have lofty dreams of a dream home in the perfect neighborhood, but it\u2019s probably the biggest purchase you\u2019ve made in your life, to date. Once you start looking, it can be easy to become disheartened or frustrated, but armed with knowledge and the right attitude, you\u2019ll be able to navigate this experience and end up with the perfect home for you.\u00a0<\/span>
\nFollow these important tips when you\u2019re <\/span>buying your first home<\/span><\/a>.\u00a0<\/span><\/p>\n

1. Get a preapproval letter before you start to look.<\/span><\/h3>\n

Many <\/span>first-time homebuyers<\/span><\/a> think that they can start looking for homes and deal with getting approved for a loan after they find the home they want. The truth is that most <\/span>real estate agents<\/span><\/a> won\u2019t take you on as a client without having a letter confirming your <\/span>preapproval<\/span><\/a> and loan amount in hand. On top of that, sellers will definitely not consider your bid without one.<\/span>
\nYou can apply for loan preapproval (not to be confused with prequalification) through most lenders online. Once you get your documents in order, you\u2019ll receive a letter within 24 hours. But be sure you don\u2019t apply until you\u2019re ready to buy\u2014your preapproval typically lasts 90 days.<\/span><\/p>\n

2. Find the right agent for you.<\/span><\/h3>\n

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\nSome buyers and sellers flirt with the idea of buying or selling their home without the help of an <\/span>experienced real estate agent<\/span><\/a>. Don\u2019t make that mistake. Any money you think you\u2019re saving on commission fees will pale in comparison to the costs that will arise from your lack of experience.<\/span>
\nA good real estate agent has your best interests at heart and will work to get you into your dream home at a reasonable price. They know how to prepare an offer, what contingencies to include, and how to negotiate so you\u2019re taken seriously. A good agent will also help guide you through the process, knowing that as a <\/span>first-time homebuyer<\/span><\/a>, you will have a lot of questions.\u00a0<\/span>
\nIf you don\u2019t feel like your agent is representing you well, you\u2019re welcome to find another one. Don\u2019t contact a seller or their agent directly or show up unannounced. Not only is it unsafe, it also comes off as unprofessional and is a clear indication that you don\u2019t know what you\u2019re doing, which will give you much less bargaining leverage.<\/span><\/p>\n

3. Be aware of lending and market trends.<\/span><\/h3>\n

The real estate market can change at the drop of a hat. This is where the internet will become an invaluable resource for researching <\/span>market values and current trends<\/span><\/a>, providing crucial information that will help you decide whether or not to move forward with a particular property. Be sure to research:<\/span><\/p>\n