Tips For First Time Home Buyers

1. Select a qualified and trusted real estate agent

The real estate agents at Adventure North Realty have earned a strong reputation for their knowledge, experience and professional service.  Our agents will walk you through the entire home buying process from showing you a variety of homes, to completing the necessary documents to close on your property. Please check out our testimonial page to learn about our agents and choose one who best meets your needs. We are confident you’ll be pleased with your experience.

2. Obtain pre-approval for a mortgage

There are a number of advantages to obtaining a pre-approval mortgage loan.

–  Having a pre-approval letter from your lender provides the home buyer with an edge in a multi-offer situation.  Sellers often prefer working with buyers who are pre-approved in order to avoid the threat of a deal falling through because a buyer may not be able to obtain adequate financing after an offer is made and accepted.

–  Becoming pre-approved for a mortgage enables buyers to determine how much money they qualify for prior to house hunting. The buyer can narrow down his/her search for a home in the established price range.

–  If a buyer is considering purchasing a foreclosure property, the bank (foreclosure property owner) typically will not consider an offer without a pre-approval letter.

3.  Identify your wish list vs. your must have list

Purchasing a new home is an exciting process with endless possibilities. However, depending on your budget, sometimes it’s not possible to get everything you wish for.  That’s why it’s important to determine what you want versus what you need.  Here are some things to consider:

–  Location: How close do you need to be to schools, shopping, work or public transportation?  Would you prefer country living to city life?

–  Home accommodations:  Some things are a must. If you have a larger family, you’ll probably need more bedrooms and bathrooms.  Maybe you prefer the washer / dryer to be on the 1st level, etc….

–  Your dream:  Sometimes at first glance, a house may not appeal to you. But if the house meets your basic requirements, remember that fresh paint, new flooring or a little redecorating can often turn that particular house into a dream home.