First time home buyers have a lot to learn as they go through the experience of purchasing their first home. If you are a first time buyer, finding the right realtor – one who specializes in helping first time home buyers – will make all the difference in the world. The right realtor will help you find the right home, and help you negotiate the right price.
If you are an inexperienced real estate investor, make sure to get some experience on your side. Your newly licensed cousin may be willing to work hard for you, and need the business, but you require someone who is knowledgeable about real estate to help you with your first home purchase. You need someone who will point out and explain all the various aspects of finding and buying a house because there will undoubtedly be considerations that don’t occur to you and processes with which you are unfamiliar.
As a first time buyer you likely have a ton of questions, and the first one might be; do I need a buyer’s agent to buy a house? The short answer is – yes, if you are smart!
As a first time buyer, you could miss a critical step along the way, leading to problems with financing, timing, legal issues, or even problems with the property chosen! Don’t let this happen to you – get some experienced help.
Before you get serious about looking for your first home, you should prequalify for a mortgage. Your Realtor can advise you about this and even recommend a mortgage broker.
Considerations when house-hunting that your Realtor can help you with include:
· What will affect the resale value of homes that I’m interested in?
· What should I look for when touring homes for sale?
· How do I decide between houses I like?
· How do I manage when I’m relocating from another city?
An experienced agent specializing in helping first time home buyers can also explain the real estate issues with which you may not be familiar. You’ll need to understand things like: Property disclosure, Amortization, Closing costs, and Conditional offers, among many others.
If you are a first time home buyer don’t go it alone. You risk making a mistake with what is likely the biggest investment of your life! An experienced realtor, even better, one who specializes in helping first time buyers can help you with the entire process, making sure that nothing critical is forgotten and that your first home buying experience is a positive one.
Rob Longo, Sales Representative ABR, GREEN, RSPS Magic Realty Inc. 805 N. Christina Street Sarnia, Ontario www.roblongo.ca www.magicrealty.com