Some Tips for the First-Time Home Buyer

Are you a first-time home buyer? If you are, surely you’d agree that it is not easy at this stage for you, a first-timer, to get the perfect deal; but with a few basic tips on some proven techniques, a first-time home buyer could successfully go through the buying process in a breeze and with minimal stress.

There are many avenues open to a home buyer for self-education about buying their first home. One of these is the internet. According to a 2002 Survey of home buyers and Sellers (released by the National Association of Realtors), the internet has become the primary source for every type of consumer for almost every type of product. Therefore, With the internet, researching for information about wisely buying a home is at everyone’s fingertips now.

One of the factors you should consider is the property’s proximity to the amenities of your choice of lifestyle. If you are the provincial type of person, you wouldn’t want to live in a place where the noise, traffic, pollution and the brand of tension that is characteristic of the rat race are prevalent. On the other hand, if you are one of “the rats who want to race,” you would want your property to be within the urban vicinity. Aside from the attractive higher market value of the property that one could bank on to increase in value, a reason of the first-time home buyer for this preference for the urban location is so that he would be able to save on time and transportation getting to where he needs to be most of the time every day.

If you’re a first-time home buyer, to make an intelligent decision, you must look at photos of homes for sale in the area you want and could afford, some architectural drawings/illustrations, floor plans, community information, and property descriptions. A prospective home buyer should not hesitate to contact builders directly and/or arrange to be taken on open-house tours with his real estate broker.

It’s always good to ask a lot of relevant questions. Formulate the questions you want to ask so you won’t look like a fool feigning to be wise. Write down your questions and valid concerns, then contact the seller’s representatives to answer every question you have regarding the property, as well as to inquire about the different modes of payment available to you.

Do an ocular inspection of the property you’d want to purchase — that’s the smartest way to go about it. If you have a partner, make it a point to take him/her with you so you could decide on this matter of choosing your potential home. This will help you determine if you’d need to renovate or repair or spend on anything to make the place livable to your taste — these are things you can use to bargain the price down to a more manageable level.

Determine your financial limits and find out if you could afford the place on your current financial status or, if not, if you could pre-qualify for a mortgaged loan. The smartest way to go would be if you could convince the seller to enter into an owner-financed deal with you. This would provide you with a convenient mode of payment plan without the superfluous fees to pay for.

With the advent of Internet technology, the real estate industry has evolved to something that could give the most beneficial option open to you, and make tips and steps available to every home buyer, first-timer or not. With the many existing expert tips, a first-time home buyer may find it less daunting to venture into buying a dream house.