5 Stress Relieving Tips for First-time Homebuyers

Posted on Jun 15 2016 - 4:44pm by Housecall
#2

By Meghan Belnap

first homeMoving into a new place is both exciting and challenging, and that is especially true if it's your first time as a homeowner. Instead of allowing the process to overwhelm you, keep some tips in mind to help navigate through this exciting journey in your life.

Don't Proceed Alone

You don't need to take on the process of searching for and buying a home without assistance. Maintain contact with a real estate agent throughout the process. A well-qualified agent can assist you in searching for the perfect property.

Open Your Mind

Right now, you may have a list of all the features that you want in a house. You may have decided that you will only live in the community with the lowest crime rate and the best schools. Keep in mind that all of these desires cost money and you probably do not have an unlimited budget. Instead of maintaining such a myopic view of your new home, open your mind to the possibility of making some concessions.

Define Your Financial Ability

Opting for a pre-approval is a good idea so you know how much of a loan you can receive approval for. Once you obtain that amount, you might decide to spend the maximum amount. Doing so will likely prove uncomfortable for your budget. If you or your partner lost your job, you might not have the ability to keep your house at all. Try to start small with your first house purchase and avoid spending money beyond your means.

Take Your Time

Once you decide that you are in the right place to buy a house, you might be so eager that you rush through the process. Weigh the pros and cons of each house you look at. If possible, plan an adequate amount of time around the buying process to ensure that you have considered all your best options.

Prepare for Other Expenses

You need to find out if you are expected to pay closing costs upfront or if you can roll them into your loan. In some areas, the sellers will agree to pay for the closing costs. Not only do you need money for these expenses, but you'll also need to cover other costs that are associated with moving into a new house.

Buying your first home can be both terrifying and wonderful all at once. Be prepared to invest in a financial investment like this by hiring professionals and making smart decisions. If home is where the heart is, allow yourself the time and care in finding the best possible place for you and your family.

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2 Comments so far. Feel free to join this conversation.

  1. Kat Cavano June 22, 2016 at 2:49 pm - Reply

    What a great resource for those first-time home buyers who may be feeling the jitters! This is great for Agents to keep on hand to give to their clients who may be feeling this way.

    Plus, it goes perfectly with this list of resources and articles we put together for Agents to have to save them time and energy in explaining common issues their clients may have. Check it out here! http://contactual.ly/1td47LU

  2. Darrin Roseborsky April 29, 2017 at 7:41 am - Reply

    Hi Meghan,
    Exactly moving to a new place is really exciting and thrilling when it’s your first home. Buying a home of their own is the dream of many but in order to make the experience happy and best it is important to be prepared for the home buying process in advance even before searching for home. Start saving money, cut down on extra expenses, save for emergency situations, pay down debts, check your credit card score, take suggestions from friends and relatives, and contact a realtor to purchase the best home, for mortgage hire a licensed mortgage broker to get the best deal.

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