5 Crucial Things First Time Home Buyers Shouldn’t Ignore
According to the National Association of Realtors, 41% of buyers rely on recommendations when choosing a real estate agent. Roughly 25% of buyers rely on the services of an agent to arrange the terms of sale. If you are planning on buying a new house, you may be wondering where to start. Read on to learn crucial tips for first time home buyers.
Before falling in love with your dream house, do a careful audit of your finances. Considerable upfront costs are part of the process of buying a new house. Ensure that you have emergency savings with at least three months of living expenses. Monitor how much you are spending every month. As such, you will know how much to allocate to a mortgage payment.
If you are considering getting a home loan, you will need a good credit score. Most lenders prefer to limit housing expenses to about 30% of your monthly gross salary. Real estate companies have different rates but the bottom line that is good credit will go a long way.
Buying a new house is a good idea, but not for everyone. As a home buyer, it is advisable to look through all the home choices you have before settling on a house. You have several choices when buying a home. From traditional single-family homes to condos, or multi-family buildings. Weigh the cons and pros of each of these options then settle on the one that best suits your needs.
It is advisable to seek the services of a real estate agent to help you make a well-informed decision.
Buying a house is perhaps the biggest purchase of your life, so you need to ensure that the house you buy meets your unique needs. From big details such as the neighborhood to smaller ones like the kitchen layout.
About 90% of real estate agents advise homeowners to invest in landscaping before selling. Real estate agents understand that the features of a home are important to home buyers. Turf Magazine reported that beautiful and attractive landscapes increase home values by about 11.4%.
Suitable Real Estate Agent
The process of buying a home can be quite frustrating if you don’t have someone to rely on. A reliable real estate agent will advise and protect you from the pitfalls you might encounter during the process.
A real estate agent will also help you deal with the paperwork which can be a daunting task to handle yourself.
If you intend to buy an existing home, it is important to inspect it, so hire a professional to do it. You will be assured of the safety, quality, and overall condition of your home. You will further be saved from the agony of doing unexpected repairs.
If the home inspector finds serious defects, you can withdraw your offer and look elsewhere. Alternatively, you could make an arrangement with the seller to do the repairs.
The more knowledge you have before buying a new house, the easier the process. The above tips will go a long way in ensuring you get value for your money. If you are looking for a reputable real estate agent in Los Gatos, contact us today.