Real Stories, Real People-First Time Home Buyers Tips
As a NJ Real Estate Salesperson, I encounter a number of couples, who like the first time home buyers in the video above, often think or feel that a 3 bedroom home in a town they desire is outside of their price range or even within their grasps, which is so far from the truth. I purchased my home in October 2006 and I remember wanting a bigger home; unfortunately though for me at that time, the 3 bedrooms, 2 baths townhouses were outside of my reach then. But not so much now. When you hear people saying home prices are the lowest they have been in ten years, I want you to believe them. It’s not a sales pitch. It’s simply the truth.
Buying a home has never been easier with low prices, low interests rates, a dollar for dollar tax credit and sellers who are more agreeable to negotiating. Yes, it is true that you have to qualify to buy a home with some skin in the game i.e. a down payment and decent to above average credit with a proven employment history or income, savings, rental history, among meetings other mortgage conditions.
What you should know is that Buying a home is as easy as following the 5 essential steps:
1. Getting pre-qualified first and know how much house you can afford even before previewing homes.
2. Take time to articulate your wants and needs and be prepared to compromise (not settled-but expect to make some improvements over time, especially if you choose a location or style of home that tends to have a higher price point).
3. Be patient as buying a home is a life changing decision. It is possible that you will have to make offers on several homes before any one of your offers is accepted.
4. Work closely with a real estate professional for Realtor(s) or Real Estate Agents have access to 90% of all homes on the market.
5. If you are interested in buying a foreclosed home or short sale property, speak with your agent first to full understand the pros and cons of these types of transactions.
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What a great article. As a recent first time homebuyer, I found these tips to be very helpful and we bought our first home. Thank you!