If you’ve been thinking about buying your first home, you’ve probably been experiencing lots of different feelings and emotions. Doubt, confusion and excitement tend to top the list. The home buying process can be daunting, particularly for first time home buyers, but it’s important to keep things in perspective.
Tips For First Time Home Buyers
Step One
Take a deep breath.
Step Two
Recognize that timing the market “right” is almost impossible. Let that idea go. Just make sure the timing is right for you and the rest will fall into place.
Step Three
Speak with a local lender. It’s important to understand your financing options and your purchasing power BEFORE you start looking at houses. You might not be able to afford as much as you thought you could. You might be able to afford more. If you need lender recommendations, let me know. I’m happy to share my resources.
Step Four
Recognize that buying a house (like most things in life) involves compromise. Sometimes you have to compromise with the person you’re buying the house with. Sometimes you have to compromise with yourself. But something’s generally got to give, whether your price cap is $300,000 or $700,000. The first home you buy might not have a water view, but it could have a great backyard or an awesome two car garage instead.
The goal of the exercise is to make sure the home has all of your “must haves” and as many of your “nice to haves” as you can afford. Understanding the difference between a “must have” and a “nice to have” makes things a lot easier.
Step Five
Make sure you’re working with a Realtor who knows the market and knows what they’re doing. Don’t just assume that they do. Ask them questions to make sure. If you’re working with a Realtor you trust, the doubt and the confusion will diminish, which leaves more room for the excitement.
Step Six
Enjoy the excitement.
Mark Pinto is a top-producing Realtor with Windermere Chambers Bay, specializing in residential real estate in Tacoma, Gig Harbor, University Place and Lakewood.
Mark Pinto: (253) 318-0923
MarkPinto@windermere.com
