The First-Time Buyer’s Checklist: Your Foolproof Guide to a Stress-Free Experience

Jordan Stephens Real Estate Team
Published on March 31, 2019

The First-Time Buyer’s Checklist: Your Foolproof Guide to a Stress-Free Experience

If you’re a first-time home buyer, there are some essential steps that you can educate yourself about to find the house you love at a price you can afford. Here’s what you’ll have to prepare for before you start house hunting, along with some helpful tips to make your first home buying experience a positive one.

Get pre-approved for a mortgage

Before you start searching for your potential new home, you’ll want to make sure that you have the finances and documents you need. Ask your bank or mortgage broker about getting a pre-approval, where they will verify that you have the credit score and information you need to proceed. You’ll also want to avoid taking out any significant loans after you get pre-approved and right before you close the deal on your new home. This will help you avoid any issues that could arise by incurring further debt.

Know what you’re looking for before you start house hunting🏡

When you know details of the house you’re searching for, such as the specific location, number of bedrooms, and style of home, you can pass this information on to your realtor so that they can do the work for you. Your realtor can provide you with options that match your description so that you don’t have to resort to blindly attending nearby open houses or searching online. Becoming an educated buyer also allows you to work with your realtor to make quick, informed decisions that you feel confident about when it comes time to make an offer.

Explore your insurance options 🔍

Inquire with your insurance broker to get an estimate of insurance costs to find out if the location you are moving to will affect your quote. It’s important to ask about not only the cost of home insurance, but how the cost of different types of insurance might change after you move in. For instance, the location of your new home could significantly increase the rate of your car insurance. If you prepare for this change in cost ahead of time, you won’t be shocked by increased rates that need to be paid on top of home insurance. When exploring these options, budget wisely: consider the amount that you’ll need to pay both up front and in the long run. Determine that after insurance costs, you’ll have the finances for a down payment as well as other miscellaneous costs that add up quickly, like legal fees, moving costs, and renovations.

Choose the right Realtor👨‍💼👩‍💼

Find an agent who is trustworthy and understands your needs. To find a reputable realtor, ask others for referrals and learn about their satisfaction and overall experience with the realtor you’re considering. Feel free to browse through testimonials from our valued clients here!

Purchasing a home for the first time can feel like an overwhelming task at times. But with this checklist and guidance from professionals, you can feel confident and informed while navigating through the buying process. Now, you’re ready to fully embrace the experience of becoming a new homeowner.

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