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First-time
Home Buyers
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Whether you have
spent years saving and
preparing to buy a home,
or you still aren't sure if it is something you
can even dream of,
the questions surrounding a first-time home purchase can feel endless.
You can find the answers
and peace of mind
by working with The Fields Advantage
Realtorsฎ
LLC,
an industry leader in experience and service. |
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Tips:
Here are some tips to help you with the process of becoming your own
landlord. |
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Pre-qualify for a loan
Being pre-qualified for a loan determines how much house you can
afford. It also allows you to move more swiftly when you find the
right house, especially when you aren't the only interested buyer. |
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Shop for
mortgage rates and terms
A difference of even half a percentage point can make a huge
difference in how much you pay over the life of a loan. For example,
the difference in the monthly payment on a $100,000 mortgage at 8
percent vs. 7.5 percent is about $35 per month. Over 30 years, that's
$12,600. |
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Using a
buyer agent
A buyer agent is legally responsible for representing the buyer's
interest in a real estate transaction. Generally, the buyer agent is
compensated by the seller at the time you purchase a new home. There
are some limitations to using a buyer agent, however. Before you
decide, have a Realtor explain the advantages and disadvantages of
using a buyer agent. |
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Features
that help or hurt resale value
In some areas, a swimming pool actually detracts from a home's value
and makes the home harder to sell. In neighborhoods with two-car,
attached garages, a single-car or detached garage may impact the home
sale and future value. Your Realtor can point out features that hurt,
as well as those that help, resale value. |
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Rate the
houses you tour
After touring each home, write down what you liked and didn't like.
Develop a rating system which will help you narrow the field down to
the house that's the best for you. |
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