Things You Should Know Before Becoming a Homeowner

Let’s take a look at a few things to keep in mind when purchasing your first home…

1. Your first home/starter home likely won’t be your forever home
   We typically see most families stay in their first home anywhere between 3-5 years.

2. Your agent doesn’t know anything about your financial situation!
   Anything related to your finances is privately kept with your lender.

3. Consider new construction homes.
   Contrary to popular belief, you don’t have to build from the ground up in order to live in a brand new home and many times, builders offer attractive move-in incentives.

4. Compromise is Key
   No home buyer wants to hear this, but no home will ever be absolutely perfect. Compromise is key, especially when it comes to buying your first home.

5. Pre-approvals don’t impact your credit score
   When you get a pre-approval done, a lender is simply running a credit check. A "hard pull" on your credit doesn't occur until the under writing process, which occurs once we are under contract on a home.

6. Refrain from looking at homes at the top of your budget
   When you search for homes at the top of your budget, you have little to no negotiating power when it comes to putting in an offer.

7. 98% of the time, using a buyer’s agent is free
   The only time you’d have to pay for your agent’s services is if you purchase a home where the seller isn’t paying a cooperating buyer broker’s fee, which is pretty uncommon.