There are many things for first time homebuyers to get caught up in when it comes to finding the perfect home. I want to make sure you are prepared for the home buying process so you can avoid common mistakes that rookie homebuyers may make due to lack of experience.
If you are a first time homebuyer who is struggling to find the right home you may be overlooking great homes that may have small fixable problems. If you are like most first time buyers you are looking for a move-in ready house that needs no work. However, you will come to find in a low inventory market compromises sometimes have to be made. There are great houses on the market that may have a few cosmetic blemishes that could either be painted over or replaced. There is nothing wrong with having high standards but remember that most cosmetic changes can be easy and cheap so don’t overlook homes that may need a little sprucing up.
There are many benefits of buying a home instead of renting but it is important to fully understand the true cost of homeownership. Simply comparing rent prices to listing prices is not a good idea as there are many costs involved in obtaining and maintaining homeownership besides the monthly mortgage payment including: the down payment, closing costs, insurance, taxes, moving costs, home furnishing and appliance costs, maintenance costs, etc. Determining how much house you can afford is my area of expertise and I am available to help you calculate your budget and issue you a pre-approval letter to give your purchasing power a boost.