Home ownership is the essential american dream! It's so important to understand the most basic steps required when deciding to make your first home purchase. Once you are serious about embarking on your journey to home ownership you should take note of the necessary steps to get you started. It is my hope that the first time home buyer steps listed below help better prepare you for your first home buying experience.
Pre - Approval -
Before beginning the process of seriously looking at houses, as a first time home buyer you should get pre-qualified for a mortgage. Doing so takes away the "can I afford this" and gives a vivid idea of what you should be shopping for. The last thing you want is for you or your spouse to fall in love with a home that you never qualified for in the first place. Getting pre - qualified may cause a little anxiety if you began shopping prior to approval. I say this because you've now emotionally invested yourself into all of those gorgeous homes that you looked at and you cannot imagine yourself in anything less. Avoid setting yourself up for disappointment before you even get started.
Realistic Budget -
Be honest with yourself. I'll be honest with you as I've said before I want all of the shiny things but I also prefer to live with minimal stress. In other words I know my lifestyle and I am well aware of what will and will not financially fit into it. In my humble opinion, budgeting should never be perceived as anything negative. It should be perceived as necessary. Your college buddies budget isn't necessarily your budget. However, it is great to be inspired! Home ownership is one of the best investments decisions that you can make. With that being said you know your current expenses, your take home salary and lifestyle so be real with yourself about it.
Representation -
It's no secret, knowledge is accessible. We live in the era of DIY, Google & Siri. All are great resources but every situation isn't the same. Also choosing the DIY approach will likely require searching many places to get the information needed. Our current era of accessible information sometimes presents us with the facade that we can be a jack of all trades. If life has taught me anything, no one is the jack of ALL trades. Trust your expertise but you should also allow a trained professional to assist you along the way of completing your first home purchase. You can start by looking through HAR (Houston Association of Realtors). Find my profile HERE.
Communication -
The home buying process can be very unnerving. It is totally okay to express your true feelings every step of the way. If you begin to feel anxious, overwhelmed, skeptical or just overall unsure you should keep your agent posted. It is so much easier for your agent to gauge and meet your needs when the lines of communication are consistently open. You shouldn't ever feel like you are bugging your agent.
Location-
Have a general idea of what it is about your preferred location that matters most to you. Is it the school district, neighborhood amenities, highway access, etc. Consider the area and places you frequent most in regard to your lifestyle. Utilize your time well by having a general idea of your location vicinity
Thank you for reading my very first "First Time Home Buyer Fridays" post here. I hope that you found some insight regarding what to consider and where to start. If you would like further information or have more questions please do not hesitate to reach out to me.
Toya Smith | Houston Realtor