Buyer Tips

Essential First-Time Home Buyer Tips and Tools

Buying a home is a big step. It is probably the biggest investment you will ever make. It can be stressful to say the least. Clark Team Realty is here to help. Here are some tips and tools for first time home buyers to take some of the stress and mystery out of the home buying process. As always we are here to help, contact us with any questions or concerns you may have!

Tips for First-Time Home Buyers:

1. Get your finances in order!
Get a copy of your credit report and make sure it is correct! This is a huge part of your ability to get a Mortgage and a reasonable rate. In general 35% of your score is based on Payment history and 30% of your score is based on Amounts Owed, 15% is based on length of credit history, 10% is based on New Credit and the last 10% is based on types of credit used.

2. Get Familiar with the Mortgage Industry
Finding the right loan and lender is crucial to your home buying success. Use our mortgage calculator to understand how much house you can afford. And, contact us for a great mortgage company referral.

3. Get Pre-Approved for a Mortgage
A pre-approval helps you in the negotiation process. When a home seller gets two similar offers and one is accompanied by a letter from the buyer’s bank that states that they are pre-approved for a mortgage in the amount of the offer, the seller is more likely to consider the offer that has been pre-approved.

4. Know Your Wants and Needs
The home buying process will go a lot smoother if you get familiar with your real estate market and narrow down your wants and needs before you start looking at houses. Do a home search online to see what is available in the areas you are interested in.

5. Learn to Work with Real Estate Agents
Real estate agents represent buyers, sellers, or both. They are there to help! Use their understanding of the market, homes and the home buying process to get the house you want at the price you want. Learn about Buyers Agency or contact us.

6. Handle Pre-Offer Tasks
We always take into consideration the features of a home when deciding whether or not we want to buy a house, but there are other issues that are just as important to your purchase. Some things to consider are: What’s the resale potential? Understand any Contract Contingencies that might exist. Are there any structural issues? Contact us for great referrals for home inspections.

7. Make an Offer
There are some home buying tips that can help you fine-tune your offer. Some things to consider are: What comes with the house? What should the seller disclose? Decide how much to offer.  We can help you with all of that.

Please contact us today so we can help you get on your way towards homeownership.