Tips for First-Time Home Buyers

Tips for First-Time Home Buyers

When beginning the process of buying your first home, it’s easy to jump into the process without completely preparing or readying yourself for everything that goes into finding the right home for you. 

 

So what’s the best way to prepare fully for your upcoming home search and make sure you’re properly prepared for what you’re looking for, budget, and that you know what to look for and what to avoid in the houses you’re looking at. For a successful house hunt, check out our house hunting tips for first time homebuyers below. 

 

House Hunting How-To’s

Purchasing your first home is a huge commitment and a huge step in your life, and it’s something that should be celebrated! To make sure you’re in the right space financially and mindset-wise to undergo the home buying process, check out our best home buying preparation tips so you’re set up for success. 

• Get pre-approved for a mortgage. Getting pre-approved by a bank or lender before you start the buying process will give you credibility as a buyer and will help to streamline the home buying process. This will also save you time later, as the process of getting pre-approved does take some time, which can feel like a while if you’re waiting on this approval to make an offer. 

• Find the right real estate agent. Finding the right real estate agent can really enrich and help your house hunting process in many different ways. Beyond the house search itself, having a trained professional on your side for negotiations and making offers will let you avoid getting overcharged and get you the best prices. 

• Do market research. Before running around to house showings and trying to look for the right place, check out what kind of market you’ll be buying in. Research current interest rates, housing prices, and trends to make sure you’re shopping during a time that will get you the best deal. Avoid getting overcharged or walking into an unfavorable market by researching thoroughly. 

• Find your right neighborhood. Finding the right area for you is important for a lot of reasons. You obviously want to be close to your job, nice restaurants, or parks or places where you can participate in your hobbies. Choosing the right neighborhood can also impact your home’s value over time, and it’s potential for reselling later on if you decide to make another move. 

• Manage your expectations. Make a list of your wants and needs from your home, and stipulate which are non-negotiable. However, keep your expectations realistic in terms of location, budget, and amenities. Not every place is going to be perfect, and don’t dwell too much on cosmetic issues that can be easily changed. 

• Look out for big issues. Things like structural issues or defects might not seem like a big deal at first, but can quickly turn into a nightmare. Never skip your home inspection, and keep a critical eye out for any structural or foundational parts of the homes you’re looking at to avoid big problems later on. 

Once you’ve found the perfect home for you, the next step in your journey is to find the right moving company for you. Chicago Movers are the best in town professional movers for your next relocation. No matter the size or scope of your move, we’ve got you covered in all aspects!