Advice for First Time Home Buyers
Today we share sound advice for first time home buyers here in Santa Clarita. Though intended for first time buyers, much of this will apply to all home buyers.
It's always exciting when buyers prepare to purchase their first home. It's a busy time! Between obtaining loan approval, searching for homes, viewing homes, writing offers and thinking about moving, it's easy to lose track of the business aspect of buying a home.
NOTE: Just in case you need to sell a home before buying another, you might like having a look at our full list of home selling tips. It's perfect for anyone considering selling their home.
Getting Started With Buying a First Home
Most first time buyers might begin their road to homeownership with a dream. Or, if currently renting, perhaps you're tired of throwing money away each month. Whatever the reason, purchasing a first home can be a bit daunting and sometimes filled with unpleasant surprises. We should be able to help you avoid the worst of it by viewing the tabbed content below. Simply click or tap the topics below to find whatever information needed.
WARNING: If you are interested in buying a brand new home in a new development, do NOT sign in at the developers sales office without us or your agent. Why? Because if you sign in on the first visit without us, we cannot represent you with your purchase should you later decide to buy a home in the development.
Preparation for Buying Your First Home
Buying a first home is much different than it once was. There is no longer any need to waste time aimlessly driving through neighborhoods looking for For Sale signs. The internet has improved dramatically so house hunters can be reasonably sure they are actually viewing recent listings of homes for sale, as opposed to homes sold months or even years in the past. In fact, we have a terrific, free home search app that works GREAT on all hand held mobile and tablet devices. It's the perfect solution for anyone buying or selling a home.
Early Agent Selection
The first and best advice we can offer is to select your realtor sooner rather than later. Yeah, we know you might not want to speak with an agent until you are further along, but an experienced local realtor will meet with you in advance, help you plan and avoid additional costs when buying a home. Tap or click on the Choosing Representation topic to find all the information needed when choosing your agent.
Consider Your Needs Now AND in the Future
Before starting your house hunt, consider some of your needs. How many bedrooms will your home need? Will you need an office or downstairs bedroom? If you like to entertain, perhaps a nice sized backyard and swimming pool is important. What about location? If commuting to work, perhaps choosing a community close to the freeway or train station is needed. What about children or family members? This list goes on and on, but we can help whenever you are ready. We'll cover all this in our initial buyer consultation meeting.
How Much Time Will It Take to Buy a Home?
If you found a home now and received acceptance on your offer, a typical escrow period might be from 30 to 45 days.
When working with us we make every effort to accommodate your schedule. However, there are some time sensitive tasks that may need to be completed during normal business hours.
Prepare To Meet With a Mortgage Lender
Gathering some of your financial records will help prepare you for your initial meeting with a mortgage lender. Don't put this meeting off! Obtaining a lender pre approval letter is one of the first steps in the home buying process. You will need your pre approval prior to making any offers. More importantly, you will get a better understanding of the different loan options, monthly payment, and how much of a home you can afford. This information will help you come up with a budget that you are comfortable with.
Home Buying Strategy
It's very important to have a personalized home buying plan in place before getting started with the process. This is why it is important to identify a realtor that you would like to work with and schedule a home buyer consultation.
Buying a Home is Like Operating a Business
We understand buying a home is an emotional experience. The biggest mistake buyers make is allowing their emotions to get in the way of their better judgement! When you work with us, we'll negotiate on your behalf and protect your best interests.
Additional Costs When Buying a First Home
In addition to the price of the home, there are some up front and additional costs associated with buying a home. Click or tap on the Costs tab to learn more.
Remember, buying a first home is probably going to be the single, largest investment you will make. We'll provide guidance and help you make accurate and informed decisions, from start to finish.
Make the Right Choices and Rely on Your Professionals
As you can see, there's a good amount of work and lots to consider, especially if buying your first home. There is no reason to become stressed or overwhelmed. Focus on choosing the right professionals to do the heavy lifting. They will lighten the load, protect your interests and provide you with the expert representation you need and deserve.