Some Tips For First Home Buyers!
Tip#1 What’s your budget?
It seems like a no-brainer, but you’d be surprised how many buyers don’t start by figuring out how much money they have to spend on their house purchase. It’s easy to show up at open homes and fall in love, but why waste time looking at homes that are out of your price range?
Tip#2 Come up with a realistic ‘Wish-List’
The key here is ‘realistic’. Based on the housing budget you figured out and where you want to live, compile a list of what you’d like to have in your first home. If you’d love a fully renovated kitchen and none of the listings in your price range have one, be prepared to compromise.
Tip#3 Get pre-approved for a mortgage
Speak to at least three or four different types of lenders. Once you’ve compared a few loans from different types of lenders & decided on the right one for you, its time to get pre-approved. You’ll need to provide the lender with details of your credit, income and assets to start the process. The bank will verify everything and issue a letter that tells you, and sellers, how much the bank is willing to lend you.
