Now that my daughter is at the age where she and her friends are purchasing homes, I look at the first time home buyer process differently than I would have 20 years ago. Although I look out for all my home buyers needs, I am very proactive when it comes to this group and will do everything in my power to make sure you are very informed every step of the way to avoid mistakes.
Home ownership can be such a great way to build long-term wealth and I want you to have every opportunity to build the most equity possible.
- Most first time home buyers secure a loan to finance their purchase and meeting with a lender is a very important first step. In fact, even if you are a year or two away from buying, it is never too early to meet with a lender and start planning. They may have some great advice for you in terms of what to do with your credit, payments, and saving so you can be as prepared as possible when the time comes for you to buy. Don’t have a lender? Reach out to me! I can refer you to several lenders who would be great assets for your home-buying team.
- Build your team with great collaborative professionals. Just as you would be strategic in choosing a great offensive line for a football team, you should apply that strategy in choosing your home buying team. From your real estate broker to your lender, inspector, homeowners insurance, and escrow agents, all are paramount to working with you to get your transaction closed – if it is in your best interest to do so. Surround yourself with positive and knowledgeable professionals and you will reap the rewards!
- Although home ownership is historically a great investment, sometimes renting is the way to go. If you anticipate a job change, change in your household structure, or some other major change in the next year or two, it may make sense to continue to rent until these changes take effect so you can see how they impact your life and then buy when the time is right. I don’t say that to dissuade you from buying, but to let you know that I don’t always advise to buy if I don’t feel it is in the best interests of my clients.
- Don’t let student loans hold you back. If you have student loan debt, some lenders have solutions for this. Don’t assume if you have student loans that a mortgage isn’t in the cards for you. Let’s talk!
As you can see, I am passionate about helping first time home buyers and whether you think you might be ready next week or even in a year or two, reach out and let’s start the conversation now. I will teach you about the market and spend time getting you ready for your home buying moment.
