5 Tips for First Time Home Buyers
Buying a home can be a scary process, especially if it’s your first time, but it doesn’t have to be! With a little research and help from the best real estate agent at the Lake of the Ozarks, the process of buying your first home could be smooth sailing. Devine & Associates has 5 tips to help first time home buyers navigate through the buying process:
1. Know Your Credit Score
The home buyer’s credit score is one of the most important factors when it comes to qualifying for a home loan. Just because you pay your bill on time every month doesn’t mean that you have a perfect credit score. There are many things that play into good and bad credit scores. Repairing a damaged credit score takes time and money. If you need to get your credit score up, you should consider getting that taken care of before applying for a home loan.
2. Consider Your Budget and Include Everything
Just because you are approved for a certain loan amount, doesn’t mean that is how much you should spend on a house. Be realistic about your budget and do not forget about all your monthly expenses. Call the utility companies in the area that you are thinking about buying a home in and ask for an estimate of what the cost will be. Are you going to be closer or farther away from places you frequently visit? Will you need to spend more or less on gas because of this? Add together all these expenses and see if you can still afford the house.
3. Think Beyond the First Year
Is this going to be your forever home, or will you only be in the home a few years? This is an important question to ask yourself before buying your first home. If this is going to be your forever home, you will have to think about how well your home will grow with you. If you are only going to in it a few short years, how well will it resell? If you want to later rent out your home, will you be able to?
4. Look Beyond the Staging
Homes that are staged naturally look better than homes that are still occupied, but you need to look beyond these tricks. Pay more attention to the layout of the home and the structure itself. Bad wallpaper and paint can be easily fixed. The structure and layout of the home are much harder to change.
5. Use a Trusted Real Estate Agent
Once you figure out the ideal area you would like to live, connect with an agent that works in that area. Real Estate agents have vast knowledge and local insights to the areas they work in, which could help you in your search. You may think a neighborhood you like is out of your price range, when in fact, there was a perfect home that you overlooked.
Let Devine & Associates Help You Buy Your First Home!
Buying a home at the Lake of the Ozarks is made easy with Devine & Associates. Whether it’s your first home or you are buying a vacation home, your Lake of the Ozarks’ real estate agent can help you find your dream home. If you would like more information on buying a new home, give us a call at 573-392-9900 today!
Devine & Associates Real Estate
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