First-Time Home Buying Tips

Buying your first home is an exciting time! Even though you are likely thrilled for this next step in your life, the process may seem a bit intimidating if you've never been through it before. As your team of real estate agents in Eldon, MO, we know how important it is to create a positive experience for first-time buyers. Buying a home near the Lake of the Ozarks should be a memorable and exciting time. With these tips under your belt, you can be better prepared for the home buying process!

Check Your Credit

Your credit score has a big impact on your mortgage loan rate. If you don't have the best credit, start making improvements now to straighten it out. Try to pay all of your bills on time, don't rack up the credit card debt, and pay down as much of your debt as possible. This can help improve your credit rating.

Save Up for a Down Payment

Many home loan options require some sort of down payment. It may not be the tradition 20% down, it's more along the lines of 5%-10% down. Start saving up for a down payment now in order to have enough money set aside when it comes time to make a home purchase!

Get Pre-Approved for a Loan

Once you are ready to buy, it's important to get pre-approved for a loan. A pre-approval letter gives you a clear idea of the price range in which you can purchase a home. It can help ensure you are looking in the right range of homes. This can help you avoid falling in love with a home that is simply not in your budget. A pre-approval letter also helps sellers know you are serious about buying when you make an offer.

Make a List

Before you start looking for homes, try to write down what you want in a home. This list of features can help you narrow down your home search. Once you've looked at different properties, this list can also help you re-focus your search. A list of pros and cons of each home can help you narrow down the right house for you and your family!

Think About Location

When narrowing down your home search, it's important to think about location. Whether you want to be close to work, close to school, or far away from a certain destination, this information is important during your search. You can choose a different home, but it's hard to move a home to a new location. Once you narrow down a home you are interested in, try to drive by at different times of the day. This can help you get a good idea of what the traffic, noise, and other factors are like in the neighborhood!

Hire the Right Agent

You will end up spending some quality time with the real estate agent you choose. From touring potential properties to working on paperwork to negotiations to closing, your agent will help you through the entire buying process. It's important that you like the person you choose to help you with what is likely going to be the biggest purchase of your life.

Now that you know these tips for first-time home buyers, you're ready to get started. Here at Devine & Associates, we would be honored to help with your first real estate transaction! We specialize in helping first-time buyers find the perfect starter home for them and their families. Give our Eldon, MO real estate agents a call today!

Where Your Best Interests and Our Best Efforts Meet!

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203 E. 10th St., Eldon, MO 65026
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