It’s your first venture into the real estate world, and needless to say, you’re intimidated.
Managing your credit score and finding enough funds was hard enough. But now you have to deal with all the other components of the process—finding the right land, location, ensuring legit permits, etc.—and it’s becoming almost impossible for you to imagine ever being a homeowner!
Don’t fret, though!
With the tips below and the help of a reliable Camp Hill listing brokers like Smith Top Team, you’ll have no trouble making your way through the many steps of first-time homeownership!
What You Should Know as a First-Time Homeowner
– Brush Up On Your Financial Knowledge
Got a credit score that needs some work? Get monthly updates on your credit score status, and try to learn the dynamics of the system before opting for a home loan. Additionally, talk to a reliable mortgage broker to learn about the type of home loan you should get.
– Keep the Paperwork Handy
Once you get approved for a mortgage, you’ll need to have all your information ready so you can complete your application.
Your best bet is to save some time and plan in advance by preparing a file with all your paperwork, i.e. bank statements, pay stubs, tax returns, etc. from the last three months so there’s no delay in underwriting the mortgage.
– Be Clear about Your Expectations
Your realtor is your best friend for the next many months. Be open with them about your expectations but don’t go overboard with requests. While your realtor will be able to provide you with a list of homes that suit your budget and needs, they won’t really have any power over the type of tiles in the bathroom or the specific stone countertop you want in the kitchen!
– Don’t Settle for the First House You See
Buyer’s remorse is real! Give yourself the chance to check out all the houses that are on offer and always think twice before making an offer. Check the surrounding areas, amenities, and transportation availability. You’re making a huge investment. Don’t let an impulse moment rule you.
– Be Realistic
As a younger prospective homeowner, i.e., a millennial who’s wading into the real estate pool for the first time, you want to be sure about your investment. While it’s desirable to have your own home, it might not work in your favor if you ignore your other fiscal priorities, like student loans and limited savings.
Consult with your realtor about your next step. For many, it might actually be more beneficial if you just wait the season out and get a better property when you’re financially stable.
Need Our Help?
Smith Top Team is a leading Realty Services Camp Hill Pennsylvania. We have our finger on the pulse of the PA real estate market.
If you’re a first-time homebuyer, contact us and let us help you find the perfect first home!