No Bull Agent

Top 5 Tips for First-Time Home Buyers

Below are the top five tips for new home buyers…

1)  Get help.   Your home is likely to represent one of the largest investments in your life.  In order to make sure the transaction goes smoothly, it is of vital importance that you choose the right agent to represent your interests.

2)  Get pre-approved.  Do you already know how much home you can afford?  There is nothing more frustrating than looking for a home, finding the perfect home and then discovering it is out of your price range.  Speak with a lender to learn about different financing options available to you.

3)  Avoid major purchases.  In order to determine the amount of home you can afford, a lender uses your debt-to-income ratio.  Your debt ratio will include monthly housing costs, vehicle payments, credit cards, student loans and any other installment debt.  If you take on more debt right before buying a home, it is going to have an impact on the amount of the loan that the lender will finance.

4)  Sign up for Property Watch.  In order to make an educated decision, you need to know what is available and how much it will cost.  You can browse all the active listings by clicking here.

5)  Ask questions.  No one knows the home better than the seller of the property.  However, it is not always in the seller’s best interest to disclose all the information.  Asking the right questions now can end up saving you stress and money in the long run.

Tags: first-time buyers, san diego real estate

This entry was posted on Thursday, December 17th, 2009 at 11:30 pm and is filed under Home Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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