Buying a home for the first time can be an extremely exciting time and also somewhat terrifying. And for good reason, a home is likely the most expensive purchase you will ever make in your lifetime. Especially for renters accustomed to signing year-long or season-long leases, terms like 30-year-mortgage can be daunting. If you are nervous or hesitant about purchasing your new home you are in good company. To help calm your nerves, we’ve collected tips for first-time homebuyers from our team of some of the top real estate agents in New Jersey that will help you and your agent during your home search.
Make A Wish List (Update It Often)
Help keep your priorities straight by writing down a list of wants and must-haves for your new home as well as a list of deal breakers. These lists will help organize your thinking, objectively consider each property and most importantly, give your real estate agent a head start in finding your new home. Update your wish list as you visit more homes and you have a better feel for the types of homes available in your price range.
Have Honest and Candid Communication With Your Agent
Surprises are rarely a good thing when purchasing your first home. Whether it be during the home-inspection, mortgage evaluation or stepping up to the closing table, surprises and last-minute changes can derail even the most straightfoward of real estate transaction. Be upfront and honest with your agent, remember we are here to represent your best interests.
From listing sheets to pre-approval letters, keeping your documents organized and readily available will reduce undue stress and pressure during all phases of the real estate transaction. Buying your first home is stressful enough, you don’t need to add to it. Start a folder or document packet with sections for each type of document.
Be Flexible and Realistic
Unless you are considering new construction, chances are you will not be able to preselect design elements of your new home before closing day. Don’t immediately write off a home just because the current owner prefers coral pink wallpaper pared with plaid throw-pillows. It is important to keep in mind the potential of every home that your agent shows you. You’d be surprised how much you can reinvigorate a space with a fresh coat of paint, new outlet covers and window treatments.
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