Tips for First-Time Homebuyers
Beaufort and Morehead City, North Carolina
- Be picky, but don't be unrealistic. There is no perfect home.
- Do your homework before you start looking. What do you want? Decide specifically what features you want in a home and which are most important to you.
- Get your finances in order. Know your points, and what they are! Review your credit report and be sure you have enough money to cover your downpayment and your closing costs.
- Don't wait to get a loan. Talk to a lender and get pre-qualified for a mortgage before you start looking. Most good agents will help with this process.
- Don't ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
- Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?
- Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you'll buy as well as the type of mortgage terms that suit you best.
- Don't let yourself be "house poor." If you max yourself out to buy the biggest home you can afford, you'll have no money left for maintenance or decoration or to save money for other financial goals.
- Don't be naïve. Insist on a home inspection and, if possible, get a warranty from the seller to cover defects within one year.
- Get help. Make sure that you are represented by a REALTOR as a buyer's agent. Unlike a listing agent, whose first duty is to the seller, a buyer's agent is working only for you. And most often, buyer's reps are paid out of the seller's commission payment.
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2004. All rights reserved. - www.REALTOR.org/realtormag
Back to Buyer Tips |
Beaufort Buyer's Agent |
What Is Earnest Money? |
How To Make An Offer
First-Time Homebuyer Mistakes |
Moving Day Checklist |
Negotiating An Offer
Owning -vs- Renting |
Signing, Closing & Possession |
The Home Buying Process
Tips For First Time Homebuyers |
What Is Title Insurance?
Please Contact Copeland Real Estate to act as a Buyer's Agent for homes, land, commercial property or other real estate in Beaufort or Morehead City, North Carolina.
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