First Time Home Buyer
As a first time Homebuyer, the process of finding a home might seem overwhelming. That’s why you need the assistance of a qualified professional to make the transition as seamless as possible. Here are a few helpful hints to help you on your home buying journey:
Save for the down payment
Most mortgage lenders require a cash down payment of 5%, 10%, or 20% of the sale price. Buyers today may find it difficult to save for a large down payment, especially young adults saddled with substantial student loan debt. Contact a lender to find out your financing options. You will also want to make sure your credit is in top shape. Try to avoid opening a new credit card or purchasing a car in the months leading up to your home purchase.
Factor in home improvement costs and monthly household expenses
With today’s low inventory of affordable homes in Ventura County and the surrounding area, many buyers will find themselves settling on a “fixer-upper”. Make sure you are planning for the cost of renovation or unexpected expenses these homes typically have. Also, don’t forget about additional homeowner expenses like insurance, HOA fees, and monthly utilities that can add up quickly. Factoring these expenses in at the beginning can help you better assess your overall budget and a realistic monthly mortgage payment. Click here to find out how much home you can afford (clickable)
Find a Realtor®
Don’t just settle for someone with a real estate license. This is the largest financial transaction you will likely ever make – you need someone with a proven track record. When interviewing a potential sales professional, ask candidates about the transaction to evaluate their knowledge. Ask for – and check – references. Ask yourself if you will feel comfortable working with this person very closely in the months ahead. Of course, a Berkshire Hathaway HomeServices agent can help educate you on market conditions and get you the best possible price for the home you want! Find a sales professional to help you through the process