Vickie’s Guide for First-Time Home Buyers

Buying your first home can be daunting. Juggling finances, the documentation, and searching for the home itself can seem overwhelming at times, but that’s where my fellow Realtors at Mobility Realty St. Joseph and I are here to help. From the time you decide to start looking to the time you sign the closing documents, my goal is to not just find you a house but the perfect home for you.

There are a few financial aspects that might make you unsure if you can buy a home right now, like your credit score. Your credit score is important, but it isn’t as much of a barrier as you may think. If this is your first time buying, you can qualify for an FHA loan even with a lower credit score.

Another concern that makes potential homeowners hesitate is having enough for the down payment. Luckily, there are lots of options for down payment assistance and lots of lenders that can help you navigate that process and become a homeowner.

Getting involved with a lender about a year before you buy gives you a serious leg up. That way, you know where your finances stand and can shop accordingly. Lenders are great; they’ll help you assess your finances, decide the type of mortgage that works for you, and get you pre-approved. It’s not a bad idea to look at what a few different lenders offer too and find one that works for your situation, which isn’t always the first one you visit.

The next step is to find a Realtor, someone who knows the local housing market well. Your agent should be able to provide you with market trends in your area, comparable sales around the house you’re looking for, and take the time to learn what you want from your new home. Having open communication with your agent is essential, and learning their communication style can be invaluable if you get into a bidding war for the property you’ve fallen in love with.

Once you’ve made your offer and negotiated a fair price, it’s time to secure your loan. Your agent will help you make an offer price, put a deadline on the offer, and request any contingencies you may want to express. Waiving contingencies can make your offer more appealing, but it may lead to problems down the road. Talk to your agent about what the best course of action is and the risks you might face.

After your offer is accepted, it’s time to hire a home inspector to make sure your new home doesn’t have any surprises. Make sure to tag along during the inspection, and don’t be afraid to ask questions. If the home needs repairs, you can always ask the seller to fix them, but they can say that other offers wouldn’t require those repairs. Once again, your agent should be able to help you decide what’s reasonable and the best way to proceed.

The last steps in the home buying process are to get homeowners insurance, plan your move, and finally, close! With a mortgage, you’ll need homeowners insurance. Just like finding a lender or real estate agent, shopping around can help you find the best rates. With everything else going on, the actual move can get overlooked. Keep in mind that you might need to hire movers, switch utilities, and pack everything up. It’s always better to start earlier rather than later in the moving process.

To sign the deal, you and your agent will go to the closing of your new home. Don’t forget paystubs, bank statements, and if there are closing costs, a certified check. There will be some paperwork to sign to transfer ownership, but your Realtor will be able to guide you through the entire process. Once everything is signed, you’ll do a final walk-through to make sure everything is in the same condition as when you last saw the house.

Understandably, the home-buying process can seem complicated, but that’s why choosing the right agent is so important. If you’re thinking about buying a home, have started searching in your free time, or don’t even know where to start, that’s where I come in. I’d love to talk and find out what you’re looking for in your dream home. I want to find a home that meets or exceeds your needs, not one you settle on.

If you’re ready to talk, I’m always available at 816-617-1974, or you can reach out at vickie@mobilityrealtystjoseph.com. Thanks for taking the time to learn more about the homebuying process!