If you are looking to buy a house for the first time you may be feeling confused and stressed! Buying your first home can certainly envoke those feelings no matter what our personalities are.
How to Buy a House for the First Time
There are 3 major components you will want to consider when buying a house for the first time. Today we will cover those components. If you prefer to watch a quick video on the topic then scroll on down to the bottom.
Finding a Lender/Mortgage Broker
Your lender can make or break a deal and you need one before you should even think about looking at homes! Here in the Denver area all offers need to be submitted with a preapproval letter from a reputable lender. A lender will help you know exactly how much you can purchase and what those monthly payments will look like. Just because a lender says you can afford $500,000 doesn’t mean you want to spend that much. Most realtors have a couple of great lenders they have worked with in the past.
Deciding on Your Needs and Wants
Working out what you truly need in a house at this stage in your life will help you make not just sound house decisions but also sound financial decisions. You may want 5 bedrooms but your budget predicts that a 3 bedroom upgraded home would be a better choice. Sit down and make a list and think about those things you truly need. Use 2 columns, it doesn’t mean you won’t get some of your wants too but working on those needs first will get you a home that suits your current lifestyle.
Finding a Good Realtor
Your realtor is not just going to help you find the house, they are going to be your negotiator, your liaison, your person! You may end up spending a lot of time with your realtor so make sure you choose someone you mesh well with. Be confident that they are the right fit for you and your first time home buying needs. Choose a realtor that will educate you before, during and after the process!
Looking for a realtor in the Denver area? I would love to help, fill out the contact form on the sidebar and let’s chat!