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5 Tips for First-Time Homebuyers
Posted by 1 month ago.

The Wagley Group's real estate professionals are experienced working with first-time homebuyers. We understand that buying a home for the first time can be exciting—and a little bit overwhelming, too. We strive to simplify the initial stages of your home-buying experience. These tips and our Homebuyers Guide are a great starting point:

  1. Shore up your savings. One of the key aspects of home ownership that first-time homebuyers need to understand is that it can be a costly endeavor. Once you purchase a home, you'll need to maintain it, pay property taxes on it, and of course, make a mortgage payment every month. Even before you buy a home, you'll need to cover costs for a down payment, a home inspection, and closing costs. The sooner you start saving money and building a nest egg, the better off you will be.
  2. Know where your credit score stands. You'll have more home-buying options and better mortgage financing terms if you have good credit. If you don't currently have a strong credit score, you may want to delay the purchase of a home and work on building up your credit standing so you can make the most of your home-buying dollars.
  3. Determine what you can afford to buy. While it can be fun to imagine living in your dream house, when it comes to looking for the home you'll actually reside in, you need to have a realistic price range in mind. Getting a mortgage pre-approval will allow you to determine a price range that's comfortable for you and allow you to move more quickly when you find a property that you would like to pursue.
  4. Make your home-buying wish list. Once you have a mortgage pre-approval, it's time to think about the things you really want in your first home. Start with the necessities. For example, do you need to live close to a job or transportation? Do you have children who are going to attend school in a certain district? Once you know the “must-haves” you can focus on the preferred features you would like to have such as a main floor laundry room, a guest bathroom, or a finished basement. Knowing which attributes of your potential first home are “deal breakers” versus “nice to haves” will help you be more discerning about the homes you view.
  5. Reach out to a Realtor®. Professional Realtors® have extensive knowledge and expertise in real estate transactions, laws, and compliance. A good real estate professional can also help you navigate the home-buying process from start to finish, while working with you to secure the ideal property based on your budget and preferences. Having a local real estate agent is especially advantageous when you buy your first home. They will be able to share with you the pros and cons of each area of the market you are buying in.

If you are a first-time homebuyer, let The Wagley Group help you! Contact us and we'll guide you on every step of your home-buying journey. You can also join us February 24 for our First-Time Homebuyers' Workshop. Call us at 265-6000 for details.

Tags: Lenawee County real estate agent,Adrian Michigan real estate agent,Joe Wagley realtor,buying home in Lenawee County,Lenawee County homes for sale
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