Congratulations: you are thinking of buying your first home! What are some things you should know as you start this new adventure? We are happy to provide you with advice from our experts to help you navigate this exciting process.
As a real estate agent, I understand how overwhelming it can be for first-time homebuyers. According to the National Association of Realtors' 2020 Profile of Home Buyers and Sellers, first-time homebuyers accounted for 31% of all homebuyers in 2020. This shows that there is a significant market of first-time homebuyers who are looking for their dream homes. The process can seem daunting and complicated, but with the right guidance, it can be a seamless and rewarding experience.
Securing a lender is a crucial first step in the home buying process because it determines how much money one can borrow to purchase a home. Without securing a lender, it's difficult to know what price range of homes to look at and what the monthly mortgage payment will be. At Kim Guilder Realty, we understand the importance of working with trusted lenders who offer competitive rates and exceptional service. We recommend Kristen Lucas at Atlantic Coast Mortgage as a preferred lender for our clients. She has a proven track record of providing excellent customer service, offering competitive rates, and being transparent throughout the lending process.
Next, it is essential to have a clear understanding of your budget. Before beginning your home search, take some time to determine what you can afford. Consider your income, expenses, and any other financial obligations you have. It's also important to consider the additional costs associated with homeownership, such as property taxes, maintenance, and repairs. In 2022, the median age of first-time homebuyers was 36 years old, which is an all-time high. This highlights the importance of affordability in the home-buying process: considering that most individuals are not financially stable and immersed in a long-term career until their 30s combined with the current economy, this statistic is not too surprising.
Once you have a budget in mind, it is time to begin your home search. Consider what aspects of a home are most important to you: location, size, and acreage are usually the biggest factors in a buyer’s decision. One of the most significant benefits of working with Kim Guilder Realty is that we have access to a vast network of properties that may not be available through other platforms (newsflash: Zillow doesn’t list every home on the market!). We'll work with you to identify your wants and needs and match them with homes that meet your criteria.
When viewing homes, it's important to keep an open mind. While it's great to have a wish list, it's essential to be flexible and consider properties that may not tick every box. Remember, a home can be renovated and personalized to meet your needs and style, and there are a variety of local home improvement companies we are happy to refer you over to shall you have desires to renovate or make additions!
When you find a home that you love, it's time to make an offer to the seller. This can be a nerve-wracking experience, but this is where our expertise comes into play: we will help you understand the market conditions, negotiate with the seller to get the best deal possible, and ensure that all necessary paperwork is completed correctly on both sides of the transaction.
At Kim Guilder Realty, we are committed to providing our clients with exceptional service and ensuring that their home buying experience is enjoyable and stress-free. We understand that buying a home is a significant investment, and we take our responsibility to our clients seriously. I am always readily available to answer questions and act on your behalf as my valued client. If you're a first-time homebuyer, don't let the process overwhelm you. Contact us today to learn how we can help you find your dream home and make the process as smooth as possible.