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You guys are great and thank you for understanding my credit problems and helping me finance my home, most other companies I’ve seen do not offer the level of service as you guys do. I had an excellent home buying experience, and will definitely recommend you to my friends and family.

    -Jeffrey Grove, Hamilton

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Top 7 Tips for First Time Home Buyers Print E-mail

Purchasing your first home doesn’t have to be a hassle. Many home buyers are intimidated by the home buying process, and thus, often continue renting longer than they should. The home buying process doesn’t have to be a stressful experience; in fact, breaking down the home buying process can make the whole experience much less intimidating, and more manageable. Just remember to follow these easy steps.

1) Ask Yourself:

How long will you live in your next home?

If your answer is, “3 years or more”, you should consider purchasing, rather than renting. Remember, the most expensive part of real estate is buying and selling, so the longer you live in the home, the better it is for you.

2) You Don’t Need a Down Payment!

Believe it or not, there are Zero down programs available and they are actually quite common among new home buyers. The best part is that you don’t need to have perfect credit to qualify! Real estate usually appreciates in value, and because of this, its often easy to be approved for a 100% mortgage.

3) Get Pre-Qualified

This step is very important and often feared the most. Pre-qualification will help give you buying power and allow you to make an offer on the home of your choice. It will also let you know how much your dream home will cost in monthly payments. Once you’re pre-qualified, ask the lender for a “payment table” that shows a rough estimate of the total monthly payments; then, you just need to choose your payment!

4) Consult a Realtor

Simply put, interview a few agents. This will help you choose one that is best suited to guide you through the home buying process. Pay attention to the realtor’s knowledge of your specific market and his/her willingness to help.

5) List Your “Needs” and “Wants”

It is not the norm for first time home buyers to fall in love with the first home they lay their eyes on. In some cases this may be true, buy try taking a more systematic approach to your search and you’ll be more confident in your decision. Make a list of what you “need” and what you “want”. Your “needs” are the absolute necessities in your new home. For example, you might list the following under needs: price, local schools, size, etc. Your “wants” are what you would like for your new home, but aren’t considered necessities. For example, “wants” are color, flooring, appliances, and type of exterior. By taking the time to figure out what you need vs. what you want in your new home, you will have a general idea of what to look for when searching for your new home.

6) Choose Good Neighborhoods

To help you choose the right neighborhood, ask your Realtor to e mail you a list of homes in the specific areas that you’re interested in. Then, visit the different neighborhoods to get a feel of what they’re like. While visiting, pay attention! Look at the maintenance of yards and common areas, and if you see a lot of “for lease” signs, this may indicate a heavy rental area. After you have picked your favorite neighborhoods, and you know your “needs” and “wants,” you should be able to make a list of all the homes available that meet your criteria!

7) Make the Final Decision!

It’s normal to feel butterflies in your stomach after purchasing your new home. Let’s face it, your home will probably be the largest investment of your life. The important thing to remember is that you should be confident in the decision that you make. If you’ve followed these steps, there is no reason to have any doubts! Don’t wait! Purchase YOUR home today before another buyer does!


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