10 Tips for First Time Home Buyers

    Purchasing a home can be over whelming and time consuming especially for a first time home buyer. The Powell Group is here to help! The following tips come directly from our Powell Group Staff. We want nothing but the best experience with your home purchase process.

    1. Gain Pre-Approval: You do not want to shop until you know what you can afford.
    2. Have a savings built before you buy: If you go into the home purchase process with savings under your belt it will help eliminate the shock of possible unknown costs that may arise.
    3. Find an agent that fits your needs: The agent works for you and can help tremendously don’t go at it alone.
    4. Communicate with your agent: We are here to help, but if you do not tell us what you want we can only provide so much
    5. Find homes through us: Don’t waste your gas and time by driving house to house. Allow us to find a home for you with a list of your likes and dislikes.
    6. Don’t over buy: If you get approved for a high loan that is great! But make sure that you are willing to spend what you are approved for you do not want to have buyers remorse
    7. Don’t make major purchases before closing: your loan depends on how your credit stands. If you decide to also buy a brand new car while in the closing sprocess you might run the risk of losing your house at closing due to your credit.    Always keep credit in mind.
    8. After Closing: Make sure to put your taxes into principal residence status. You do not want the taxes to creep up on you so handle them ASAP.
    9. Keep Accurate Records: Keeping your records current such as your pay stubs for at least 3-6 months because your lender will ask for them.
    10. Don’t be afraid to ask questions: We are here to help! The home purchase process can be overwhelming so please feel free to ask any questions that come to mind.

    If we can be of any assistance in your home purchase process please feel free to contact any of our agents. We are always here to lend a helping hand.

     

     

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