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Coldwell Banker Sea Coast Advantage Blog

Advice for First Time Home Buyers

Posted: May 14, 2018 by Honor Rudd

Are you a first time home buyer? Your range of emotion is likely off the charts. But Coldwell Banker Sea Coast Advantage agents have some advice to make the process less daunting. Your buyer’s agent has one job, to look out for your best interests throughout the home-buying process. You will notice that being properly prepared can make all the difference.

“Educate yourself about the process and ask questions. Find a REALTOR® who will take the time to navigate you through the entire process to make sure that you understand how each step in purchasing a home works.”
--Kelly SloopMidtown Office

“Make time to meet with your REALTOR® in person first to discuss the homebuying process. Then go out looking at homes. It’s very important to be educated so you know what to expect.”
--Allison DonovanMidtown Office

“Get with your REALTOR® and learn. Get with your lender and know how much you can spend on your 1st home--you don’t want to look at homes over your budget. Have fun and enjoy your starter home. It only gets better from there.”
--Ann KonetesAutumn Hall Office 

“Find a good agent who you trust and work with just that agent. A lot of first-time home buyers don’t understand the process, but they don’t want to inconvenience anyone. Buyers’ agents specialize in representing your best interests as a home buyer. Also, get preapproved first. Don’t fall in love with a home and then realize you need to sell a kidney to make it happen.”
--Tom GaleAutumn Hall Office

“You should be aware that not only are you shopping for a home, but also shopping for a mortgage. Look at your credit and work to best position yourself to get the best rate. This should begin 6 months before getting pre-approved.”
--Andres CampilloAutumn Hall Office

“Buy what you can actually afford, in real life, and comfortably. It's nice to have everything, but if you don't live within your means, ultimately you will end up with nothing!”
--Jocelyn HopkinsTopsail Office 

“Even if your pre-approval is for $500,000, take a realistic, no-rose-colored-glasses look and determine your budget. You still want life outside of your wonderful new home, you still want to decorate, you still want to eat at a delicious local restaurant from time to time. Put it all on paper and take a real look.”
--Jodi CrumplerHampstead Office

“Take a solid look at your finances, get preapproved and stay within the price range that is in your ‘comfort zone’ for a house payment. You may qualify for much more than you are comfortable paying but trust me, stay in your comfort zone to avoid being house poor and debt rich!”
--Melanie CameronAutumn Hall Office

“After you are qualified for a loan, do not purchase anything of value. Necessary items like gas, food, clothing and medicines are fine. Furniture, TV’s, appliances or other large purchases will affect your ability to get your mortgage.”
--Jack GaleAutumn Hall Office 

“Put yourself on a budget and stick with it. Always allow a certain amount of money to go into a savings account, that you do not touch, only for emergencies”
--Ginger HarperSouthport Office

If you are ready to take those first steps towards a home to call your own, our friends at Alpha Mortgage would love to help!

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