Tips for First Time Home Buyers

Purchasing a home can be intimidating for just about anyone, but when you are a first time home buyer, the task can be daunting enough to cause you to hesitate and perhaps even remain a renter. Don’t let your fear of the unknown deter you from purchasing your first home in the Phoenix area. We’ve put together a list of valuable tips to help ensure that you achieve home buying success.

Contact us online or call us at 480-237-9979 if you’re looking to purchase property in Chandler, Gilbert, Mesa, Phoenix, Queen Creek, or the surrounding areas!

Home Buying Advice from our Realtors

1. Be Realistic About Your Budget

Many first time home buyers become so caught up in the excitement of owning their own home that they don’t consider the expenses associated with home ownership. In addition to your monthly principal and interest costs, consider potential repairs and improvements, real estate taxes, insurance, and utilities. Carefully examining these costs can help you avoid financial difficulty down the road.

2. Create a Wish List

Make a list of the features you want in a home as well as those you actually need. Make copies of your wish list and carry one with you every time you tour a home, checking off the items the home is equipped with. Doing so will help you put your emotions aside when comparing homes to better determine which one most closely meets your wants and needs.

3. Consider Your Long-Term Goals

Whether you are planning to remain in your new home for only a few years or for a longer period of time, evaluating your long-term goals is vital. If you are you planning to expand your family you might consider the local school district, area recreational facilities, and the safety of the neighborhood. If your goal is to rent out your home in the future, be sure to contact the homeowners’ association to ensure renting is allowed.

4. Choose Your Realtor Wisely

Many first time home buyers are unaware that realtors are not all created equally. Choose a realtor who is familiar with the local market, who has your best interests at heart, and can best meet your home buying needs. Remember that while a part-time agent who sells real estate on the side may be very qualified, he or she will likely not be able to offer the same level of service as a dedicated, full-time agency.

5. Get Prequalified

Even when you are not completely certain that you will be buying a home in the near future, it’s a good idea to get prequalified for your loan. While understanding the expected debt to income ratios is always a good idea, it isn’t the only factor to consider. Check your credit, clear up anything derogatory when possible, and contact a reputable mortgage lender to find out what options you qualify for. While you may think that you qualify for a $350,000 home, mortgage lenders might think otherwise. Failing to get prequalified can leave you wasting time touring homes that you really can’t afford.

Real Estate Services in Queen Creek, Arizona

We consider each and every one of our clients to be part of the Southwest Mountain Realty family and we treat you that way! Our goal is to find the perfect property that meets and exceeds all of your needs. Our team’s dedication to their clients is the reason why Southwest Mountain Realty has been a real estate company in the Phoenix metro area for more than 20 years. We hope to have the opportunity to assist you in the sale of your home, the purchase of another real estate investment, or to help you buy the home of your dreams!

For unparalleled real estate services, call us at 480-237-9979 if you’re looking to purchase property in Chandler, Gilbert, Mesa, Phoenix, Queen Creek, or the surrounding areas!