Any tips on buying your first house?

Question

I've already been pre-approved and i'm looking for a house, I'm starting to feel sick to my stomach...any tips?

Answer 1

1.Relax, take some deep breaths.
2. Take your time.
3. Location. Location. Location. It's true.
4. Do you research and get a GOOD HONEST home inspector who will THOROUGHLY inspect the house. (If seller won't let you inspect, don't buy). Don't feel silly, inspect everything. Flush toilets while water is running at sink or shower, see if the pressure drops, etc. Know that there will always be something to repair.
5. Figure out what you can actually live with payment wise + property taxes, insurance, maintenance, repairs, moving expenses and anything else you can think of. They always approve you for more than you can really afford. You don't want to have a house and NOTHING else.
6. Know that unless you specifically hire an agent who is buyer only, the agent is working for the seller. Even if you get an agent, they're getting their commision on the price of the home. The high er the price, bigger the commision, not the best deal for you.
7. drive by at different times of day/night. Ask neighbors about the neighborhood and house.
8. If you have kids think about schools and if they are good.
9. take your time. Make a list and take pictures if you can of specific things you like about different houses. You can make a list of have-to-haves, like-to-haves, and definite don't -wants for your dream home. That will help agents look too.
Have fun!

Answer 2

There's no rush. Take your time. Don't spend too much time with a real estate agent. Look online and especially drive around in neighborhoods and see what neighborhoods you like. Make sure you feel like you can afford everything (they will approve you for payments you cannot possibly make and actually eat and live). Go to open houses and get an idea of costs and stuff. There is no rush. Just keep looking until you find the perfect house for you. That you can afford. It's a very emotional situaitoin and a house is a lot of responsibililty compared to renting. So it's normal to feel a little discombobulated, just like getting married or something, it's a big committment. Be realistic, check the house over for things like drainage, plumbing, heat & air, roof integrity, planes or trains that go nearby, go at different times of the day etc. Talk to the neighbors to get an idea of things. No house is perfect. Good luck.

Answer 3

Do homework, don't rely on the real estate agent, he will say anything to get his commission.
Get a home inspected with a licensed home inspector. and walk through the house with him, have him explain things if you don't understand.
Look at the house several different days, you always like the house the first time, see if you feel the same way the next day, you will see new things the second and third time.

All houses have problems, it is just the matter if you can deal with them.

pre-Congratulations

Answer 4

Absolutely "background check" your Real Estate agent. There have been a lot of reports of unscrupulous behavior with RE agents lately. You need to have absolute faith in him or her, so you need to reference check the company and agent with both former sellers and buyers. It is a bit of work, but trust me, you want to know.

Do this one, too; when you find a house that you can afford and it meets your basic needs, spend a good hour imagining how you will furnish it. It will become an extension of your personality. If you can imagine how it will express your personality then you will not suffer buyers remorse a little later on.

Trust your RE agent on the negotiations provided you’ve done your check on them. I hate to concede it but RE negotiations is best left to experts. Don’t let yourself get talked into a deal that gives you a bad feeling. But a good RE should know how and where to give and take. You and the seller need to have some skin in the game.

Good luck.

Answer 5

pre approval is just a come on. the real approval is yet to come...

you better have very good credit ... with a high credit score... very few credit cards and low balances on those.....