1st time home buyer...?

Question

I'm just starting my quest as a first-time home buyer (US-NC). Any advice to pass along to a "rookie"?

Answer 1

Number one, use a realtor that you like and trust. Get recommendations from people. Get your loan approval before you start to look.

Be realistic about what you want and can afford. A good realtor will send you out to look at houses that are above and below your price range, so you get an idea of what's available.

Make a list of what you absolutely have to have, and what you can be flexible with. That way you won't get star struck by a nice yard but a lousy kitchen, for example. Or vice versa.

Know that it's going to take some time. Be patient. I looked for five months before I found The House.

Oh, and if anything about the neighborhood looks odd, check with your realtor. I got a nice "view" house, but didn't ask questions about some construction going on. The seller did not disclose that the house across the street was adding an extra story--which removed my view. (And yes, I did sue for the lost value of my house--and won.)

Answer 2

slowly go through the houses that you look at. The realtor will try to rush you so you won't notice as many bad things about a home. I was so excited to buy my first home i wore rose colored glasses while checking out homes. Now that I have been in my house for 2 years I have started to notice little things here and there that are wrong. Not that much of a problem until you start to add up how much they will cost to fix. I wish I could go back because I would so not buy this house.

Answer 3

Drive around in neighborhoods you want to live in and look for signs then call those phone numbers if you want to see the houses. Look in papers and real estate magazines first to get an idea of what you want. Figure out how much you can pay per month. Try going to "open houses" which is when they keep houses open for people to come look at them. Once you know your target neighborhoods and price range you can look for a real estate agent. Pick one that has lots of houses for sale in that neighborhood (from reading the signs). Don't forget to check the school districts and visit at different times of the day.
Or when it is raining to see how the drainage works.

Answer 4

drive around the potential house at night, on a weekend.
ask the neighbors after you leave the Realtor.
drive from the possible home to work and back at rush hour.
Drink a lot of chamomile tea and remain calm.
budget twice as much as you think you need for furnishing.
Budget three times as much as you think you will need for repairs or improvements.

Answer 5

The advice my mother gave me has served me well: "No matter what else, pay your house payment. You will find the money to eat if you are hungry. You can survive for a while without utilities. If you always pay your house payment first, you will always have a roof over your head."

Answer 6

An in home inspection is key, you may think you've found the home of your dreams, but that home could have severe water damage or mold that is hidden under new carpet or laminate. It costs extra but is well worth it in the end.

Answer 7

I just bought my first home in TN. I looked at several houses before I found the one that was for me. There are alot of real estate agents out there that are just in it for the sale. Don't let them push you. Take your time & Good luck!

Answer 8

YES, If you make at least a double payment with your first payment you will knock a lot off of your Principal

Answer 9

remember you are the boss, make sure you do research,dont let anyone tell you what you need or want. talk to your bank 1st they want you in a home you want to keep and can afford . they can also refer you to trusted realtors, home inspector,insurance,lawyer.
,etc.