Ro Troia

How To Find Your First Home

Recently, I have met several first time home buyers in Boulder Colorado who are experiencing difficulty finding the real estate of their dreams.  Couples who have everything in common find themselves disagreeing when it comes to home shopping.   While we have never ending similarities with our significant other, finding commonalities on house criteria vary tremendously.  What should first time home buyers do?  Let me help you begin.

Step number one: Find a trusted real estate agent to work with.  They can help you narrow your search, make the offer, and walk you through the home-buying process.  Your agent will take you on private home tours, handle all necessary paperwork, and negotiate the best price for you. You should also do your own homework on the side, such as driving through prospective neighborhoods.

Secondly, prequalify.  You can’t begin your search without knowing what you can and want to afford.  Usually your real estate agent can recommend a great mortgage broker.  Shop around and be prepared.  Read up on financing options such as FHA loans, fixed rate home loans, and loans that include low down payments.   Familiarize yourself with terms that are commonly used in the housing and mortgage industries and I suggest meeting with three different loan officiers in order to find the right deal for you. 

Next, make a list with your significant other that summarizes the necessities of the home you’re looking for.  For example, I just met a newly married couple ready to buy their first home together.  He wants to be downtown where you get less square footage but more culture and she wants to live in the suburbs where you get more house for your money.  These newleweds need to sit down together and make a list.  How many bedrooms and baths?  Square footage?  Yard, garage, basement?  Sometimes the perfect location means less bathrooms.  Be realistic.  If your agent is telling you that the criteria doesn’t fit with the location – listen. 

Recently, I have found that I’m the one explaining this to first time home buyers who think they can have it all.  She wants 3000 square feet and he wants to be downtown.  Well, if you have a budget, it doesn’t work this way.  Let your agent help you narrow down your search and be open to other neighborhood options. 

 But don’t worry, it is possible to find a win-win situation and the dream home you both agree on.

Tags: Tags: agent, boulder colorado, first-time home buyers, location, mortgage, real estate

This entry was posted on Monday, September 8th, 2008 at 4:55 pm and is filed under Buyer's Corner, First Time Buyers, Focus on Boulder. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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