for First-Time Homebuyers
picky, but donít be unrealistic.
There is no perfect home.
your homework before you start looking.
Decide specifically what features you want in
a home and which are most important to you.
your finances in order.
Review your credit report and be sure you have
enough money to cover your down payment and
your closing costs.
wait to get a loan.
Talk to a lender and get pre-qualified for a
mortgage before you start looking.
ask too many people for opinions.
It will drive you crazy. Select one or two
people to turn to if you feel you need a
when you could move.
When is your lease up? Are you allowed to
sublet? How tight is the rental market in your
Are you looking for a starter house with the
idea of moving up in a few years or do you
hope to stay in this home longer? This
decision may dictate what type of home
youíll buy as well as the type of mortgage
terms that suit you best.
let yourself be ďhouse poorĒ.
If you max yourself out to buy the biggest
home you can afford, youíll have no money
left for maintenance or decoration or to save
money for other financial goals.
Insist on a home inspection and, if possible,
get a warranty from the seller to cover
defects within one year.
Hire an Alfred Mitchell REALTOR“
as your buyerís representative. Unlike a listing
agent, whose first duty is to the seller, a
buyerís representative is working only for you.
Best of all, buyerís reps are paid out of the
sellerís commission payment and there is
absolutely no cost to you.