If you are buying a home for the first time, you might be feeling a little anxious and nervous about this huge life-changing purchase. It will be the biggest single transaction of your life and we’re here to help you through it. Buying a home is not a simple task but it is easily overcome, if you do some research in advance and come prepared. Our team members and agents stand ready to help you find the home that meets your needs in Maryland. If you’re a first time homebuyer in Maryland, here’s how to buy property like a seasoned pro.
Prepare for the purchase
Before searching through houses on the market and before finding an agent, you should sit down and sort through your finances to make sure everything is in order. It would be very smart to get pre-approved with a lender. This can help you figure out how much you can afford. After looking over your finances and debt, your lender will give you a range of home prices that you can afford. It will be up to you to decide your budget parameters and how much you want to spend on a house. You can also use this preparation time to make sure you have adequate funds for a down payment, closing costs, and additional fees.
Hire an agent
This is a crucial step in the homebuying process. If you think you’ll only need an agent to help you find a house, you’re wrong. In this day and age, it’s far too easy to find the house you want to buy on Zillow. However, the agent will step in with helpful suggestions, observations, and critical advice for submitting an offer and the negotiating process. The agent will work in your behalf, to make sure this deal is in your best interest. As a homebuyer, hiring an agent is free. The agent’s commission will be paid by the seller, so you would be smart to get the best agent possible! You can look through agents on our website and we can assure you that they are all well-equipped to handle your real estate needs.
Find the house and make an offer
Now is the time to find the right house. Before going house shopping, make a list of all the things you need in a home, and a list of all the things you want in a home. Wants are negotiable but needs are not. You need a house with three bedrooms for your family but you want a house with an upgraded kitchen. When looking at houses, be optimistic yet realistic and only look at homes within your target budget unless you want to feel down. Buying a house you can’t afford will only make you miserable, so, don’t even look at homes out of your price range.
Make it through negotiation
Once you’ve found ‘the one,’ ask your agent for help in putting in an offer. When the sellers counter back, be ready for some negotiating to make everybody happy. Before going to closing, it would be smart to have the house inspected for any problems so you can get them fixed before closing. Your agent will be crucial during this step of the process, making sure the house is everything you want and is in good condition.
Be smart during closing
Finally, don’t just cruise through closing. You will have to sign your name about 100 times but you’ll also want to read what you’re signing to make sure you understand it. If you don’t understand something, ask questions. Making it through signing is huge because it means you finally get those keys!
After getting the keys and moving in, don’t forget to take care of routine maintenance in your house and keep it in good shape. Add your own personal touch to really make it fit you and your life. Think about the resale value of your home, but mostly, just enjoy it. When you’re ready to sell, a Bob Lucido Team agent is ready to help you every step of the way!
Buying a house for the first time doesn’t have to be as daunting as it seems. Let our professional staff help you get the job done right the first time. Find the house of your dreams at a price you can afford with the help of The Bob Lucido Team.