Rob Thomson of Jupiter Florida Share Helpful Tips for First Time Homebuyers

The thought of owning your first home can be exciting. But part of house ownership is going through the tedious, nerve-racking, and time-consuming process of searching for the perfect home. The whole process is practically a maze where you can get lost anytime, especially if you’re left with no one to give you guidance on how it goes. Thankfully, the realtors at Rob Thomson Jupiter can guide you in the buying process.

Yes, buying and owning a house is a smart decision, but it also entails a big risk and it’s extremely important that you’re aware of what you’re getting into. With that said, here are 6 tips to help you can follow to make homeownership a less bumpy ride:

1. Hire an Agent

Since it will be your first time to buy a house, you’ll probably become overwhelmed with the process of home buying. While it’s not necessary, hiring a real estate agent to help you hunt for houses will be of big help. Here’s why:

• Real estate agents know what’s on the market and can immediately present you with options that fit your parameters.

• They can also get their hands on a listing that’s perfect for you before it hits the market.

• You’ll save time and effort on touring houses because agents can also preview the home for you.

• Agents know which listings are overpriced and which ones are more likely to ruin your financial goals in the long run.

Always practice caution when choosing a realtor. As much as possible, go with an agent whom your friends or family members have worked with in the past. If that doesn’t work, there are a lot of websites that can help guide you to the doorsteps of trusted realtors.

2. Buy According to What You Need

When you decide to buy a house, you’ll be surprised at how many options you will be presented with. There’s a traditional single-family home, a townhouse, or a unit on a multi-residential building. Each has its fair share of advantages and disadvantages, and it’s important to determine what they are so you can carefully examine the choice that will fit your needs.

If you’re looking to save on the purchasing price, fixer-uppers are also a common option. While there’s nothing wrong with turning an old house into your dream home, you may become overwhelmed with the expenses and end up with more than what you bargained for. Just be sure to weigh your options, so you won’t end up with more than what you can handle.

3. Know How Much You Can Afford

Owning a home is expensive. Unlike renting, owning a home means you’ll be the one to shoulder the maintenance and upkeep costs which could add up fast. Unpaid debts won’t only make it harder for you to keep up with the extra costs, but it can also delay your mortgage approval. So, make sure you’ve paid off all your credits before deciding on purchasing a home, or any property in general.

An emergency fund can also be useful in case you fall short on budget. Unexpected costs are common when owning a home and it can easily mess up your monthly budget. However, with an emergency fund, you’ll be assured that you’ll have enough cash to pay for sudden expenses that might come your way. Stress and worry will be off the table.

4. Save up for the Down Payment

It’s always a smarter and practical choice to pay your house in installments than to pay it in full at once. More and more lenders are now allowing people to pay as low as 3% upfront as a deposit. However, if you offer a down payment less than the ideal 20%, this could mean more expensive monthly costs. You’ll also have to pay for private mortgage insurance (PMI) which, combined with the monthly payments, could cost you more in the long run.

5. Visit the Place and Do a Thorough Inspection

The last thing you want is to be locked into buying a home with faulty foundations. The only way to be assured of your decision to buy is to visit the house yourself. By doing this, you’ll have the chance to check if the utilities are in good working condition or spot problems early on before closing the deal. Many sellers usually allow potential buyers to visit the home before making a final offer.

The buyers can also submit a Request for Repair, in case there are issues spotted upon inspection. While the buyers are not obliged to follow it, they’re sometimes forced to agree to avoid blowing the sale.

Make Rob Thomson Jupiter Your Partner in Buying Your Dream Home

The only thing left to do is to hire the professionals who will help you along the way. Rob Thomson Jupiter can assist you in whatever problems you’re having concerning real estate. Waterfront Properties is equipped with expert real estate professionals that will ensure that all your questions are answered and your buying experience will go on as smoothly as possible.