Great Tips for First-Time Home Buyers!
Buying your first home is an exciting adventure, but it can also be tricky to navigate on your own. As the best real estate team at the Lake of the Ozarks, Your Favorite Real Estate Team is experienced in helping first-time home buyers find the house of their dreams. Today we are covering a few of our recommended DOs and DON'Ts of buying your first home at the Lake of the Ozarks. Keep reading to learn more!
You may be excited to get started on your official home search, looking through listings and photos and imagining your new life in a gorgeous home of your own. However, if you start looking for a home before you know how much you can afford, you could put yourself in a difficult position. You may fall in love with a house that doesn't fit your budget. Instead, shop with a few different mortgage companies to find out what rates and payments you can get. From there, you can easily find out with a little math what kind of house you can afford. Once you have your number, or at least a good range to stay within, then you can start searching for your dream home at the Lake of the Ozarks!
While it is important to have a wish list for your new home, it's also important to know that you may have to be flexible on certain items. As you think about your new home, put some thought into what you actually need and what you simply want. The number of rooms might be a necessity in order to make sure you have enough space for household members, room for guests, and office space. However, genuine hardwood flooring throughout the house may be more of a want. If something can be changed with a relatively simple renovation, then it can probably be put on your wish list instead of your must-have list. Staying open to possibilities could bring you to the perfect home.
When you have decided on a home and start moving forward with the purchase, an inspection will be performed to make sure that the home is in good condition. It can be easy to skim through this document quickly, as they are often very long and detailed. However, it is a very good idea to pay close attention to the inspection report. It should list any issues the home has, both major and minor, so that you are aware of the home's true condition before the final closing. You are able to negotiate with the seller based on the results in the inspection document as well. If there is something you find unacceptable, you can request that the seller fix the issue before the sale is finalized.
Trying to buy a home on your own can be difficult, especially if it's your first home purchase. There are a lot of detailed and legal processes that go into buying a home. A professional real estate agent is incredibly helpful to have on your team! As the best real estate agents at the Lake of the Ozarks, Your Favorite Real Estate Team knows the ins and the outs of home buying. We can professionally guide you through the process so that everything goes as smoothly as possible when you find the home of your dreams. When you're ready to get started, give our team a call! We can't wait to help you buy your first home at the Lake of the Ozarks.
DON'T House Hunt Before Loan Shopping
You may be excited to get started on your official home search, looking through listings and photos and imagining your new life in a gorgeous home of your own. However, if you start looking for a home before you know how much you can afford, you could put yourself in a difficult position. You may fall in love with a house that doesn't fit your budget. Instead, shop with a few different mortgage companies to find out what rates and payments you can get. From there, you can easily find out with a little math what kind of house you can afford. Once you have your number, or at least a good range to stay within, then you can start searching for your dream home at the Lake of the Ozarks!
DON'T Get Stuck on Specifics
While it is important to have a wish list for your new home, it's also important to know that you may have to be flexible on certain items. As you think about your new home, put some thought into what you actually need and what you simply want. The number of rooms might be a necessity in order to make sure you have enough space for household members, room for guests, and office space. However, genuine hardwood flooring throughout the house may be more of a want. If something can be changed with a relatively simple renovation, then it can probably be put on your wish list instead of your must-have list. Staying open to possibilities could bring you to the perfect home.
DO Pay Attention to the Inspection
When you have decided on a home and start moving forward with the purchase, an inspection will be performed to make sure that the home is in good condition. It can be easy to skim through this document quickly, as they are often very long and detailed. However, it is a very good idea to pay close attention to the inspection report. It should list any issues the home has, both major and minor, so that you are aware of the home's true condition before the final closing. You are able to negotiate with the seller based on the results in the inspection document as well. If there is something you find unacceptable, you can request that the seller fix the issue before the sale is finalized.
DO Use a Real Estate Agent
Trying to buy a home on your own can be difficult, especially if it's your first home purchase. There are a lot of detailed and legal processes that go into buying a home. A professional real estate agent is incredibly helpful to have on your team! As the best real estate agents at the Lake of the Ozarks, Your Favorite Real Estate Team knows the ins and the outs of home buying. We can professionally guide you through the process so that everything goes as smoothly as possible when you find the home of your dreams. When you're ready to get started, give our team a call! We can't wait to help you buy your first home at the Lake of the Ozarks.
CONTACT ED SCHMIDT FOR ALL YOUR LAKE OF THE OZARK REAL ESTATE NEEDS
Ed Schmidt, REALTOR
752 Bagnell Dam Blvd. Suite A
Lake Ozarks, Mo 65049
Phone: 573-240-9052
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