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BUYERS!
10 Tips for First-Time Homebuyers:
1. Be picky, but don't be unrealistic. There is no perfect home.
2. Do your homework before you start looking. Decide specifically
what features you want in a home and which are most important to
you.
3. Get your finances in order. Review your credit report and be
sure you have enough money to cover your downpayment and your closing
costs
4. Don't wait to get a loan. Talk to a lender and get prequalified
for a mortgage before you start looking.
5. Don't 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 second
opinion.
6. Decide when you could move. When is your lease up? Are you
allowed to sublet? How tight is the rental market in your area?
7. Think long-term. 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 you'll
buy as well as type of mortgage terms that suit you best.
8. Don't let yourself be house poor. If you max yourself out to
buy the biggest home you can afford, you'll have no money left
for maintenance or decoration or to save money for other financial
goals.
9. Don't be naïve. Insist on a home inspection and if possible
get a warranty from the seller to cover defects within one year.
10. Get help. Consider hiring a REALTOR® as a buyer's representative.
Unlike a listing agent, whose first duty is to the seller, a buyer's
representative is working only for you. And often, buyer's reps
are paid out of the seller's commission payment.
Ken
Asher
Broker Associate
Heritage Realty
5265 N. Academy Blvd.
Colorado Springs, CO. 80918
Dir: (719) 930-7817
or Toll-Free
(866) 930-7817
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