Landing the right property in our current market is tricky. Homes are staying on the market for a very short amount of time. In most cases listings are under contract within a day or two and for very desirable properties, time on the market is down to hours.
To secure a property that matches your wish list, or at least checks most of the boxes, buyers need to be prepared to act fast. It is important to layout your strategy ahead of time which is something I love helping buyers, sellers, and investors do.
It is especially rewarding to be part of a first real estate purchase which can seem daunting. There can be a lot of anxiety associated with entering the real estate market for the first time which is one of the barriers to beginning the process. While the process can be complicated, it is often fear of the unknown that is most challenging.
A reliable and knowledgeable real estate agent will take the necessary time to walk you through each step and assess any challenges you might encounter. For each potential challenge, your real estate agent should be armed with various solutions which helps to filter out the noise.
To hire an agent that matches your need, I recommend approaching it as a job interview. Here are some questions I recommend you ask in the interview:
If the answers satisfy your expectations, then you have likely found your agent and will be on the path to finding your dream home.
There is a special program for first time homebuyers through Idaho Housing and Finance Association. Program features include competitive interest rates, down payment and closing cost assistance, potential reduced mortgage insurance, and tax credit programs. Additionally, the program has income, purchase price, and credit score requirements. This program is intended to make the first purchase more accessible for buyers and it’s worth your time to consider whether it is a good match for you.
Like other major purchases there are a few savvy shopper tips that apply to buying your first home. Here is my savvy shopper list:
When a real estate purchase is in the near term, it is important to make sure you are paying bills on time and not financing other large purchases like cars or appliances. Taking out new credit cards during this time is ill-advised as well. Each of these things can affect your credit score.
This is a long-term commitment. Homes do not come with gift receipts to be returned after 30 days. Make sure you understand what you are buying, and it is what you want but more importantly, what you need.
If you are considering your first real estate purchase, please connect with me through my website or on social. I am available for general questions or to map out a plan to move you closer to your first home purchase. Let’s talk!