Thursday, February 2, 2012

First Time Home Buyer Tips

Tips for First Time Home Buyers in and around the Houston area.

Buyers who are planning the purchase of their first home continue to have a wealth of opportunities in today’s marketplace. In and around the Houston area including Cypress, Tomball, Spring and The Woodlands there are some great opportunities to get into your new home. We talked about the DAP program in a previous blog. This is a great way to get a little financial help and make your dream of home ownership come true. Interest rates are still at record lows. The cost to rent a home or apartment continues to go up as occupancy rates climb.  
Here are a few smart steps to save you time and money:

Start by shoring up your credit. Make sure your credit history is as clean as possible. A few months before you start house hunting contact a mortgage lender and have them look over your credit report. They will be able to let you know if you need to take care of any unwanted marks on your report.
In an effort to get the best credit score possible you should keep your credit cards with a balance of no more than 10% of the cards limit. You should also have at least two current revolving accounts (credit cards) and one installment account (car payments or major purchases with equal monthly payments).

Get professional help. It’s best to get a Realtor involved as early as possible. A Realtor will offer you professional advice and assist with the entire process. TEAM TEXAS feels that it’s never too early to contact a Realtor. If you’ve started looking at homes online, it’s time to get help. You definitely want to have a Buyers Representative. This shouldn’t cost you anything. The agent’s commission is typically paid by the seller. Keep in mind that if you are calling the agent that has the home listed to get information about the home…this agent already represents the seller and they are keeping the sellers best interest in mind. A buyer’s agent will have your best interest in mind and that’s what you need, someone who is looking at for YOU.
Even if you are considering buying a new construction home, it will benefit you to have a Realtor representing you. Remember the sales rep at the model home works for the builder. See what our clients have to say about us here.

Hire a home inspector. Armed with a home inspection report, you’ll be able to move into your new home with confidence—or have your Realtor negotiate the necessary repairs for you. You definitely don’t want your dream home to become a nightmare. Make sure that any issues are addressed quickly.

Bonus tip: Be patient – buying a home is one of the largest purchases most people will make in their lifetime. The key to avoiding buyer’s remorse is to be completely comfortable before signing on the dotted line.

Feel free to call anytime with questions 281-213-9296

Make it a great day!

Debbie Jackson

Member of Team Texas
with RE/MAX Realty Center - Cypress


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