Buying your first home? Follow this First Time Buyers Guide

Buying your first home can be a daunting experience, from finding the right location, getting approved for the mortgage, to actually filling your home with the essentials for living. When you find somewhere you like, it’s important to make sure you ask as many questions as possible, and you may find you get different answers from the owners themselves and the real estate agent.

Top questions to ask the owners are:
• What are the neighbours like?
• Do they feel safe and secure?
• Is the area quiet?
• What are the traffic levels?
• Which direction does the house or garden face?
• What is the local area like for general amenities and schools?

Top questions to ask the estate agents are:
• What is the overall condition of property?
• Are there any structural problems?
• Are there any wiring, electrical, plumbing, woodwork issues?
• Has the property been damp proofed and does it have sufficient insulation?

Once these questions have been answered you can move on to more in depth questioning . The following questions will enable you to find out how much you can negotiate on price:
• Are the sellers looking for a quick sale, and what are their reasons for moving?
• Do the current homeowners have somewhere to move to or are they still looking?

It is important to ask these questions in order to ensure you are investing in the right area and property, and that you are getting the very best for your money. In this day and age it has become increasingly difficult to save for a home, and unfortunately it is almost a necessity to have a deposit of at least 10%.

One critical detail first time homeowners need to consider, are the extra costs associated with buying a home.Not only do you have the deposit to organize, but there are legal costs, the property survey, mortgage arrangement fees, and insurance, followed by the maintenance involved in owning your home.

Do not let the home buying process intimidate or frustrate you, following this first time home buyers guide can relieve you from unneccessary stress. There is a real sense of pride, achievement and independence once you finally become a homeowner. You have the freedom you desire and you can make it feel like a ‘home’ rather than just somewhere you live.

Want to find out if you have what it takes to be a Real Estate Agent or Broker?

About David GoldsteinDavid Goldstein is an Owner and Founding Partner of Colibri Real Estate, LLC. which operates online education providers Colibri Real Estate, Insurance License Express and License Tutor. Follow him on Twitter.

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