First-Time Home Buyers

If you are a first-time homebuyer, use the guide below for helpful hints and tips and learn to avoid common mistakes when buying your first home in Hutto, TX.

Pre-Qualification:

Meet with a mortgage broker and determine how much you can afford to pay for a home.

Pre-Approval:

While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You'll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal, and lenders will usually permit you to pay them when you close your loan.

List of Needs & Wants:

Make two lists. The first should include items you must have (i.e., the number of bedrooms you need for the size of your family, a one-story house if accessibility is a factor, etc.). The second list is your wishes - things you would like to have (pool, den, etc.) but unnecessary. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.

Representation by a Professional:

Consider hiring your real estate agent, one who is working for you, the buyer, not the seller.

Focus & Organization:

In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Such things may include:

• One or more detailed maps with your areas of interest highlighted.
• A list or file of the properties that your agent has shown to you.
• Paper and pen for taking notes as you search.
• A camera to snap pictures of homes you have toured to help you remember your favorites and features you liked.

Visualize the house empty & with your decor:

Are the rooms laid out to fit your needs? Is there enough light?

Be Objective:

Instead of thinking with your heart when you find a home, think with your head. Does this home meet your needs? There are many houses on the market, so don't make a hurried decision that you may regret later.

Be Thorough:

A few extra dollars well spent now may save you significant expenses in the long run. Don't forget such essentials as:

• Include inspection & mortgage contingencies in your written offer.
• Have the property inspected by a professional inspector
• Request a second walk-through to take place within 24 hours of closing.
• You want to check that no changes have been made that were not agreed on (i.e., a lovely chandelier that you assumed came with a cheap ceiling light has replaced the sale).

All the above may seem somewhat overwhelming. That is why having a professional represent you and keeping track of all the details is highly recommended. Please get in touch with us directly to discuss any of these matters in further detail.