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First Time Home Buyer
The excitement and anticipation of owning your own home for the first time can be a feeling like no other. You have probably spent time imagining what it would be like to have your own space, decorated in your own style and shared with your partner or family. Just you, them, your pets and your dreams!
Owning your first home means that you have got your foot on the housing ladder and this is a proud moment for most Americans. When you move into your own home it is the beginning of your own American Dream. The steps for purchasing a house seem simple -- find one, reserve your moving services and move in! However, there could be some problems for first time buyers, but happily, we have the solutions too. That’s where we, at Premiere Properties, come in.
With the recent housing market crash, prices are at an all time low and first-time buyers can take advantage of this. As a first-time buyer the process is much more straightforward than if you were in a "chain" of buyers (with another house to sell), so this makes you the best type of buyer as it offers sellers a quick and easy process. This gives you great negotiating power and leverage so don’t be afraid to use it.
Almost all buyers need a loan, or mortgage, to purchase a home. Fortunately, we can help you to seek out the right people to help you through this process. Current rates are at an all time low – another plus for you! The language used by mortgage brokers can be complicated for first-time buyers to understand. Don’t be afraid to ask for clarity because you need to have a full understanding of what type of mortgage you can get and what the terms are for this loan. Read the small print and seek legal advice if necessary. We, at Premiere Properties, will be there to assist you, too.
First-time buyers often look for bargain priced homes, like foreclosures and short sales. These houses, however, can have significant problems such as mold or foundation issues, so ensure you do your homework and look at the structure of the property thoroughly. Take expert advice on this from your realtor and other property professionals, such as a competent home inspector.
Many homes will need nothing more than a lick of paint and some freshening up but they are sold on a "as is" basis, which means if you discover major problems after you have signed the paperwork, you have no legal route to recompense. Investigate the house before you formally purchase it to ensure that you are fully aware of any repairs it may need and how much these will cost.
Buying your first-home can pose problems but there are always solutions, so speak to your realtor for this expert advice and reassurance. When you wake up in your own home and have that feeling of pride, you’ll know that all your efforts have been worthwhile. Enjoy this exciting start to being a homeowner! Call or email us with any questions. We are always here to be at your side.
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