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If you’re buying a house for the first time, you’re likely a combination of giddy and overwhelmed. You probably have many questions with little idea where to start. New home buyers in the metro Denver area know they can trust Cheri Long, owner of Metro-Brokers Priority Properties, Inc., to answer those questions. Check out her important tips to get prepared for your big purchase. 

Top 5 Tips for Buying a House for the First Time

1. Make Your Must-Haves List

In today’s market, houses are as diverse as their buyers. Before stepping foot into a potential home, it’s important to understand which features you cannot live without. For first-time buyers especially, a list of must-haves can save you time by keeping you from touring houses for sale that don’t meet all of your requirements. Be flexible as you search and be aware that a low inventory of homes limit could your final choices.  

2. Plan Your Down Payment 

When figuring out what features are a must, you’ll also need to determine where the down payment will come from. Most first-time buyers aren’t fortunate enough to have stacks of cash in the bank, so a solid savings plan is key. A financial professional can help you determine your down payment goal and formulate the plan.

3. Do the Real Math 

buying a houseQualifying for a loan will tell you how much a bank is willing to offer, but that doesn’t mean you can necessarily afford it. New buyers must understand their home purchase in the context of other debts, such as school loans or credit cards. The easiest way is to determine your monthly mortgage payment, and then compare that with your income and other expenses. Cheri Long’s website has a user-friendly Quick Qualify tool to get you started.

​​​​​​​4. Do a Credit Check 

Ideally, you’ve been monitoring and maintaining good credit as a long-time practice. Lenders will use this number as an important factor in qualifying you for a home loan. Banks look for individuals who make timely payments and don’t use the maximum amount of their credit limit. 

Fixing bad credit is tough, so if your credit could impede buying a house, speak with a professional long before the purchase. 

​​​​​​​5. Hire an Excellent Agent 

Hiring a real estate agent is a great way to avoid first-time mistakes. However, not all agents offer the same expertise. Do your research to find previously satisfied clients and current licensing. Additionally, the best agents go above and beyond to maintain up-to-date knowledge and best practices. Cheri Long has obtained additional certifications and maintains membership in the National Association of Realtors (NAR). 

Armed with these tips, buying a house for the first time doesn’t need to be overwhelming. An experienced agent like Cheri Long, owner of Metro-Brokers Properties, Inc., has unmatched knowledge of Denver real estate and has been helping buyers like you find their dream home since 1993. Ask questions through her website or give her a call at (303) 263-2072 when you’re ready to find your next home. 

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