Buying your first home is an exhilarating experience. However, it may seem intimidating if you don’t know what to expect. From securing a mortgage to signing the closing papers, this complex process is made easier by taking certain steps beforehand. Here are four tips to keep in mind when you’re ready to buy a house. 

4 Helpful Pointers for First-Time Homebuyers

1. Hire a Real Estate Agent 

Real estate agents have expert knowledge and insider access that can streamline the buying process. These professionals will find listings that match your preferences, arrange showings, and assist with negotiations and paperwork. Because their fees come out of the selling agent’s commission, their services are very affordable for buyers. 

2. Set a Budget 

Determine in advance how much you want to spend. Establishing a budget first will narrow your options and reduce the risk of financial strain down the line. Make sure the amount you spend incorporates mortgage payments, taxes, and insurance. Generally, housing costs should be 30% or less of your total living cost. 

3. Get Pre-Approved 

Before you start searching for your new home, it’s beneficial to get pre-approved for a mortgage. Securing financing is often time-consuming, but getting it taken care of gives you a better idea of how much you have to spend. Sellers are also likely to take your offer more seriously if you’re pre-approved. Be sure you have enough money saved to put down at least 20% of the mortgage total. 

4. Have the House Inspected

Having the house you’re interested in professionally evaluated can pay off in the long-run. The inspector will tell you about any issues with the house’s foundation, floors, walls, HVAC, plumbing, and electrical systems.

If any issues are found, you may be able to negotiate for a lower price with the seller. Your real estate agent can recommend inspectors and help you determine the best way to address potential problem areas before you officially buy a house. 

If you’re planning to buy a house in the Greensboro, NC, area, turn to Jay  Brower - Allen Tate Realtor. Since 2011, this reliable realtor has helped residents and business owners throughout the Triad area secure homes and spaces that suit their needs. Call (336) 337-1887 to schedule a consultation or visit the website to see current real estate listings and learn more about the agency.