Buying a home is an exciting and overwhelming process that can take months or even years to work towards. Buying a home is very different from renting an apartment, and you will definitely need to be prepared before making such a large purchase. If you think you’re ready to buy your first home, here are a few things to consider first:

Have you been Pre-qualified for a Home Loan? – Getting pre-qualified can take only a few minutes of speaking with a loan officer. They can quickly determine how much you can afford based on your annual salary, your current monthly expenses and your credit score. It’s very important to be as thorough as possible when getting pre-qualified, since your mortgage broker will need to see evidence of all of your expenses and incomes for the past few years. Lying about anything in the pre-qualification process won’t help you, since getting pre-approved (and subsequently approved) is when you will need to show proof.

Another important part of getting pre-qualified is to show you are serious about buying a home. Many real estate agents will not shuttle around buyers who have yet to get pre-qualified, since they’ve probably learned the hard way that many buyers have been in no position to buy right now. Some agents will even ask that you get pre-approved, which requires showing proof of income, credit history and so forth. Sellers would also prefer to see that you’re pre-approved, since they may have had experiences with closings falling through due to funding. If you want to be taken seriously by both sellers and real estate agents, get this quick step out of the way as soon as possible.

Have you Done your Research? – Being new to the home buying experience is completely normal. Being new and naïve to the home buying experience can leave you vulnerable to false information, pushy sales people and learning things the hard way. Hiring a reputable and trusted Aurora real estate agent should be your first step in the process, but even that will require a bit of research. Think of home buying like anything else you do in life; you get out what you put in. If you want to stay up-to-date on real estate prices, loan interest rates and your rights as a buyer, it’s important to educate yourself. Talk to friends and family who have undergone a real estate purchase and ask for any and all advice they can give you. Read a few blogs or articles online and you will feel better prepared to make informed decisions.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

Advertisements