Top 10 Do’s For First Time Home Buyer Georgetown
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- Be picky but realistic. There is no perfect home. Find the balance between your needs and wants and how much you can afford to pay for the home.
- Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.
- Get your finances in order. Review your credit report and be sure you have enough money to cover down payment and closing costs.
- Don’t wait to get a loan. Talk to a lender and get pre-qualified for a mortgage before you start looking. Get pre-approved, check-out my list of great mortgage brokers
- Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
- Decide when you could move. Consider these: When is your lease up? Are you allowed to sublet? When is your “relocating to Georgetown” date?
- Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that suit you best.
- Don’t let yourself be “house poor”. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.
- Don’t be naive. Insist on a home inspection
- Get help. Contact realtor (this is me) who specializes in helping people looking in Georgetown. You need a buyer representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you.
Top 5 Common First Time Home Buyer Georgetown Mistakes
- First-time Georgetown home buyers that don’t ask enough questions more often than not miss out on the best deals available.
- Don’t second guess too much. First-time Georgetown home buyers that don’t make quick decisions end up watching someone else buy the house they want.
- Don’t pick the wrong realtor. First-time Georgetown home buyers that don’t find the right Georgetown real estate agent will have a hard time getting the best options.
- Don’t over-haggle. First-time Georgetown home buyers that don’t do enough to make their offer look good to a seller usually lose out to other buyers.
- Don’t be too hasty. First-time Georgetown home buyers that don’t think about resale before they buy. The average first-time buyer only stays in a home for only three to four years.