8 Things You MUST DO Before You Buy Your First Home!
Ready to buy your first home? Woah Woah! Rein it in! Let's make sure you're ready!
Here are 8 steps you MUST TAKE before you buy your first home as a first time home buyer!
Without these 8 steps, you could be stuck behind the crowd or get stuck unprepared while your competition snaps up the home of your dreams!
It's imperative that you get your financing in order before you even look at homes. Make sure you also take note of the potential monthly payments you're up against with the different price ranges. You're going to be paying this mortgage off for 30 years, so stretching your budget beyond what you're capable of sustaining, or buying a home where the rents don't cover the mortgage is a death spell.
Next, understand EXACTLY what it is you need out of a home! Make a list of 10 things you want in a home, then pick 5 things you absolutely need. This will help you make quicker decisions on whether a home is for you or not.
Then INTERVIEW INTERVIEW INTERVIEW! Don't just pick the first agent you hear about! It's so imperative you vibe well with the agent and have a good working understanding with them.
Next, be open to the possibility of buying a fixer upper you can tailor into your dream first home. This way, you can build some instant equity which will put you years ahead in your homeownership journey!
Finally, don't expect your first home to be your dream home. Remember, you're in the beginning of your journey, and as you build equity you will see the amount of money you will make over the years, which will help you eventually get into the home you've always dreamed of. But what's important is that you just get started!
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Eddie Fallah
DRE 01969011
Compass Realty
0:00 Introduction
0:13 Call A Lender
0:41 Understand What You Want Out Of A Home
1:11 Interview Agents
1:50 Focus on Monthly Payments
2:29 Drive The Area
2:48 Don't Buy The Brand New Home
3:27 Live In The Home First
3:55 Don't Look For Your Dream Home