How to Prepare as a First Time Home Buyer

By Taite Carpenter | Realtor

Home buying can be a stressful but rewarding experience, and that is especially true for first time buyers!  There are a multitude of factors that play a role in the buying process and one of the best things a first time home buyer can do is get prepared and be informed of how exactly purchasing a home works.

1. Get Your Finances Looking Pristine

The first thing I stress to first time buyers is to get informed about their own financial situation as well as the current state of the market in the locations they are looking to purchase in.  Learning about financing can be as simple as sitting down with a lender, or several, and finding out what loan programs are available based on your budget, home criteria, and the location of the home.  It’s also important to know what price homes are selling for that fit the criteria you want.  This can help better narrow down your search to more specific towns or neighborhoods that fit both your home preferences and budget.  Getting in touch with a local agent can significantly help improve your understanding of the local market and educate you on where homes that fit your criteria and price range are located in your preferred areas.

2. Ask For Help

The second step is to sign with an agent so that they can provide you with their advice and counsel as well as educate you on the buying process from start to finish! Many first time buyers don’t realize all the aspects that play a role in buying a home as well as who they should be in contact with to help facilitate that process. Sitting down with a real estate agent can help you learn about the ins and outs of the buying process so that you aren’t surprised when there’s more to a home purchase than just submitting an offer.

3. Know The Market

Another great reason to get in touch with a real estate agent is to learn more about the current state of the market in a competitive sense.  As many can see in Vermont, there’s a multitude of buyers with little inventory right now so learning more about how fast you’ll need to move on a property and how to have everything set up to make an offer before you even see a home can be the difference between getting your offer accepted and missing out on the home of your dreams.

Overall, there is a lot to know about the home buying process and being prepared and informed on all aspects of the real estate world will make you feel more confident in your search process and most importantly, improve your chances of success! 

Your friendly local real estate agent;

-Taite | taite@themalleygroup.com