As a first time home buyer, there is so much to know when you are going to buy a home in Encinitas. Having a good real estate agent is the first step to success in buying a home for the first time, as you will gain valuable real estate advice and negotiate the best price available. When you buy a home with me and Coldwell Banker Encinitas, you will be assured to get the best bargains for Encinitas homes, and get the best service to get you moved in to your new home as fast and comfortable as possible.
These real estate tips for a first time home buyer will help you along the way as you buy a home in Encinitas. Remember, there are countless other details and procedures that go into buying a home in Encinitas, so be sure to arm yourself with a good realtor in Encinitas like Linda Moore. Here are the tips to remember for a first time home buyer in Encinitas.
1. Three to Five Rule: Remember that it will take approximately three to five years to build enough equity in your home and cover the investment that you put into your Encinitas house. Remember that you will be here for three to five years, so just keep that in mind as you are looking for a home to buy in Encinitas.
2. Set a (Realistic) Budget: Get with a lender and see how much you can borrow, and create a simple budget plan to follow to make sure you will afford the payments on your home in Encinitas.
3. How is Your Credit Score?: You have seen those annoying credit score commercials, but is your credit score good enough to buy a home? You will be able to see how much your interest payments will be as well, so check on your credit score before buying a home in Encinitas for the first time.
4. Sacrifice and Save: Start putting some rainy day money away now, and a lot of it. Cut back on some expenses, and start saving money to put towards paying extra for your home payment each month. Over time, this will make a huge difference in how long it takes before you pay off the house.
5. All Priorities Covered: Does your home have that fenced in yard for your children and pets? Is there that pool you have always dreamed of in the backyard? How about HOA fees? Be sure to have a clear set list of priorities in the home you want to buy, and weigh them from greatest importance to least importance. You will have to sacrifice some for others in some cases.
6. Home Loan: This is a no-brainer, but it must be stated. You need to get with a lender and discuss how you can get a mortgage for your house. You can negotiate how much your payments can top out at before you cannot afford it, and see how much it will take for you to put towards a down payment.
7. Keep Neighborhoods in Mind: Are schools important to you, or is shopping and a nightlife more your cup of tea? If you are young and single, than a neighborhood of young kids might not be what you are looking for. Your real estate agent in Encinitas will help you find a neighborhood that matches what you need, and then go forth in finding you a home in the neighborhood in Encinitas.
8. Home Inspections are Imperative: You don’t want to go through all the steps in buying a home for the first time only to find out that it is full of hidden problems. Schedule a thorough home inspection to be sure you are not tying yourself to any long term problems with your home.
9. Low but Reasonable Offers: Discuss with your real estate agent a moderate price to offer the seller. You do not want to go too low and lowball the original offer because some sellers may be completely turned off to you afterward. Your realtor will help you negotiate a fair but still manageable offer.
10. Last Once Over: Take a deep breath. You made it. But check to be sure that all your ducks are in a row and all the details are covered. Get your financing in order, contact your insurance agent about home owners insurance, and be sure you have a moving company ready on call.
If you would like to discuss these tips for first time home buyers, and would like to see the homes I have available through Coldwell Banker Encinitas, contact real estate agent Linda Moore, browse through my listings of Encinitas homes, and let’s talk about what I can do to get you the keys to your first home you will buy!