5 Tips for First Time Home Buyers

5 Tips for First Time Home Buyers

Jessica Richardson Real Estate

Buying a home can be anxiety inducing, especially for first time buyers! There are so many factors to consider when buying a home such as neighborhood, mortgages, and repairs, amongst others.

It’s essential to select a Buyer’s agent who can respond quickly in the fast-paced Northern Virginia market. But don’t fret, the Jessica Richardson Team will be with you every step of the way. With 20 years of experience, we will help navigate this complex process and ensure that you find your place in the world.

By following our proven process, which has resulted in over 500+ happy homeowners, we will help make your house hunting experience as stress free as possible.

1.Get pre-approved for a loan, it’s important not to fall in love with a home you can not afford!

We cannot overstate the importance of getting pre-approved for your home loan PRIOR to beginning your search for a house. Searching without a pre approved loan is basically the same thing as searching in the dark because you don’t know where to search. Having a pre-approved loan prior to your search can be the difference between owning your ideal home or not. A pre-approved loan allows potential homeowners the opportunity to know where their credit stands, the price range of the houses they can look at, along with providing stronger negotiating leverage with sellers. In a market such as this, where homes can go under contract within a matter of days (sometimes hours), being pre-approved and having a lender letter to attach to your offer allows you to stand out to sellers. It could be the difference between your offer being accepted or going to the other buyer who is pre-approved.  and make housing offers go a lot quicker and easier by signifying financial stability on the buyer’s behalf.

2. Sit down with your realtor and let them walk through the entire process ~ Buyer representation is free to the buyer

With an abundance of paperwork, prices, and homes, the search for your dream home can be very overwhelming and complex. Having a realtor is the best way to ensure you get the home you want in the most stress free and seamless way possible. From help with paperwork to handling negotiations on your behalf, realtors provide a variety of services to make the home owning process easier. Realtors and buyers work together during this search so it’s important to work with a Realtor who understands what you are looking for in a home and provides top notch service.  A buyer representation agreement legally allows your Realtor to represent you and negotiate on your behalf.

3. Be prepared to act quickly when you find the home you love!

We are finding that even in the “slow” times, Buyers must be prepared to act quickly if they find their dream home within their price range. But it’s essential during the busy Spring season. The DC metro housing market is very competitive and it’s not unusual for sellers to receive multiple offers. You’ll want to work with a Realtor who is available to draft your offer immediately and follow up to ensure your offer is accepted.

4. Once you find your dream home, inspect, inspect, inspect!

A home inspection by a certified and licensed professional is vital to ensuring you are fully aware of the flaws in the house. By having an inspection, it can save you from having to pay for costly repairs after buying the home. Professional inspectors can find issues in a prospective home such as a flimsy structure or leaky roof that can save you up thousands of dollars in potential repair costs. We highly recommend having an home inspection contingency on any offer.

5. From contract to closing, there will be a multitude of deadlines to meet and we will keep you on schedule!

No matter where you are in the home buying process, there will be deadlines you must meet prior to settlement day. Meeting your deadlines is important in order to not delay the process any further or jeopardize the entire deal. We have a team of experts who will make sure each and every deadline, addendum and inspection is met. The Jessica Richardson team will work hard to ensure all of your materials are in order well before the needed deadlines. With over 20 years of real estate experience and over 500+ clients, we know how to make this difficult process easier for you.  We aim to provide the highest quality service to our clients in order to fit any real estate need they might have!

About the Author

Jessica Richardson

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