Vanguard Properties
It's already complicated buying a home. Buying your first home can be even more so. There are plenty of guides available for first-time homebuyers to offer advice throughout the journey, but before you get started, there are some key things you can do to prepare. Here's a list of the best things to do before you start actively searching for your first home:
One of the biggest expenses to plan for in buying a home is the down payment. If you opt for paying a larger down payment, you won't have to borrow as much for your mortgage. Larger down payments can also have additional benefits, like securing better interest rates or other favorable terms. Plan to save up enough money to cover a down payment of around 3% of the purchase price and you'll be in great shape to buy your first home.
A buyer's agent will improve and streamline your entire buying experience. A real estate agent will represent you in negotiations and help you with your home search. Their access to special resources and their professional expertise can broaden your possibilities and help you find homes for sale that aren't on the major search portal sites. Working with an agent you trust will take a lot of the anxiety and frustration out of buying your first home.
Finding the right mortgage lender and getting pre-approved for a loan is crucial to the home buying process. A pre-approval serves as proof to sellers that you're financially responsible enough to pay for the house. It also shows that a financial institution has vetted you for things like your credit score, debt-to-income ratio and other factors. Shop around for a mortgage lender before you begin your home search and you'll know how much home you can afford while also improving your chances of a seller accepting an offer.
Buying your first home is a major life event, but it doesn't have to be overwhelming. Use this simple list to prepare yourself for the process and find your dream home.
Selina Zhao is a tech savvy real estate agent who brings over the top-notch marketing strategies, presentation, and negotiation skills to her clients. Selina always stays on top of the real estate market trends and stats. She applies strategies into different market situation and empower her clients to achieve their ultimate goal. During the first year of her real estate career in the Bay Area, she achieved an impressive $22.8M in sales. Selina’s experience on real estate sales ensure her clients get the care and attention they need as they make the crucial decision of buying and selling properties. Selina is vowed to provide excellent service, communication, and always an advocate for her clients.
Selina loves real estate, her career blended in perfectly to her daily life, and she loves to help others to achieve their American dreams. She works restlessly to get the work done. Immigrated from mainland China in 2007, graduated from University of Miami, Selina established her own online marketing company and her real estate career in Miami, Florida before moving to San Francisco in 2017. Her soul of entrepreneurship and cares for others encouraging her to pursue to be the best in the industry. Selina is also a former Miami HEAT video producer, who witness the team winning their 2012 NBA championship at the courtside.