10 Tips for First Time Home Buyers
Buying a home is a big responsibility with a Great payoff. Think of the stability and security you and your family will enjoy from owning your own home in Chandler AZ. I’m here to make this a reality and I’ve put together a list of my top 10 tips for new home buyers that will help smooth the process.
1 – Determine Where You Want to Buy: Buying a home in Chandler AZ has proven to be a tremendous investment year after year. Though, I will help and advise you in any Phoenix area market!
2 – Prepare to Compromise: The reality is that you may not find your dream home in Chandler AZ within your price range. Also, your priorities and preferences will be different than any other home buyer. Determine which factors are deal-breakers and which you can be flexible with. Some buyers may sacrifice an extra bedroom to live in a desired school district. Knowing where your priorities are before you get started will help save time and stress.
3 – Know Your Credit Score: Of course, you are more than your credit score as we all know. But that number is your first impression to a mortgage lender. Guard your reputation by keeping your credit score as high as possible and monitor it regularly.
4 – Start a Timeline: Even though it is a “Hot” market, it may take months to find the right home in Chandler AZ. Be prepared to be patient and flexible while setting your goals.
5 – Think Long Term: Will this be your house for the long term or just for a year or two? If you are thinking of this is a starter home, who will be your potential buyers when it’s time to sell? For example if you buy a house in a undesirable school district or on a busy street, this could mean families with children may be off your list of potential buyers. If selling is in your future, always be thinking of your future re-saleability.
6 – Create Your Budget: All the steps in the home buying process are important, and creating and understanding your budget is absolutely, 100% the most critical. Listen closely to what your lender says you can afford and try not to exceed that amount.
7 – Learn About Down Payment Options: Don’t worry if you don’t have 20% to put down on a home in Chandler AZ, there are mortgage products available that allow for as little as a 0% down payment, especially for first time home buyers. Your mortgage lender will help you find a solution that works best for you and your family.
8 – Get a Home Inspection: When you buy a home in Chandler AZ, you want to know exactly what you’re getting. You don’t want to be surprised with hidden damage after you’ve bought the home in Chandler AZ. Remember that no property is perfect. Even newly built houses will have some defects. Jay Mecray will recommend a highly trained and professional home inspector.
9 – Additional Costs of Home Ownership: Additional home costs should be part of the budget we recommend in #6. Some of these home costs, in addition to your mortgage, can include, but are not limited to:
*Property Tax (should be rolled into your mortgage payment, be sure to ask your lender)
*Utility Bills (electricity, water, sewer, trash, etc.)
*Homeowners Association (HOA) Fees
10 – Plan for Home Repairs and Maintenance: In addition to the costs discussed in #9 above, you also need to plan for home repairs and maintenance. These can range from replacing a broken dishwasher to upgrading worn flooring—basically, anything that breaks in the house. This is referred to as deferred maintenance that every homeowner must consider.
I know this list of tips along with my professional assistance will help you with your home-buying process.
Jay Mecray – Ask Jay, Your Personal Real Estate Expert in Chandler Arizona 480-868-3814