Many first-time homebuyers want to know the best way to buy a house. While details can vary from one sale to the next, there are some tried and true guidelines for every real estate market. Here are some crucial tips for first-time buyers shopping for a home:
Explore different types of mortgages by comparing conventional and FHA mortgages. FHA loans, offered by the Federal Housing Administration, allow borrowers with a less-qualified credit score to obtain a mortgage with a lower down payment.
Conventional loans offered by banks and other mortgage lenders might have tighter approval requirements, but can have lower interest rates.
Touring houses is an essential part of the home search, but unfortunately not always a practical one. Luckily, 3-D tours and video tours are available for countless listings online, allowing you to visit from the comfort of your own home.
If you're able to attend an open house in person, you'll have the valuable opportunity to explore the neighborhood as well.
A well-qualified property agent understands the current housing market. Their experience and knowledge makes them a valuable partner in the homebuying process. If you're not sure where to start searching for a real estate agent, try asking friends or colleagues for recommendations.
In determining the total amount of money that you're willing to spend on your purchase, make sure to include closing costs. You'll get a quote from your lending agent in advance, but some buyers are still surprised at how much the closing cost actually ends up being.
While expenses vary by lender and location, expect to pay between 3% and 15% of the total purchase price at closing.
Are you ready to get started in finding your dream home? Keep these tips in mind for the best possible homebuying experience.
Nicolette is a full-time licensed real estate agent working with residential and commercial buyers, sellers, and renters. Growing up in Eastchester, graduating from Marist College and branching out to Manhattan before returning to her roots has created deep ties to Westchester while understanding what a NYC buyer wants when relocating to the suburbs.
Bringing nearly a decade of extensive experience in sales, interior design, marketing, and customer service from her Manhattan career while working with esteemed companies such as Elle Décor Magazine and various companies under the Herman Miller brand, Nicolette encompasses an effective fusion of suburban warmth and city tenacity. Her enthusiasm for helping others combined with her determination to close deals helps her simultaneously connect her with clients on a personal level while conducting business in the most professional of ways. It’s this connection that leads to a seamless and successful Real Estate transaction.
When not working, Nicolette enjoys spending time with her family, friends, and puppy. Professionally, she prides herself using those same personal values of loyalty, honesty, attentiveness, and being detail-oriented. She values all client relationships and makes it her goal to provide exceptional service and guaranteed satisfaction. Her intimate knowledge of the area, having lived in Westchester all her life, gives her enthusiasm and a desire to make her home, your home.
In July 2015, Berkshire Hathaway Home Services (BHHS) acquired Tri-Crest Realty and Prudential Centennial Realty and has been one of the most successful offices in lower Westchester County since 2000. With over 1,800 Realtors in 55 offices in the Northeast and 51,600 agents in 1,600 offices in 47 states nationally, BHHS is the #2 company in Barron’s ranking of the world’s most respected companies; ranking #3 in Fortune Magazine’s 50 Most Admired Companies survey.