Being a first time homebuyer is exciting! But we also know that it has the reputation to be extremely overwhelming—especially in the fast pace Snohomish County market and how quickly these homes can move! That’s why it is so important to interview real estate agents and find one that is not only the perfect fit for you and your family but is experienced and willing to hustle for you! I’ve asked one of our buyers agents, Brett Ahlin who often works with first time home buyers, to give some tips to help any of you who may be interested in starting the process.
- Meet with a lender. The role a lender plays in the home buying process is one of the most important, because they are the ones who will tell you what you can qualify for. You don’t want to have your heart set on a home for $450k when you realistic budget is max $400k. Based off your income, debt to income ratio and other financial factors, the lender will approve you for a purchase price.
- Meet with a real estate agent. Why? Because this is our full time job and we are experts on the market! We can drive you around the best neighborhoods in your price range while answering any questions you may have throughout the entire process. You are in good hands the whole way through!
- Do a vision board of your dream home. Print pictures of spaces that you have been dreaming about, write down the things that are the most important to you. This will not only help you visually see exactly what you are looking for but will also assist your agent during their search!
- Go to open houses and do drive bys. The best way for you to find out what’s important to you and what you like or don’t like, is seeing what is currently out there. Drive through the different neighborhoods, attend open houses—really get a feel for what you like to live around.
- Save for closing costs. Closing costs are fees associated with your home purchase that are paid at the end of your real estate transaction. Closing costs can include: loan origination fees, appraisal, title and escrow fees…etc. These are roughly usually around $8k-$10k.
- Do an inspection. This is SO important! A home inspection professional will check the condition of the house before you, the buyer, move forward in the process. They will check everything from the roof, crawl space, heating and cooling systems, to plumbing and electrical issues in the home. You can expect your home inspection to cost around $450-$500 dollars, and is absolutely worth it to ensure you are getting into a home with no issues.
- Attend a first time home buyers classes. These classes walk you through the entire process and cover topics like budgeting, credit, how to work with a real estate agent, the entire closing process, etc… This gives you a chance to learn more about the programs that you qualify for and a place to ask all your questions with people in the same part of the process as you.
We hope this list gives you a glimpse into the home buying process! Our team is committed to making this experience fun and stress free so that you are able to focus on living your life and the excitement of moving into your dream home.
We would love to help you get started in the process because who you work with matters! Let’s meet for coffee 🙂