Dear First Time Home Buyer, Choose Your Friends Wisely

Meet your new best friends – your real estate agent and your lender.

When you make the decision to purchase a home for the first time, there are so many emotions that can run through your mind. It’s as if there is a melting pot full of feelings all fighting to be let loose at the same time; a mixture of excitement, joy, and elation fighting with anticipation, anxiety, and worry. But buying your first home should be a joyful and empowering experience, and if the right steps are taken, it will be!

RESEARCH: First, do your research and work with a professional. It’s not a bad idea to take a look at different realtor’s websites and profile pages. This will give you some insight to what kind of person they are and perhaps learn that you share common interests or hobbies with them. After finding a few, give them a call and see who follows up with you. Communication is crucial and if a prospective realtor does not return your phone calls or emails, you can bet your bottom dollar they won’t be doing their best in helping you through the process.

Take the time to meet with lenders. Building a good relationship with a mortgage lender is important. A lender may come into the picture before you even talk to a realtor. Lenders are a great resource not just for helping you obtain a loan, but giving you advice of what financial steps need to be taken in order to obtain a loan if you are not yet eligible. They are there to help you; take advantage of their advice and put it to action.

So now you have a realtor and a lender, or what some could testify as their two new best friends! The journey of purchasing a home for the first time can now be the happy and joyous experience it should be.

DON’T RUSH: The most common regret I hear from first time home buyers is that they rushed into making a decision and don’t like their subdivision or would have chosen a different zip code to reside. You find your dream home that has everything on your wish list you are filled with excitement, you move in, time passes and you think; if only I could take this house and move it to that location. Be honest with your realtor about what it is you like and don’t like about a property. If they are good at what they do, your agent should be able to find you that dream home you love in a location that you love too!

COMPROMISE: Make a list of the features that are important to you and then rank them. Unfortunately, a lot of us have champagne taste on a beer budget. Recognize that you may have to sacrifice some of those items on your list, but keep in mind what is most important to you.

Enjoy the journey and let it be a positive and memorable experience. Having a good lender and realtor by your side can guide you in the right direction and help alleviate any anxieties. Working with the right professionals is key. Get connected with the right fit, have fun, and live without regrets!

Amber Warrington is a Broker with Nest Realty, Wilmington. You could say she began her real estate career at the ripe old age of 5 when her literature of preference was Architectural Digest. Over the years she has quenched her thirst of knowledge by working closely with developers, builders, first time home buyers, and relocators. 

Photo credit: David Goehring

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Posted in Asheville, Charlottesville, Fredericksburg, New River Valley, Wilmington
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