In this low inventory Seller’s market on South Florida where houses for sale often receive multiple offers within days of listing, first time buyers might find themselves intimidated by the prospect of taking the important step of purchasing a new home. The many, often complicated, steps to finding a dream home shouldn’t slow first time buyers though. That’s where we come in: as professional Realtors we take care of much of the process relieving buyers of much of the stress.
But here are a few tips and steps that buyers might want to take before entering this red hot market:
Start with a realistic budget. Figure out how much you can afford spending on a new home by getting pre-approved for a mortgage as soon as possible. We can refer you to our team of experts and/or you can shop around and talk to different loan officers to find the best terms for you. Starting a pre-approval process is free and doesn’t affect your credit score. Be prepared to show your financial and employment information to the loan officer but don’t worry, the entire real estate process is conducted by professionals with years of experience and your sensitive information will always remain confidential.
Another important tip is to make a list of the most important, fundamental features you will need in your new home. This will help realtors greatly when searching for the property. Think about why you want to buy a new house. Is it to downsize or do you need more space for your office in home? Do you need a new backyard for your dogs, your kids or partying with friends? Is being close to a good school a primary reason for the move? You might not come up with all your needs immediately but when you think deeply about it you will realize there is much more than architecture and appliance to consider when buying a property.
The last piece of advice is to strictly stay on budget and not to discourage yourself. It might seem frustrating at first when homes for sale get taken off the market so quickly, but with the help of an experienced and professional Realtor you will reach your real estate goals faster than you might think.