Buying your 1st home can be a daunting task and is one of the most important decisions a person can make in their life. We have come up with some important tips that you may want to consider before taking that leap of faith of becoming first time Jacksonville home buyers.
How Much House Can You Afford?
This is one of the most important aspects for first time Jacksonville home buyers. The first step before you go out and call a realtor and go looking at houses is to have an idea of how much you can afford to spend on a new home. Everyone knows how tempting it is to pick out your dream home and falling in love is so easy. Most first time home buyers get emotionally attached to a home which is why we suggest looking at all financial aspects before even shopping.
Most financial institutions are now requiring at least 20% down and we advise consulting with a financial planner before making any crucial decisions. A financial professional will be able to help with any credit questions or concerns as well.
Check Other Home Comparables:
Now that we know how much we can comfortably spend, it’s time for Step 2. First time Jacksonville home buyers will want to either check with a realtor or check online to see how much homes are selling for in your new area. Seeing and checking out how much houses have sold for is needed to give you an idea of how much house you can afford. This will also help first time Jacksonville home buyers know the correct numbers while negotiating with sellers. Many first time buyers can use free sites, such as:
These and other sites are very useful in providing other information such as schools and near by attractions.
Finding & Getting Qualified for Financing:
In this current market many deals cannot be processed because first time Jacksonville home buyers cannot find anyone to approve the financing. We would advise getting pre-approved to avoid any wasted time & energy in house shopping. Any first time Jacksonville home buyer should get 3 or 4 lenders to compare rates and terms. This may take extra time but will be well worth the time and effort later. A pre-approval should be good for 90 days. If for some reason a first time Jacksonville home buyer cannot find a home during that time, they would have to re-apply. Also one last tip…if a first time Jacksonville home buyer is approved for a certain amount, they do not have to spend it all. Find a home that meets your needs and wants and remains affordable.
Get the Home Inspected:
A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a licensed home inspector who has the training and certifications to perform such inspections. The inspector prepares and delivers to the first time Jacksonville home buyer a written report of findings. You will then use this knowledge gained to make an informed decision about your pending Jacksonville home purchase. The home inspector will describe the condition of the home at the time of inspection but does not guarantee future condition, efficiency, or life expectancy of systems or components.
Do not skip this small but very important step.
Pick A Real Estate Agent:
As we all know there are plenty of Jacksonville Real Estate agents out there that are willing and eager to help you find a home. We recommend any first time Jacksonville Home Buyer to talk with recent clients, look up their licensing & pick a winner. A first time Jacksonville home buyer does not want the agent who sells as a hobby but the agent who wins awards for closing and selling deals.
This will be one of the greatest times in your life as a first time Jacksonville home buyer. Follow these steps and be on your way to your first Jacksonville home.