10 Tips for First-Time Home Buyers

May 30, 2023
Photo of a house for sale

Buying a home is a big decision, and it can be even more daunting for first-time home buyers. But don't worry, we're here to help! Here are 10 tips to get you started:

  1. Start saving early. The sooner you start saving for a down payment, the better. A 20% down payment is ideal, but depending on the program, you can put as little as 3% down. 
  2. Get pre-approved for a mortgage. This is where we come in!:)  This will give you an idea of the max of your purchasing power.
  3. Find a real estate agent who can help you find the right home for your needs. A good real estate agent will know the market and can help you find a home that fits your budget and lifestyle.
  4. Do your research. Before you start looking at homes, it's important to do your research and learn as much as you can about the home-buying process. There are a lot of resources available online.
  5. Be prepared to compromise. It's unlikely that you'll find the perfect home on your first try. Be prepared to compromise on some things, such as location, size, or features.
  6. Don't get discouraged. The home-buying process can be long and frustrating, but don't give up! With patience and perseverance, you'll find the perfect home for you.
  7. Hire a home inspector. A home inspector can help you identify any potential problems with the home before you buy it.
  8. Get a home warranty. A home warranty can help you cover the cost of repairs to your home for a certain period of time. (The seller usually pays for this)
  9. Be prepared for closing costs. In addition to the down payment, you'll also need to pay closing costs when you buy a home. Closing costs can range from 2-4% of the purchase price, so be sure to factor them into your budget.
  10. Enjoy your new home! After all your hard work, you deserve to enjoy your new home. So relax, unpack, and make some memories!

Ready to learn more?
Speak with one of our experienced loan consultants.

Pacific Coast Home Loans & Realty, Inc. is a Licensed Real Estate Broker, California Department of Real Estate.

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