How much money are you spending on rent each month? Take that number and multiply it by 12 to figure out the total cost you are paying for someone else’s mortgage. This expense can really add up through the course of a year! If you want to implement a better financial strategy, then it might be time to invest in your first home so your monthly payment goes towards building equity in your property.
The idea of jumping from a rental unit to homeownership can be both exciting and a little scary at the same time. You haven’t owned a home before. But rest assured to know that this process can be simple when you have a trusted real estate agent to help.
Step by Step: Buy Your First Home
Here are a few simple steps to follow if you are ready to consider your options for buying a home:
- Find a Real Estate Agent: One of the biggest mistakes you can make is to buy your first home without the support of an experienced real estate agent. You don’t know much about the industry. That means there are many pitfalls that could be encountered along the way. A real estate agent can assist with negotiations and ensure that nothing is overlooked during this process.
- Financing Solutions: Taking with a lender at this point is a good idea so you know your options for financing. A pre-approval will give you a price range to guide your home shopping.
- Evaluate Your Options: You’ve enlisted the services of an experienced real estate agent. Now it’s time to start looking at properties in the area. Your agent can help you compare local listings to find something that matches your budget and your wish list. Keep in mind that this process can take time to find the perfect home for the needs of your family. But our team stays by your side every step of the way.
- Make an Offer: Once you’ve found the property you would like to buy; it is time to send an offer to the seller. This process is time-sensitive, which means that you shouldn’t delay this decision. Your real estate agent can help you determine the best offer that will appeal to the sellers.
- Negotiate the Deal: If the home sellers accept your offer, then it is time to move into the negotiation stages. There will be home repairs and other details of the contract that need to be worked through. It is essential that you go in with an “eyes wide open” approach so you know what will need to be done after you move in.
If you are excited to buy your first home, then we invite you to contact our experienced team at DUFFY Realty. We offer quality real estate services throughout the Atlanta area: (678) 318-1700.