Individuals on the path to a first-time home purchase are often overwhelmed the amount of information they must arm themselves with before they buy.  That why we compiled a few of our top tips to share with first time home buyers.
Over the next few weeks, we’ll be rolling out advice that makes a real difference when finding your perfect home!
Don’t Assume foreclosures are a great deal.
Keep in mind that after the housing bubble burst home values have slipped in most markets. Just because a house was valued at $400,000 when the bank took it over, doesn’t mean that it’s worth that much today. Also, most homes owned by banks have been sitting vacant for period of time. Sometimes that means months and sometimes that means years. These vacancies may lead to necessary and costly repairs.
 Don’t look outside of your budget! 
While looking at beautiful homes that aren’t in your budget may seem like a fun way to add a bit of kick to your house hunting, you will likely end up falling in love with a house you can’t afford.  Once that happens, even a beautiful home in your price range may disappoint. Remember, you set a budget for a reason!  As first time home buyers, you will have enough stress (though a good real estate team can help).  Don’t add any more!
Find a good mortgage professional 
There are a lot of mortgage options out there that let you do everything online.  Younger buyers are especially tempted by companies such as Quicken that let often handle your entire loan online.  However, these sites are notorious for poor service when it comes to personalized loan questions.
To ensure that you don’t get stuck in a one-size-fits all loan program, it’s important to find a professional that actually knows you and cares about your needs.  You can find out more about that here.