A Few Things for First-Time Homebuyers to Know

Wilmington Real Estate Podcast with Andy Richardson

I’ve come to find that many first-time homebuyers simply don’t know a lot about the home buying process. Here are some things everyone should know about buying a home.

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When you’re looking to buy your first home, there are a number of things you need to keep in mind throughout the process.
The first thing you need to determine is if you are actually ready to buy. It’s a big step, and you’ve got to be sure you’re financially ready to do so. Extra costs can pop up during the transaction, so you’ll need to set aside some extra cash, probably more than you were planning on initially.
The next step you need to take is talking to a lender to make sure you qualify for what you want to buy. After that, you need to consider the resale value of the homes you are looking at. Even if you don’t have kids, the school district that your home lies in impacts your home’s value and may matter a lot to future buyers.

Pay special attention to your home’s structure.

The next thing to pay attention to is the overall structure of the home you’re looking at. If there are any major repairs that need to be done, those will come to light during the due diligence period when you have your inspection done. In North Carolina, you have the right to terminate the contract for any reason during the due diligence process and you’ll get your earnest money back.
Finally, you want an agent who is an expert in the areas you are looking in. Only then will you be able to find someone who can negotiate the best deal possible for you. At our office, we set our buyers up to succeed by providing them with updates directly from the MLS when a home that matches their specific criteria hits the market.
If you pay special attention to these things throughout the home buying process, you should walk away with a great deal on a great home. If you have any questions for us, don’t hesitate to reach out and give us a call or send us an email. We would love to hear from you.