5 Vital Tips for First-Time Home Buyers

Buying your first home is equivalent to embarking on a grand adventure. Although extremely thrilling, learning the ins and outs of the process can often seem overwhelming. From determining a budget to obtaining a loan, there are numerous factors to take into consideration along the way. Keep these five tips in mind throughout your journey.

Check your credit score 
Your credit score impacts various aspects of your life, especially when it comes to buying a house. It's a determining factor in being approved for a loan with a low interest rate. Credit Karma offers free credit reports with monitoring, which can help you catch what may be negatively affecting your score. Mortgage brokers, credit card companies, and banks can also sometimes explain your score in greater detail. Check with them to see if they offer this service.

Be realistic about what you can afford
When setting a budget, it's important to be realistic. To keep your head out of the clouds, consider making a master list of the necessities (such as number of bedrooms and square footage) and a separate list of the extras (such as hardwood floors and a modern kitchen) that you're willing to compromise on. Many first-time buyers update their house piece by piece, creating the ultimate dream home!

Gather all necessary documents
To get prequalified for a loan, lenders typically require various documents. It's advantageous to collect pay stubs, bank statements, and W-2s from the past two years. Ensuring your paperwork is organized will eliminate having to scramble every time a lender requests additional information.

Get preapproved for your loan
Once your credit score is deems acceptable and the required documents are submitted, you'll be able to begin the preapproval stage. Being preapproved allows you to submit an offer with confidence, and puts you on equal footing with competing bids.

Find a supportive real estate agent
Whether it's by word-of-mouth or through research, connect with a real estate agent who fully understands your search criteria. A good real estate agent will assist first-time home buyers throughout the entire process. You'll be surprised how much easier it is with a real estate agent who is on the same page as you.

As with every adventure, the destination is the most rewarding part. Take the time to enjoy it - you only get to be a first-time home buyer once.

THE CINDY SLACK TEAM HAS DISTINGUISHED THEMSELVES AS LEADERS IN THE SIMI VALLEY REAL ESTATE MARKET. THEY ASSIST BUYERS LOOKING FOR A NEW HOME AND AGGRESSIVELY MARKET HOMES FOR SALE. 

THE CINDY SLACK TEAM BRINGS A KEEN EYE FOR THE DETAILS OF BUYING OR SELLING A SIMI VALLEY HOME WITH SEEMINGLY BOUNDLESS DETERMINATION AND ENERGY, WHICH IS WHY THEIR CLIENTS BENEFIT FROM THE UNIQUE BRAND OF REAL ESTATE SERVICE. ROOTED IN TRADITION, FOCUSED ON THE FUTURE – THE CINDY SLACK TEAM IS ALWAYS HARD AT WORK FOR YOU! GIVE THEM A CALL TODAY, 805-207-9206, AND DISCOVER THE DIFFERENCE THEY CAN MAKE DURING YOUR FAMILY'S MOVE.

BY: Jen Benvenuto, AMERICANLIFESTYLEMAG.COM