Top Things Realtors Wished Their First Time Home Buyers Knew

Navigating the real estate market as a first time home buyer can be overwhelming and daunting. From negotiating, to scheduling open houses, it’s a comprehensive process that takes some research and patience. In an effort to clear up the process, a handful of real estate agents were asked, “what are some things that you wished your first time home buyers knew.” Here’s what they had to say.

Top Things Realtors Wished Their First Time Home Buyers Knew

Shop the Neighborhoods, Not the Upgrades

When going from an apartment to a home, it’s easy to fall in love with a newly remodeled house that has shiny floor, an open concept, large bathrooms, etc as it’s what your ideal home would look like. However, when a home has recently been remodeled, the ceiling for equity for that home is lowered as the previous owners put their own time and money into the upgrades. Additionally, while you can upgrade countertops, kitchen, or backyard spaces, you can’t upgrade the neighborhood. It all comes down to location. If you like the location of a home, but not so much of the floor plan, you can always remodel. This is one of the top pieces of advice realtors had to give their first time home buyers.

Be Prepared to Act Quickly

Currently we are in a seller’s market. Inventory is relatively low and competition is high. It’s common to see homes going for 100K higher than their original listing price, as competition is that fierce. If you’re serious about buying a home, you and your agent should be prepared to view the home and make an offer as soon as possible. Waiting even just a few days can run the risk of losing the home.

Create a Wants Vs. Needs List

While have a bonus room may seem like an urgent priority, it may not be your highest priority. Whether you’re buying a multi-million dollar home or searching for something under $150,000, it’s rare to find a home that checks every of your boxes. Break down the checklist of all the things you’re looking for in your next home and categorize them into wants vs needs. The helps narrow your focus and prevent moving into a disappointment home that covered your wants vs. needs.

Ask Questions

As overwhelming as the first time home buying process is, the benefits far outweigh the stress. Your agent is there to answer any questions you might have regarding financing and the overall home buying process. Be sure to go to your realtor with any questions you might have regarding the process as you’re likely no the first person who has asked that question. A good agent will stick by you until the end working their hardest to get you into the home best suited for you.

You may also like: 5 First Time Home Buyer Mistakes.