Buying your first home is an exciting proposition. You’ve been saving for years, and now’s the time to start looking for a home all your own. Congratulations! Home ownership is a big leap forward in life, and I really enjoy finding homes for first-time home buyers in the Green Bay area. (Read my article, First-Time Home Buyers: Your Biggest Purchase Made Easy.) Together, we can look for houses that match your vision and budget. Be prepared! With fewer homes on the market today, good listings sell fast. First-time home buyers who are well-prepared have a distinct edge. As a Green Bay real estate broker for 15 years, I work with first-time home buyers all the time. Here is the advice I give them.
Making a Down Payment on a House
Let’s consider some of the financial pieces that first-time home buyers need to manage. First, the down payment. Buyers should try to put down enough cash to cover at least 20 percent of the sales price. More cash makes an offer even stronger, especially when competing against multiple offers. It helps to work with an experienced loan officer who can provide advice about credit scores, federal or state down payment assistance programs, and credit counseling.
Getting Pre-Approved for a Home Loan
I encourage all of my buyers to get pre-approved for a home loan. The pre-approval process helps determine exactly how much a buyer can afford. Pre-approval also lets sellers know that a buyer is prepared to make an offer to purchase. In the loan pre-approval process, lenders look at a borrower’s employment history, income, savings, credit score, downpayment, and other financial indicators. Borrowers with healthy financial affairs earn the best home loan rates. I’ve worked with many different lenders in the Green Bay area over the years. I am happy to recommend a lender to a home-buying client, specifically someone who suits their financial situation.
Buying a Starter Home Takes Time
Buying a house doesn’t happen overnight. So, buyers should be prepared for a sales process that takes a few months. Timing depends on the inventory available and the number of homes that match what you are looking for. I’ve found the right home in a week for some buyers, while for other times, it takes a year. Once we find the perfect match, I’m proud to say that I get an accepted offer 90 percent of the time, even when competing against multiple offers. Once we have an accepted offer, it’s typically six to eight weeks before the closing date. By understanding the home-buying timeline, first-time home buyers can be better prepared when the moving date finally arrives.
Features Buyers Should Consider
First-time home buyers may have a long wish list of features they’re looking for in a home. Sometimes, it helps to narrow that list down to a more manageable set of expectations. The primary feature to settle on is location. Many of the other elements of a home can be changed through remodeling or landscaping. However, a location is permanent. Here are a couple of questions to ask: What neighborhood, school district, and community fits you the best? Do you want to be close to family, retail shops, schools, or your place of employment? I can help you select a geographical area in Green Bay or the surrounding communities that compliments your lifestyle. Once you zero in on a location, we can start considering other priorities. We will look at the number of bedrooms and bathrooms, yard size, age, condition, and other factors.
The Perks of Home Ownership
I truly enjoy helping buyers find the perfect starter home and watching them experience a new sense of independence and stability. They’re so happy and proud to own a home, and I’m so grateful I could make it happen. After working in the real estate industry for over 15 years, I’ve learned how to make the home-buying process as stress free as possible. Contact us today to discuss your vision for home ownership.
A Trusted Partner for Life-Changing Real Estate Decisions
Buying or selling a house is a huge, life-changing, financial decision. So, it pays to work with an experienced broker like me who can walk you through all of the details. Whether you’re a senior ready to sell or a first-time home buyer ready to purchase, Express Realty is the Green Bay, Wisconsin, company to entrust your future. Contact Express Realty today for a free Comparative Market Analysis.
About Express Realty: Express Realty is a Green Bay, Wisconsin, real estate company offering lower commission rates without compromising quality. Broker/owner Terri Balistriere fell in love with real estate when she and her husband flipped homes 20 years ago. Since that time, she has helped hundreds of Northeast Wisconsin residents fulfill their real estate goals. Whether you’re looking to buy, sell, or invest in real estate, Terri Balistriere is ready to help. Contact Express Realty, your Northeast Wisconsin real estate professional serving Brown County, Oconto County, Outagamie County, Sheboygan County, and Manitowoc County. Express Realty’s professional real estate services cover De Pere, Green Bay, Bellevue, Hobart, Allouez, Suamico, Pulaski, Little Suamico, Chase, Freedom, Wrightstown, Little Chute, Kaukauna, Appleton, Oshkosh, and Sheboygan.