First Tine HOme Bueyr

5 Steps to Buying Your First Home

Becoming a first time home buyer is one of the most rewarding experiences most people will have in their lifetime. Homeownership establishes a sense of independence and financial freedom. But let’s be honest, taking the first steps towards home ownership can feel overwhelming and intimidating. According to the NY Post, nearly 44% of first time homebuyers report feeling anxious through the entire home buying process. One in 10 felt buyers remorse and nearly 13% of homebuyers feared they paid too much for their home.

Did you know that most of the stress a first time home buyer will experience can be avoided by simply being prepared? Having a transparent and trusted realtor gives first time home buyers the confidence to succeed in the largest transaction they will ever make.

“By doing research and discussing your desires and needs with your real estate agent, you can find a home that meets your needs while also staying within your budget.” – David Hoegerman

First time home buyers need to have a relationship with a realtor they can trust. The Putzier Real Estate Team is committed to being transparent throughout the home buying process, establishing your trust as you purchase your first home.

Become a First Time Home Buyer

First time home buyers often rush into their first home purchase, resulting in costly mistakes down the road. Many times, buyers make the mistake of not staying within their budget. Oftentimes they purchase homes with problems they cannot afford to fix. This is why we believe taking the time to establish your goals as a homeowner will set you up for success. Your first home should be a good financial investment for you.

The first step you should take is to define your goals and dreams for your first house. Purchasing a home is a long term financial commitment. Sit down with a trusted real estate agent and define your goals and dreams before you start looking at homes. With the right goals in place you will shop for homes that fit within your budget. You will also find the best home that meets your individual needs.

First Time Home Buyers Get Pre-Approved to Buy

With goals in place, it is time to meet with a lender. Getting pre-approved to purchase a home can feel intimidating. Realtors generally recommend a few local lenders to help you start the process. Most often, lenders have a first time home buyer program that will allow new first time home owners to buy a home with little to no down payment. Take the time to interview three lenders to determine which one you will work best with. Finding a lender you feel comfortable working with will give you peace of mind as you begin the transaction.

Before shopping for a home you will need a pre-approval letter from the lender. This letter will inform your realtor of how much you are pre-approved for. Keep in mind, the pre-approved amount may be more than your personal budget will allow. Because you already determined your home buying goals, your realtor will help you shop within your budget rather than the pre-approved amount.

Start Looking At Homes for Sale

Shopping for your first home is exciting. With a pre-approval from the lender, and your set budget on a house, the real estate agent will start showing you homes. When you are shopping for a home you will want to consider things like: cost, the size of the home, location, condition of the property and the costs of cosmetic upgrades to make the home your own.

Your realtor will take into consideration the goals, needs and desires for your home. Having a realtor to keep you focused on your personalized needs and goals will help guide you as you look for the perfect home.

Make an Offer on a New Home

When you make an offer on a home, there is more to consider than just the list price. Your realtor will complete a market analysis of the home. A home market analysis will determine if the home is priced too high or too low. The realtor will also help you look at additional costs the home may require in order to make the home livable. The offer will include necessary repairs or damages that the buyer is requesting in order to complete the transaction. Sometimes a buyer will ask for closing costs to be paid by the seller, or at least a portion of the closing costs. Your realtor will help you write your offer by completing all of the legal paperwork needed. Sometimes the offer is not accepted or the seller will negotiate the offer until an agreement can be made.

Closing on Your First Home

When an offer on a new home is accepted, buyers enter into the transaction. The buyer will make a deposit on the home called earnest money. Earnest money is like a deposit that tells the seller that you promise to fulfill your obligation to purchase the home. The next steps in the closing process will include an inspection and appraisal of the home. Behind the scenes your lender is working hard to secure the title to the home. Your realtor will take care of scheduling the closing as well as all of the legal paperwork necessary for the home purchase. Generally speaking, the closing date is within 45 days from when the offer is accepted.

Taking the Steps from Offer to Closing on a New Home

The Putzier Real Estate Team has 20 years of combined trusted real estate experience. Because the housing market is competitve, buyers and sellers are cautious in taking the next steps in real estate. The Putzier Real Estate Team provides the most up to date and leading edge market analysis so home buyers can make strategic decisions and achieve their real estate goals. Justin and Charlotte Putzier are Casper realtors committed to helping first time home buyers buy their Casper home.

Buy your first home in Casper, Wyoming! Download the first time home buyers checklist to start the process today. We are ready to help you find your dream home. Contact Justin Putzier at 307-259-8004 or Charlotte Putzier at 307-259-4440. New home buyers can also email our team at putzierrealestateteam@gmail.com

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