By. AJ Cibok

First time home buyers generally experience a lot of stress throughout the house buying event. The financial and psychological rewards of buying a home for the first time do not surprise most individuals. There are lots of things involved in buying a house that the inexperienced homebuyer could be oblivious about.

Firstly, employ a realtor; purchasing a house is involved and doing it alone is even more so. Realtors will have all the information on the current real estate market and important statistical information on the communities you are considering; their expertise is invaluable. Around every bend, your real estate agent will be there to help with all the questions you have.

Next, go to your realtor with a specific idea of what you want. The buyer ought to know if they are looking for two bedrooms or three, one story or two, and all other specifics about their dream home. Wasting time viewing properties that are not what you’re searching for is unnecessary, and won’t occur if you are straight forward with your real estate agent about your requirements. If there are certain features you are looking for in the community you live in, express these to your agent as well.

Third, do research and check around for loans in advance. Questioning lenders is the only means to assure yourself that you are getting the best deal possible on your mortgage. You should be aware of the amount you could afford prior to going to the bank for the loan. If your mortgage lender offers you more than you have determined you can afford, you do not need to take it all.

Next, be prepared for your home-viewings by carrying a camera and a notebook. Real estate agents take typical clients to see about 5 and 10 homes; several of them will have features you want to remember. An easy ranking system for the properties you view as well as a catalog of important features will help you remember the homes you preferred. Taking notes on the features of the neighborhood is likewise important, sometimes more so than the features of the home itself. If you really like the first home you see, forget about writing down notes and buy it; you are not apt to find another ideal home, and you may lose it if you don’t act fast.

As a final point, be prepared for much financial expenditure involved in buying a house. Down payments are only one of the three costs involved in purchasing your house. You will need anywhere between 1-3% of the entire cost of the house as a down payment. First, however, you will need to present earnest money. This is the money you put forward with your preliminary offer, to prove that you are serious. The homebuyer will also incur some closing costs, which includes everything needed to process the deal. A first time homebuyer ought to be prepared for all of these expenses at the beginning of the process.

Focused on learning more about new homes in Colorado Springs or other real estate options here in Colorado? Our realtors are here to support you in any way possible. Furthermore, consider employing Colorado Springs realtors if you are on the lookout for condos, townhomes or related real estate.