First Home Buyers: Where Should I Start?

Home / First Home Buyers / First Home Buyers: Where Should I Start?

For those looking to buy their first Fort Lauderdale property for a home or investment property, it can be daunting toFort Lauderdale property say the least. For first home buyers knowing where to start can be tricky, although it doesn’t have to be. Any Fort Lauderdale property management company or real estate agent will tell you that before choosing the home you want to live in your first need to start with the following steps.

Start With Clarity

Well before going to the bank, you first need to clarify what it is you’re looking for to how much you can afford to borrow on your budget. The following are some of the things you will need to consider first.

  • How much can you afford to pay out of your weekly wage for repayments without being too tight?
  • How close to work or school do you want your home or investment property to be?
  • How many bedrooms do you need?
  • How long are you intending to keep the house?
  • How soon do you have to purchase your home?

Get Prepared

Before going to the bank you need to be prepared. Have all your documents and saving records ready. Make sure your deposit is easily accessible. Make sure you have enough for inspections, and any other unexpected fees etc.

Get Qualified for a Mortgage Loan

To start looking for a Fort Lauderdale property you will need to be qualified for a mortgage loan. This can be done by seeing your local bank or lender. Upon your interview you will be assessed and have your income calculated to see how much you can afford to pay back. Once you are qualified for a house loan you can then start searching for your new home or investment property.

Start Your Home Search

Connecting with real estate agents and online listings are some of the best ways to find Fort Lauderdale homes in your price range. When searching it is also a good idea to know the neighbourhood by going on a tour of the surrounding area. When searching for a Fort Lauderdale property you need to be motivated as there will be many people searching for homes like you are.

Make Offers, Get Contracts Signed

Once you have found the home that you want to purchase you can then make an offer. If your offer is rejected you can submit a new offer. If you’re accepted you will then move on to signing the contract. Once this is done you will then be able to finalize your loan application, get quotes for insurance, and more. After all this is complete you will then close the deal and have the keys handed over to you once the previous tenants move out.

 

Recommended Posts

Leave a Comment