First-time homebuyers are currently the top most priority among real estate agents on the market. It has been estimated that the millennials will start looking into purchasing their first ever home this year. How can you ensure that your first ever transaction will be a successful one?
1. Make Sure to Do Your Research
Research, research, research - this might sound like a broken record but there is a reason that most agents would encourage you to know more about the house you are eyeing on. As previously reported here on Realty Today, there might be certain details and features that the seller is (unintentionally) hiding from you and you may have to do the researching on your own to find out more.
One of the things you need to do before you close in on a sale is to have the necessary inspections made. In order for your first ever transaction to be a successful one, you need to ensure that the house you are buying will not have issues the moment you step into it.
2. Check Your Finances
If you already have an approved home loan, do not go all out and spend it all on the home itself. According to Trulia, if you do not have enough savings for emergency expenses and other costs such as property taxes, you may need to take these out of the loan.
The publication advised on keeping the mortgage payments to no more than 28 percent of your salary in order to ensure that you have enough money to cover unforeseen expenses.
3. Build a Good, Trusting Relationship with the Seller or Your Agent
Part of the success of a transaction lies on your relationship with your real estate agent and/or the house seller. Finding a good real estate agent is one thing, but establishing a good relationship with him or her is another thing.
Having good communication skills and being open to certain things may even help save you a couple of bucks during the negotiation process.
