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First Time Home Buying Tips

Jaime Bourgoin

Jaime is an ambitious and articulate individual who believes effective communication is the cornerstone of success...

Jaime is an ambitious and articulate individual who believes effective communication is the cornerstone of success...

Feb 8 4 minutes read

Top Two Tips from a Real Estate Expert

 

Jaime:
Considering buying your first home? I have some tips for you.

Jaime:
Hi, I'm Jaime. I'm one of the newer agents at Focus Real Estate, and I'm here to help you buy your first home. I realize buying your first home can seem overwhelming and not many other things in life really prepare you well for it. Luckily, we're here to help. I have two tips for first time home buyers.

Jaime:
Tip number one, start saving your money as soon as you can. While most people know that you're going to have to put down a healthy down payment to buy your first house. There are other expenses that you may not be aware of, and that you certainly do need to budget for. Things like loan origination fees, attorney's fees, home inspection fees, you get the idea. There can be a lot. We recommend that you set aside anywhere from $5,000 to $7,500, just to make sure you're ready and prepared if and when these things pop up.

Jaime:
Tip number two, I advise that you start assembling your team of experts ASAP. Who are these experts? They're going to be people like your mortgage lender, your real estate attorney, and then of course, your agent. Why would you want to contact someone like a mortgage lender a little bit early? Well, the reason for that is that they can actually help you with a lot more than you think that they can. The first thing that comes to mind is that if you are struggling with your credit score, they can actually help you improve that credit score. That way, when you're ready to buy your first house, you can get a good rate on a mortgage.

Jaime:
Another reason you would want to talk to a mortgage broker sooner rather than later, is that they can help explain to you what loans you may qualify for your very specific situation. It's good to have a conversation and really get familiar with what is available and what's out there for you. Another, and one of the most important reasons you might want to contact a mortgage lender a little bit early, is that they can help you get a good understanding of what you can actually afford, and they'll actually be able to tell you things like what your monthly payment would be, which can be very helpful when you're setting up a budget for the lifestyle that you hope to live in this beautiful new house.

Jaime:
The next person you're going to want to contact is a real estate attorney, specifically a real estate attorney. You may have a lawyer that you know and love from another transaction, but for this specific one, this very specific situation, you're going to want someone who is well-versed in real estate law to help you throughout this entire process.

Jaime:
And then of course, you're going to want your real estate agent as a part of your team because believe it or not, we do more then show you pretty houses. We do things more like a project manager. So your real estate agent is going to sit down with you. They're going to explain the process. Given when you want to move, they're going to tell you an appropriate timeline. They're going to keep every other member of your team as well as yourself on track to reach that timeline, show you pretty houses, of course, but then help you create a competitive offer, help you negotiate that offer, and then eventually help you close on your dream house. So whether you're buying your first house or, heck, even your 21st house, we're here to help. Remember, stay tuned and stay focused.

Speaker 2:
[inaudible 00:03:26]. Oh, I'm sorry.

Jaime:
You're ruining it.

Speaker 2:
Are you filming?

Jaime:
You're ruining it.

Speaker 2:
What the hell is going on out there?
 

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