First-time Homebuyer

September 26, 20252 min read

4 RECOMMENDATIONS FOR BUYING YOUR FIRST HOME

Buying your first home can be both challenging and exciting. By learning from others’ mistakes, you can avoid setbacks and enjoy a smoother transaction.

These 4 recommendations will help clear your path and make your first home purchase a successful one:

A professional real estate agent advising a first-time homebuyer with a tablet showing property listings. Papers, calculator, and trustful conversation happening in a bright office or open house.

1. Check Your Credit Score
Your credit score plays a major role in getting a mortgage. Improve your credit to secure better loan terms. A higher score gives you more negotiating power with lenders.

As a reference:

  • Excellent: 720–850

  • Good: 690–719

  • Fair: 630–689

  • Poor: 300–629

Loan categories:

  • Prime: Above 680

  • Near Prime: 620–680

  • Subprime: Below 620

2. Build Strong Savings
Buying a home is one of the biggest financial decisions you'll make. Beyond the down payment, you must be ready for monthly payments, insurance, repairs, and property taxes. That’s why having solid savings or “reserves” is essential—not just to buy the property, but to maintain it over time. Remember: the house is technically the bank’s until the loan is fully paid.

3. Get Pre-Approved by a Lender
Many people start house hunting without knowing how they’ll finance the purchase. This often leads to failed offers. Getting pre-approved gives you a clear idea of how much financing you qualify for, increasing your chances of closing a deal successfully.

4. Hire a Professional Real Estate Agent
Some first-time buyers think they don’t need a Realtor because “everything is online.” But a professional agent helps overcome negotiation hurdles, find the right property, deal with the seller’s agent, and navigate the complex paperwork. Their experience is invaluable—and the best part? Their commission is paid by the seller.

Summary:
Buying your first home? Boost your credit score, build savings for ongoing costs, get pre-approved for financing, and hire a professional Realtor to guide you through negotiations and paperwork—at no cost to you as a buyer.

Real Estate Expert focus on Pre/New construction residential  properties

Andres Manco

Real Estate Expert focus on Pre/New construction residential properties

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