Buying a home for the first time can be really exciting; maybe even a little scary.
Knowing who to call, where to look, and how to budget is very important. Whether you’re in your early 20’s or late 70’s, these first time home buying tips are good for everyone. Before we dive in, take a moment to give yourself a pat on the back for investing time into researching this topic and get ready for this very exciting journey you are about to embark on. If there is anything we hope you take away from this article, it is that you are about to make the best decision by buying a home.
Let’s get into it, shall we?
Before pulling the trigger on buying a home, there are a few things first time home-buyers should evaluate.
Remember, this process takes patience and commitment. Don’t expect to be moving into your dream home in a week.
1. Figure out your housing budget
Before worrying about getting a mortgage pre-approval, make sure you know exactly how much is in the budget. Ask yourself, what am I willing to spend on a home? That way, when you get a mortgage pre-approved, you’re not lured into buying a home close to the price of the pre-approval and you commit to staying near your budget. Rule of thumb: Go less than half amount of income for your monthly payment. Also, just because you're approved for a certain amount, might not mean you want that exact price.
Buy below your means – Don’t spend more than 40-50% of your monthly income on home ownership.
2. Find a realtor you trust
In this word-of-mouth business, it is easy to find a realtor. Just ask a neighbor, friend, relative, or look at yard signs and you are sure to find someone that can help you with the home buying process. However, finding someone you trust and are willing to work with during this process is crucial for a smooth transaction. Don’t be afraid to ask questions about their experience and expertise. Get a feel for their schedule, personal experience in the area you live, and how long they have been in the industry.
The agents and staff at CENTURY 21 Gavish Real Estate are focused on ensuring a positive real estate experience. All agents understand that buying a home is a significant milestone to which only positivity ensue.
3. Study the market
Buying a home based on looks is great, but there are a lot of things to take into account. Take a drive around neighborhoods you are interested in and have a chat with the neighbors. Anyone who is out and about/on a walk is a great candidate for this. Get a feel for the demographic and overall vibe of the neighborhood. Also, make sure to take a drive around these areas during both the day and evening.
You’ve heard it once, you’ve heard it twice: Location Location Location! Find a location that is right for you, but be open to new ideas that might also work.
4. Make the most of open houses
This might seem like an antiquated system, but taking advantage of an open house is one of the best decisions for a first time home buyer. Touring a home can give you a feel for what you like and do not like in a home. Maybe you went into this experience wanting a specific look, but after a few open houses your mind is completely transformed and you are open to new ideas.
5. Check your credit
In order to be a first-time home buyer, you must make sure your credit is up to par. There are a few ways to check your credit scores and reports so have a look to see where you stand. The point of all this trouble is to show the bank that you will be paying back your mortgage loan. The higher the credit score, the lower the risk. Keep in mind that there are no strict minimum credit scores, but lenders will be following guidelines. At the end of the day, you want your application approved so take some time to understand what your credit score means and if you are creditworthy.
*Remember, home buying is called a process for a reason.
First step is to contact us to see what you need to do during this process. Give us a call at (702) 255-1145 or visit our website at www.gavishrealestate.com
There are many things to take into account when shopping for a home, but follow these tips and you have set yourself up to win. You will be furnishing your new place in no time.
We love to hear from all of YOU so feel free to share with us what your home-buying experience has looked like. Also, give us a call if you’re ready to make that jump to home-ownership. We want this transition to be as smooth as possible for you.
(702) 255-1145 or visit our website at www.gavishrealestate.com
When you choose us, you choose family!
You just closed on your dream home, the movers are on their way and everything seems to be moving in the right direction. However, your dog is sensing something is a little off and cannot sit still. Although moving can be an exciting process for the family, dogs might be thinking otherwise. Moving with a dog can trigger separation anxiety which sometimes leads to agitation and escape attempts. Since your dog’s routine is likely to change for a few days, take note of these helpful tips for an easy transition into your new home.
Las Vegas is known for its extravagant lifestyle when it comes to having fun. As a Las Vegas resident, I can assure you that the fun does not stop on the strip. While the strip is known for their large pools, cabanas, swim up bars, beautiful views and poolside gaming, residents of Las Vegas are encouraged to own a home with a pool due to the hot, desert weather in the summer. Even better, residents don’t need to bother paying the costly fees to get into a fancy pool on the strip. That can wait for family visits.
What are the benefits of having a pool in your backyard you ask? Well, it increases your home’s value, it is good for your mental health, you get to control the cleanliness, and family fun. A few trips to a public pool is not going to kill anyone, but avoiding all of the germs that float around public pools is a must.
The National Association of Realtors say that concrete and fiberglass pools increase the value of homes on average by 5-7%. In other words, on a $500,000 home, a swimming pool will typically add about $25,000 worth of value. With the right style, maintenance, and location, your home can be worth more when adding a pool.
A pool in your backyard can be a lifestyle change for family.
Additional benefits of having a swimming pool in your backyard include staying cool during the summer’s heat, an inexpensive way to exercise, an entertaining space for friends and visitors, and a place for your family to swim - for free.
YMCA memberships can become costly and monthly payments can be a pain. Knowing you are in the comfort of your home can make your swim time a lot more enjoyable.
Many families worry about the safety of their children when having a pool. The potential for accidents is a worry for most. With some pool safety education and the right gating, there should be little to no concerns.
Southern Nevada’s Pool Code plays an important part in protecting small children from backyard pool access. Every Southern Nevadan must know the ABC and D’s of drowning prevention:
A = Adult Supervision
B = Barriers (for your pool)
C = Classes (swim lessons and CPR)
D = Devices (personal floatation devices, life jackets and rescue tools)
Whether a fence is or is not required by the state’s law, installing one around your pool would not be a bad idea. Even if you do not have kids, it is a good idea to make sure your backyard is secure. The worry of having a neighbors child in your backyard would eliminate some concerns.
If you already own a home with a pool and would like more information on pool safety, please give our Property Management department a call at (702) 255-1145.