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Smart Homebuying 101: Practical Advice Every First-Time Buyer Needs

Picture of Jackie Crawford-Ross

Real Talk for First-Time Buyers: Stay Savvy, Stay in Control

  • Choose the house you can afford, not the maximum amount the lender thinks you can afford. (Ask me for my home budget calculator to see what numbers make sense).
  • It’s okay if you don’t have a 20% down payment. Talk with a trustworthy lender to see what your options are.
  • Start small and use your starter home as leverage to move up to your next home.
  • Don’t be afraid to walk away. Title issues, an inspection full of red flags, or an inflexible seller? You’re the buyer. You’re in charge.
  • You don't have to furnish every inch of your house on day one. Furniture prices are STEEP! Your new place doesn't have to be a Pinterest board on day 1 (or ever).

 

How to Rise to the Top in Multiple-Offer Situations

If you’re a prospective home buyer, you’ve likely heard about the chaos that multiple offers bring. Here’s what I've seen work best to win:

Act quickly and confidently

To me, that means you're paperwork ready with a pre-approval letter in hand. You know your wants vs. needs. So when the right house comes along we're ready pounce.

Embrace limited information

In a perfect world, we'd know every last detail about the listing, but in some cases, there won’t be time to look into it before offers are due. That doesn't mean you're going in blind - If your offer is chosen and you go under contract, you'll have the inspection period to do more thorough diligence.

Present your best offer at the onset

You may need to put it all out early without knowing what anyone else offers. Don’t hesitate to go for it — in many cases, buyers don't have the luxury of amending an offer later.

Keep the seller in mind

We’ll do some investigating to understand what’s important to the seller and submit our offer with their motivations in mind. This could look like a shortened closing timeline, a leaseback or a larger earnest money deposit.

Lastly, choose a savvy agent with experience to guide you through the process. Reach out with questions!

 

Have questions about real estate?DSC_2031-Edit-1

Whether you're interested in purchasing your first home, moving up, downsizing, or investing, my team and I are here to be a resource to you.

Let's find you a new home. And it all starts here. Tell us a bit about your situation – buying, selling, and so forth – and one of our team members will be back in touch to discuss the details directly.

 
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