1st Time Home Buyers
Buying a home for the first time is exciting! But it can also feel overwhelming. Where do you start? How do you know if you’re ready? Don’t worry! This guide will help you understand the process step by step.
Are You Ready to Buy a Home?
Before you start looking at houses, ask yourself these questions:
✅ Do I have a steady job?
✅ Do I have money saved for a down payment?
✅ Can I afford a monthly mortgage payment?
If you answered yes, you might be ready to buy! If not, it’s okay—now is the time to start preparing.
How Much Can You Afford?
It’s important to know what you can afford before shopping for a home. A lender can help you figure this out. They look at:
- Your income
- Your debt (like car loans or student loans)
- Your credit score
Many first-time home buyer programs offer lower down payments or better interest rates to help you afford a home. Be sure to ask about these!
Get Pre-Approved for a Loan
A pre-approval letter from a lender shows how much money they will lend you. This helps you shop for homes in your price range and makes sellers take your offer more seriously.
4. Find a Real Estate Agent
A good real estate agent will:
✔ Help you find homes in your budget
✔ Set up home tours
✔ Help with paperwork
✔ Negotiate the best deal for you
Working with an experienced agent makes the process much easier!
Start House Hunting!
Now for the fun part—looking at homes! Think about:
🏡 How many bedrooms and bathrooms you need
📍 The location (close to work, school, family?)
🏫 Good school districts (even if you don’t have kids, this helps resale value!)
Make a list of must-haves and nice-to-haves before you start shopping.
Make an Offer
Once you find a home you love, your agent will help you make an offer. If the seller accepts, you move to the next step—home inspections and paperwork!
Close the Deal & Move In!
Before you get the keys, there are a few final steps:
✅ Home inspection – to check for problems
✅ Appraisal – to make sure the home is worth the price
✅ Final paperwork – to complete your loan
Once everything is approved, you’re officially a homeowner! 🎉
First Time Home Buyer Programs Can Help
Many states have first-time home buyer programs that offer:
💰 Help with down payments
📉 Lower interest rates
🏡 Special loan options
Ask your lender or real estate agent about programs in your area!
Final Thoughts
Buying your first home is a big step, but with the right help, it can be easy and fun. Take your time, do your research, and work with a great team. Soon, you’ll have a place to call your own!
Are you ready to start your home search? Contact Jacqueline Newhouse, a real estate agent with 1st Class Real Estate Triangle East, today!
Why Do Listing Agents Expect Higher Commissions?
In real estate, agents make money through commissions. This means they get a percentage of the home's sale price. Usually, this commission is split between the listing agent (who represents the seller) and the buyer’s agent (who helps the buyer). However, listing...
The Truth About FSBO: Should You Sell Without an Agent?
Should You Sell Without an Agent? Selling a home is a big deal! Some homeowners try to sell their houses on their own instead of using a real estate agent. This is called For Sale by Owner (FSBO). It can save money, but it also comes with challenges. Let’s look at the...
“Real Estate Agent in Rocky Mount, NC – Jacqueline Newhouse”
Discover exceptional properties and receive unparalleled service from a trusted real estate agent in Rocky Mount, NC, dedicated to finding your perfect home.Are you looking to buy or sell a home in Rocky Mount, NC? Finding the right real estate agent can make all the...
The FHA 91-Day Rule
Explore the intricacies of the FHA 91 Day Rule and learn how it impacts your real estate transactions. Equip yourself with the knowledge to make informed decisions and optimize your buying or selling strategy.Gain a comprehensive understanding of the FHA 91 Day Rule...
Furry Friends and For Sale Signs: How Pets Influence Home Sales
Furry Friends and For Sale Signs: How Pets Influence Home Sales Pets significantly influence home sales, affecting both buyers' decisions and sellers' strategies. With nearly 66% of U.S. households owning a pet, according to the National Association of REALTORS®' 2023...
Benefits Of Professional Real Estate Photography
Benefits of Professional Real Estate Photography Let’s face it: in real estate, first impressions are everything. Whether it’s a charming bungalow or a sprawling mansion, how a property is presented online can make or break its success on the market. And while the...
Home Buying Process
The Home Buying Process: A Step-by-Step Guide to Your Dream Home (with a Dash of Humor) Buying a home is a little like dating—it’s exciting, nerve-wracking, and occasionally filled with awkward moments. But don’t worry; we’re here to guide you through the home buying...
Why I Became A Real Estate Agent
Join me as I share the pivotal moments and insights that led me to pursue a career in real estate, a field where passion meets purpose.A few years ago, I was just a regular person, innocently scrolling through Pinterest, looking at wall colors and flooring ideas....
The As-Is Dilemma: Weighing Repairs vs. Selling Your Home in Its Current Condition
"As-Is Dilemma: Repair or Sell Your Home as It Is?" When it’s time to put your home on the market, one of the first and most significant decisions you’ll need to make is whether to invest in repairs or sell the property as-is. Each approach has its own set of...
Understanding Dual Agency in Real Estate: What Buyers and Sellers Need to Know
When navigating the real estate market, buyers and sellers encounter numerous terms and concepts that shape their transactions. Among them, dual agency stands out as one of the most debated and misunderstood aspects. But what exactly is dual agency, and how does it...
Conclusion: Embracing the Journey to Homeownership
Embarking on the journey to homeownership is both exciting and overwhelming. With thoughtful preparation and guidance from experienced professionals, first-time home buyers can navigate the complexities of purchasing a home. Embrace this life-changing step with confidence, knowing that each challenge you tackle brings you closer to owning your dream home.
Jacqueline Newhouse
Real Estate Agent
c:252.544.0703|O:919.500.0819
1151 Falls Rd box 8
Rocky Mount, NC 27804
Serving The Twin Counties & Beyond