First Steps for First time Buyers by Charles Martinez Realtor
Buying your first home. Simply thinking about, or actually saying the phrase can be overwhelming and scary for even the bravest of new buyers or wishful renters. In today’s market and economy, many confusing and contradictory messages are coming from the media. Fortunately for Asheville/Buncombe County area residents these statistics and reports apply to most of the rest of the country and not so much to us.
Between area home prices and mortgage interest rates that are among the lowest and most affordable for new homeowners in decades, NOW is the perfect time for first time buyers to consider making the most important investment in their lives. Monthly mortgage payments are actually lower than paying monthly rent for many homebuyers! And, there are currently numerous loans and funding to help first time buyers achieve their homeownership dreams.
So how do you or you and your family start on the path to home ownership? My most critical recommendation is to find a licensed Realtor who has a solid reputation as a Buyer’s Agent. Many new Americans who have little or no experience and understanding about home buying processes are uncertain about whether they can qualify for a loan, how to overcome the legal questions about a home purchase, and how or where to find a home they love and can afford with their particular budget and/or personal needs. A licensed, experienced, and qualified Buyer Agent will become your strongest advocate and champion when buying your new home.
The basic steps that a Buyer Agent can help you with include understanding the roles and legal responsibilities that a Realtor has to You, his or her client. Your Agent will help you understand basic questions about rent vs. buy, Fair Housing laws, and how to begin qualifying for a mortgage.
A Buyer Agent does not cost you anything to hire. The seller pays his or her commissions once your home purchase is completed. There is NO charge to you, the buyer. However, the knowledge, experience and negotiating skills that your Agent will provide will protect and guide you as you begin your home search and purchase. Start your home search by finding the right Realtor to guide you as you begin your homeownership journey.