Tips for First Time Home Buyers

Buying your first home is a very exciting time, but first-time homebuyers can also feel a bit anxious if you do not have all the information you need or are not fully prepared for all the costs necessary to buy a home.

 

Here are some things to consider to help you be prepared for your big move.

  • First and foremost, determine a realistic amount for how much you can afford.Consider your current monthly budget, leave room for miscellaneous home costs and repairs, like HOA fees, taxes and insurance. Then determine the amount you can afford for a house payment, considering what percentage of your take-home pay can be used.

 

  • Pay off all debt. Carrying debt will not only decrease the amount you will qualify for but can also add stress to your monthly bottom line
  • Save for a down payment. Having 20% down is ideal, that will get you into a position of not having to pay Private Mortgage Insurance (PMI).
  • Save for closing costs. Typically, closing costs are 3-4% of the purchase price. Once you have a good idea of the home price, you can get to this number easily.
  • Loan pre-approval. Once you have paid off debt and saved for closing cost, it is a good idea to have a lender pre-approve you for a loan. This will help expedite the closing process and give you an idea of what amount you actually qualify for.
 

  • When it comes time to finding the perfect house, research desirable neighborhoods to find the best fit.

 

  • Hire a real estate agent that can help you navigate the maze of open houses and do all the necessary paperwork!
Downsizing and Moving Into a Smaller Home

Why You Should Work With a Realtor

Working with a realtor to buy or sell a home is not only a good idea, it will take most of the stress out of the process. From dealing with the financials to writing contracts that protect you in the transaction, working with a realtor is an important first step to having a successful sale.

10 Reasons why you should work with a realtor:

 

1. Hiring a realtor will ensure your property is listed at the right price, as a result it will help it sell faster.

 

2. Presenting your property in the best manner is also vital to the sale, from staging to pricing, a professional can help direct you in this process.

 

3. Exposure is key. Realtors work for you, ensuring that your property has the proper exposure, from open houses to social media.

4. Working with a professional will ensure your contacts are signed and initialed correctly so there are no hiccups at closing. Working with a realtor streamlines the entire closing process and allows you to just show up at a scheduled time.

5. A realtor will schedule showings and appointments to see the property, all while keeping you in the loop on any progress.

6. Hiring a realtor gives you the peace of mind knowing that a professional ‘has your back’ and is working diligently to meet your needs throughout the real estate transaction. Have questions on any part of the process? Your realtor is there to help.

7. Typically, higher price offers will be presented when working with a realtor, resulting in your property selling at top of the market.

 

8. Negotiations and inspection issues are addressed by the realtor, therefore taking that responsibility off of you.

 

9. Closings are sped up when working with a realtor.

 

10. A realtor will have current market knowledge, knowing what homes have sold for in the area, therefore ensuring you have it priced correctly.

Why Work With a Real Estate Relocation Agent? 3 Ways You’ll Benefit!

 
Relocating can complicated and stressful.  There are a lot of pieces to coordinate – from buying a home, to packing, to moving, to little details like getting a new driver’s license and filling out change of address forms.  We get it.  That is why you want to work with a real estate relocation agent to help you navigate all the complicated challenges that come with moving across the country.
 
 

Here are 3 things that a real estate relocation agent can help you with:

1.  They can help you narrow down your search.

If you are house hunting in a city you don’t know it can be hard to narrow down which neighborhoods are a good fit your your lifestyle and personality.  These things are beyond just bedroom and bathroom count.

For example you:

  • Like living in the heart of the city and restaurants, concerts and nightlife are important to you
  • Need a yard for pets / kids
  • Don’t want a long commute, so need something close to you office
  • Would rather not have to worry about major upkeep or don’t have time to do any remodeling and so would prefer a new home
  • Love to cook/entertain and not only want a nice kitchen but would like to be close to a local farmers market and specialty shops
  • Prefer to commute via bike of public transportation
  • You like to go running or hiking outside and would like easy access to trails
A real estate relocation agent can help tailor your search to an area that is will fit YOU.

2.  A real estate relocation agent doesn’t just know the market, they know people

As you are house hunting, a real estate relocation expert can help you with other resources all well.

Things like:

  • Finding a quality lender
  • Connecting with contractors to help with any home repairs
  • Insurance agents
  • Cleaning services
  • Unpacking and organizing services
Their relationships can save you time, money and hassle.

3.  They can help you find all the *hidden* gems

 
Every city has hidden nooks and corners that take time to get to know.  A real estate relocation agent can give you an insider’s perspective to make you feel right at home.
 

 

They can tell you about things like:

Find additional relocation resources and our tips for relocating to Salt Lake City HERE:

 

 

Looking to relocate to Salt Lake City Utah?  Market Source Real Estate can help.  We’ve assisted multiple delighted clients with their relocation and move.  Give us a call today! 801.810.6773

3 Factors to Consider Before Choosing a Real Estate Agent

3 Factors to Consider Before Choosing a Real Estate Agent

Salt Lake City real estate market is thriving right now. The pandemic didn’t seem to affect much the real estate market here, unlike other states of our country that are going through a rough time.

In an environment like that, a decent real estate agent should be easy to find, right? Wrong.

Just because you’re in a thriving market doesn’t mean that you shouldn’t do your research. Every booming market has its share of subpar agents hoping to ride the wave to success.

There are a lot of factors to consider when choosing a real estate agent, and many traits to look for. We’ll talk about a few of them in this article.

1. Communication

The mark of any good business person is the ability to listen. Communication is key and everyone benefits. It’s much easier to sell to a client if you know what they want.

For instance, why are you buying the home? Are you moving into it, or is it an investment property? Your answers may change how the agent approaches and handles the case.

Nobody wants to live in a dirty, run-down house. However, if you’re looking to resell, it might not matter. You were likely planning to spruce up the home anyways and sell it at a profit.

But it’s about more than talking and listening. It’s about understanding how you communicate best. Most people prefer to text, email, or call on a cellphone when they want to reach someone.

You’ll need to be able to contact each other quickly. This will help you buy the house you want before someone else does.

2. Experience

Finding an agent with experience can give you a significant advantage. They know how the market works.

They can help you up the price of your current home, negotiate the price of a prospective home.

Experience also means that they’re good enough to keep their job. Even so, it’s best to ask questions before deciding on an agent.

How often do they make sales? Do their clients’ houses sell at a high price? Do they end up buying homes at a reasonable price?

3. Others Recommend Them

There’s usually nobody we trust more than our family and friends. They’ve done a lot for us, so when they offer advice, we pay attention to it. For this reason, they may be the best place to start when looking for real estate agents.

It doesn’t have to be those close to you. Every opinion you can find may help. Read reviews and see what previous clients think of them.

Choosing a Real Estate Agent Who’s Right for You

Choosing a real estate agent can be difficult because a lot goes into finding the right one. We’ve offered some advice on what to look for in an agent, but there’s more to consider. You may want to do more research to make sure you’re prepared.

For more articles on real estate, especially in the Salt Lake City area, please visit our site. Are you thinking of buying a home in Salt Lake City? We’re here to help.