First time home buyers resources

Working with a Real Estate Professional

The Gulf Beaches Home Concierge Team can help guide you through each step of the buying process, offering sound advice along the way. By working with professionals who know the ins and outs of the Florida real estate industry, you’ll not only end up with a great home, but you’ll also walk away with a great experience.

Should You Buy?

The decision to purchase your first home is one of the biggest and best choices you could ever make. After all, a home is the largest – and most emotional – investment most people will face in their lifetime. So, how do you know if it’s the right time for you to buy?

There is never a wrong time to buy the right home. The key is finding the right buy and taking the time to carefully evaluate your finances.

A home purchase is an important step that can provide many advantages. Purchasing your own home is a great investment that can deliver several financial benefits – equity build up, value appreciation, automatic savings plan – not to mention a new sense of pride!

Get Pre-Approved By a Reputable Lender

Prepare information regarding your income, savings, and debt.  The mortgage loan officer (MLO) will then go over your financing options, how much house you can afford, and what you can expect for the down payment and closing costs requirements.

To make a serious offer, buyers need to be pre-qualified and better yet, get pre-approved for a loan on your behalf. Being pre-approved will give you an edge in this seller Florida market.  By having a pre-approved loan, your buyer’s agent can essentially claim that your offer is a cash offer.

What an MLO will do for you:

  1. Review your current financials.
  2. Discuss the options available to you during the home purchasing process.
  3. Guide you to an appropriate price point.
  4. Negotiate on your behalf to get you the best loan deal – price, interest rates, loan approval.
  5. Keep you informed and updated throughout your purchase.
 

Find Your Home

Once you have an idea of what you can afford, some questions you might ask yourself include:

  1. What amenities are crucial for you and your family?
  2. How much space do you need and why?
  3. Which is more critical: location or size?
  4. Would you be interested in a fixer-upper?
  5. How important is home value appreciation?
  6. Is neighborhood stability a priority?
  7. Is accessibility to main routes a priority?
  8. What features are not negotiable in your new property?

You’ll learn as you look at homes, your priorities will probably adjust along the way.

Making an offer 

Once you’ve found the home of your dreams, your Gulf Beaches Home agent will research recent comparable sales of similar homes in the area to help determine a fair selling price. Based on those comparable sales, as well as other factors like inspections and repairs, the agent will then help you structure an offer and negotiate to get the very best deal possible. 

Closing

Closing, or settlement, can be a complicated process. Gulf Beaches Home’s, Sarah Hippert, will ensure that you are on top of the contracting process requirements and safely get you to close.  Regardless of where you’re buying, a real estate closing agent can help ensure that everything goes smoothly.

 

 

 

Need some help with a downpayment?  Click here to see if you qualify.

There are programs for first-time homeowners that will help or possibly eliminate a downpayment.  A first-time homeowner is defined by someone who has not owned a home in the previous 3 years.

Each down payment assistance program has a list of “eligible first mortgages” that can be used with the program. A first mortgage is simply your primary home loan. And your down payment assistance can come in many forms, such as a gift forgiven at closing or a second mortgage — funded by a Housing Finance Agency (HFA), municipality, nonprofit or employer. Most down payment programs accept a range of first mortgages, including conventional, FHA, USDA and VA loans.

 

 

Agent

Deanna Huber, LLC

Deanna Huber, LLC

Phone727.307.2024

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