Problems Facing First-Time Buyers
There is a range of problems that arise when you are purchasing a home for the first time. One of the first things you need to make sure of is that your REALTOR® has all the necessary real estate licenses. It often varies depending on what area you reside in, but nationwide issues can also affect you. Across several housing markets in many cities, you will find a shortage of homes for buyers’ demand. This shortage has forced many buyers’ hands into searching for a home in surrounding areas instead of buying somewhere to live for the first time. Also, make sure that you talk to your agent about the schools around the neighborhood you are looking at.
There is also a generational issue facing first-time buyers as well. In today’s society, we have variables such as student loan debt, affecting graduates across the nation. With millions struggling to find their first home because of issues such as this, it becomes vital that you find a helping hand. If you are a first-time buyer, then one overlooked aspect is researching first-time homebuyer programs. While you may be advised not to make a more significant down payment, using your judgment will be critical, as you will want to secure an affordable monthly house payment when you do so.
These are just a few issues that can crop up when you decide to venture into the world of purchasing your first property. Of course, these are concrete examples, but you will still want to find the best possible help to aid you with your initial purchase.
What Help is Available?
If you are looking to get onto the property ladder in El Paso, Texas, or Horizon City, then REALTOR® Tom can help. Thomas Folden’s company is renowned for helping out first-time buyers, with many young adults searching for guidance on finding the home of their dreams. With a wealth of experience in the field, Thomas and his team are on hand to help with any inquiries that you might have. If searching for homes in Horizon, Texas, is something you have been looking for, then REALTOR® Tom is on hand to help break down the barriers that so many first-time buyers come across and simplifies the steps to get you started. With the relevant connections, you can expect a premier service to finding your way on the property journey.
The REALTOR® Tom website also offers a handy tool to use a selling feature or contact Thomas Folden himself to grab a comparative market analysis for your house. This analysis compares your home to those surrounding it to generate a price that it can sell for in today’s market. The value is then increased or decreased after a home visit depending on its condition and what repairs/upgrades may need so that it can sell at the highest possible price.
5-Step Home Buying Process
When buying your first home, it would be useful to have a bit of background knowledge on how the process works. Working with REALTOR® Tom, you will find an easy-to-digest process within five steps.
Consultation: The first step of proceedings is the initial consultation. This consultation is where an assessment will gather as much information as possible and develop a timeline at the early stages. This first step takes place within the first three days of initial contact. You can also ask for advice from the fair housing guide.
What Your Home Needs: Next, your home’s wants and needs have to be determined. Finances play a huge role in this, and you will have to develop a budget after being put into touch with a potential lender. You can expect this to happen after the fourth day.
Virtual Home Search: Then, after five days, we have a digital property search. Technology has advanced to now use digital means of getting the most out of the home buying process. You will also be introduced to home service professionals at this point to make sure everything in your house is in top shape.
Tour of the Home: Within three days of the Virtual Home Search, we can conduct a tour of the homes that match your search criteria. The tour will be an onsite visit taking place; however, there is the alternative of using a virtual tour such as zoom or face-time to assist in seeing the home without actually being there to comply with Covid-19 protocols.
Offer/Contract Closing: There are many factors to consider in this time frame, ranging from utility inspections, paperwork being drawn up, mortgage loan recommendations, brokerage firms, appraisals taking place, negotiations that need finalizing, and eventually closing the deal. The entire process from offer to closing can typically take 30-45 days, which will see offers coming in, contracts signed, and sales completed. This is why asking what brokers Tom recommends would serve you justice.
It would be fair to say that buying your first home is one of the most exciting times in your life. However, in this day and age, it can also be one of the most challenging. Having the right advice and contacts can go a very long way to getting you underway in the property world.
The steps above should give you a better idea of purchasing your first home works and how REALTOR® Tom can help you find Horizon City Texas houses for sale. Once you are sure it’s the right time to get started, you will know who to contact and what steps are needed to buy your first home with as little stress and hassle as possible. The world of realty is an ever-changing process, which is why having the right REALTOR® can make the difference.