You’ve reviewed your finances and come to a decision, it’s time to buy your first home. Congratulations! This is an exciting time, and a worthwhile financial decision. Owning your own home can improve your quality of life, and may you feel even more connected to a community you love.
If you’re sold on the idea of buying your own home, but aren’t quite sure how to get started, don’t worry. In fact, you’ve already started! The first step to buying your first home is doing research (like reading this blog!)
Plus, I’m here to guide you through the rest. Here’s a quick guide with everything you need to know about buying your first home in the Miami-Dade area.
First, Get Pre-Approved
This is the best way to set your budget. In getting pre-approved, you’ll sit down with a lender to review all of your finances. This includes your credit score, lending history, annual income, and any debts you may have. The lender will then tell you exactly how much the bank is willing to lend you. There, your budget is set!
I recommend speaking to at least two lenders before deciding on one. This way, you can be sure you’re getting the very best deal.
Narrow Down the Best Area for You
Take a look at my local area guides to get a good idea for the different communities here. If you have any questions about life in a particular city or town, don’t be afraid to reach out.
Next, the Fun Part!
It’s time to search for homes! Feel free to use my complimentary home-search tool. With it, you can easily search for homes by price, feature, location, and special features.
You can even sign up to receive email alerts. This way, whenever a home hits the market that meets your requirements, you’ll be the first to know.
After You Find Your Home…
It’s time to make an offer. This is one part of the home-buying process where it pays to have a qualified real estate agent on your site. A Realtor will guide you through making an offer and navigate all the paperwork.
Work closely with your Realtor to come up with an offer you’re comfortable with. If your offer is accepted, the next few steps are to:
- Schedule a home inspection. This is very important because you want to make sure there are no major issues with the home that would make it unlivable.
- Go over your contract. Carefully review this with your agent to make sure there are contingencies, so that if your mortgage falls through you aren’t required to purchase the home.
- Finalize your mortgage. Submit your loan application with your lending agent. Work closely with them to have your new home appraised and review closing costs.
Once you’ve signed all the paperwork and paid the correct fees, your new home is yours! Congratulations.
Work With a Realtor You Trust
One of the most important steps to buying your first home is finding a trustworthy Realtor to work with. That’s where I come in. As an experienced Miami real estate agent, I have the resources and expertise to streamline your real estate journey.
Just give me a call today to get started!