What every Mesa first time home buyer needs to know!

What every Mesa first time home buyer needs to know.

What every Mesa first time home buyer needs to know.

Here are some tips from real estate agents and long time homeowners for first time home buyers.
Mesa, Arizona

Buying your first Las Sendas home is exciting and intimidating at the same time. While the home buying process is more or less the same for first time home buyers and seasoned home owners in terms of qualifying for a mortgage, the value of credit scores, experienced homeowners are in the know about what else to consider when buying your first home.

Here are some tips from real estate agents and long time homeowners for first time home buyers:

Save up for a down payment:

Yes, you can qualify for a mortgage and buy a home with 0 down, but if you can offer a down payment, your terms can be much better and your offer will look much stronger than that of competing buyers without a down payment. It may also help you to land that home, you really, really want.

Don’t lowball:

Especially in a competitive housing market. If you offer too little for a property you truly want, your offer may come across as cheap, weak and will be either outbid or outright rejected. Consider changing your bidding strategy if you keep being outbid or rejected.

If you have a budget you plan on sticking to, don’t look exclusively at homes that are on the upper limit of what you are planning on spending, this will increase the chances of your offer being accepted.

Pay more, save more:

It is true, a fixer upper can be worth its weight in gold, but pay attention that your renovations won’t cost you too much. If you settle on a home that needs “some” repairs and renovations that end up adding tens of thousands to the price of the home, it is probably not worth it. Sometimes it is worth spending an extra $10,000 on a home that doesn’t need anything done to it at all.

Location or Space?:

Home Buyer Tips in Mesa
What is more important to you? Finding the perfect home in a not so perfect location, or would you rather move in a smaller, not so perfect home in your favorite area of town? Before you go looking for homes, you need to know exactly what it is you are looking for and what areas you are willing to compromise in. It will also make it much easier and faster for your Mesa real estate agent to find suitable listings and offers for you to consider. A home is a big investment, so make sure you have your priorities figured out, so you won’t regret your decision later.

Things that affect home value and resale:

You probably are not thinking about selling a house you haven’t even bought yet, but chances are down the road you will end up selling that home. To ensure you get back as much as possible from your investment, there are some factors to consider: is your home located in a great school district?

This can have a huge impact on the value of your home and its sellability. Are you next to a railroad track? Then you will probably have a hard time selling your home in the future.

There are a multitude of other issues to consider and lessons to learn. To make an informed decision about purchasing your first home, talk to experienced homeowners and your local Mesa real estate team. Here at Coldwell Banker North East Mesa we strive to offer comprehensive real estate services for novice buyers, sellers and investors alike.

Contact our office today for more information and to set up a consultation.

Published By:

Coldwell Banker Trails and Paths
2913 N Power Rd. Suite 101
Mesa, AZ 85215

Office: (480) 355-4700
Email: ron.brown@trailsandpaths.com
Website: http://eastmesa.co

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