Buying a home for the first time comes with tons of questions, stress, and fear. As a first time home buyer there are tons of thoughts that will run through you head like: the thought of accepting all responsibilities of homeownership, the thought of having to pay a monthly mortgage + all the other bills that comes with homeownership...ect
Owning a home does come with tons responsibility; however according to cenus.gov 64.2% of people in America are homeowners. Therefore, if well-over half of the American population are homeowners, then why wouldn't you be able to keep up with all the responsibilities of homeownership?
Are you worried you will not be able to keep up with the bills + mortgage payments?
Well...If you are obtaining a mortgage for your property (like the majority of home buyers) then I can assure you that the loan officer helping you with your mortgage has taken all into consideration before giving you a mortgage… The way a mortgage makes money is by home owners owning the house, and them paying interest to the banks. A bank has no interest in owning real estate. Therefore, a loan officer will pre-approve you for the property you are thinking of placing an offer on, before you submit any offers. The reason they do this is because they want to make sure that you will be able to afford the monthly mortgage payments of that particular property, and still have enough to pay for your other bills that comes along with homeownership. In conclusion, do not let the fear of not being able to afford the house come into mind… The loan officer is looking out for your best interest.
Are you worried you are putting your money into the wrong house, and you’re over paying?
Once again, if you are obtaining a mortgage,than the bank that is lending you the mortgage has NO interest in making a bad investment. A bank is in business to make money, and make smart investments. Therefore, your loan officer will send out an appraiser to appraise the property you are under contract with to buy. The appraiser will go out to the property to take notes, and then go back and compare it to other similar homes that sold recently. Now, if the appraiser comes back and says you are overpaying for the house, then they will not give you a mortgage on the property. Again, the bank does not like to make a bad investment. So you can rest assure that you will not be overpaying for your home.
Are you worried because you feel unconfident, and unsure of what comes with buying a house?
A important tip I can give you to feel a sigh of relief, and confidence is choosing a real estate agent whom is apart of a well known established company like Coldwell Banker. I can assure you that a large company like so has sent their agents out for tons of superb training classes creating trained professional agents. As a well established company, with a tremendous reputation like Coldwell Banker the last thing a company like Coldwell would want is un-trained, un-knowledgeable agents with inaccurate results, and information tarnishing their reputation.
Now, it is never too early to get a real estate agent involved.
Now if there's a home that you're chasin' call Jason..
There is no obligations, I am open to talk and answer any questions..
Thanks for reading