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Tips and Tricks for First-Time Homebuyers


Buying your first home can be an exciting but nerve-wracking process. These helpful tips will create a road map to get started toward home ownership. Remember, each real estate transaction is unique, so a Hansen Home Team agent can adapt these tips to your specific situation and market conditions.


  • Determine Your Budget: Know how much you can afford by considering your income, expenses, and potential future changes in financial circumstances. Take into account additional costs like property taxes, homeowners insurance, and maintenance.


  • Save for a Down Payment: The first step, and most time-consuming step, is to save for a substantial down payment. It will impact your mortgage terms and monthly payments.


  • Get Pre-Approved for a Mortgage: Before house hunting, get pre-approved for a mortgage to understand your borrowing capacity. It is important to shop around and get information from multiple lenders. If you don’t know where to start, we can recommend our most-trusted lenders to you.


  • Research Neighborhoods: Explore different neighborhoods to find the one that meets your needs in terms of amenities, safety, schools, and commute.


  • Understand the Real Estate Market: Chat with us about market trends, property values, and interest rates in your desired location. HHT agents are highly experienced in understanding all of these important factors.


  • Negotiate Wisely: Be prepared to have to negotiate the price and terms of the sale. Your real estate agent will have insight into what needs to be negotiated and how to get exactly what you are looking for.


  • Factor in Closing Costs: Be aware of closing costs, which can include fees for loan origination, appraisal, attorney services, and more.


  • Plan for the Long Term: Consider your long-term plans when choosing a property. Will it accommodate your needs as they evolve over the years?


  • Review the Contract Thoroughly: Understand all the terms and conditions in the purchase agreement before signing. Your HHT agent will go through each section and explain everything so there are no surprises.

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