Ambria Doyle Real Estate

Do you find yourself browsing through Zillow or Realtor.com fantasizing about finally purchasing a home? Have you decided you’re tired of renting, or living your parents, and ready to make that jump into home ownership? Maybe you’re finally ready, but you’re not sure where to start. As a first time home buyer there’s a lot of steps to think about. Here are some Key tips to remember to start the process, get you to the closing table and into your Dream Home!

1. Get Financially Organized

Rebuild your credit score, create a savings, reduce your debt or at least don’t create new debt. Your credit score will determine your interest rate.
The bigger your savings the more you have for a down payment and can cover closing costs. *You can also search for down payment assistance programs, or apply for FHA/VA loans so you can pay little to nothing in down payment/closing costs.
The amount your approved for depends on your debt to income ratio. The less debt you have, the better your chances of a higher budget approval.

2. Get a Mortgage Pre-Approval From a Local Lender

It’s hard going shopping if you don’t have a budget. You don’t want to fall in love with a home out of your price range. Speak with multiple local lenders to find out the best rate and lending program for you. They will help you decide if a Conventional, FHA, VA, or USDA loan is the right fit for you. Working with local lenders can be easier than working with an online lender. Local lenders tend to have quicker response, they’re familiar with the area you’re moving to, they may already know the realtor you’re working with, and sometimes they can make it to the closing table to celebrate with you. In some cases, a listing agent may choose an offer with a pre-approval from a local lender over an online lender.

3. Find A Trusted Realtor

As a first time home buyer, it’s important to find a realtor that can really educate you on the process. Things will be moving quickly, you’ll be signing a lot of documents, you’ll have many words thrown at you that you may not know. Knowing you have a realtor to rely on to explain these things to you will give you peace of mind.

4. Make a List of Wants vs Needs

Make a list of features in a home that are really important to you; like number of bedrooms, kitchen style, square footage, acreage. Don’t miss out on an opportunity for a great home, or prolong your buying process, because a home doesn’t have your wants; ie. a hot tub, a pool, an island.

5. Research Neighborhoods

If you have kids, look up the school district and what the schools have to offer. Familiarize yourself with the community, how involved people are and what events are usually held. Find the nearest grocery stores/shopping center/restaurants/entertainments. You’d want to know ahead of time your nearest grocery store is 20 minutes away before moving in!

6. Explore Different Home Styles

Tour different home types with your agent to get a feel of what home fits best for you and your family. You may prefer a ranch, a multi level, a split level, or even a condex.

7. Get The Inspection

With an FHA or VA loan, an inspection is required. With a Conventional loan it is not, but it’s always advised to get the inspection to be aware of any major issues. Some problems may be underlying, like outdated wiring, mold, pests, termites, and unlevel foundation.

8. Schedule the movers

As it gets closer to closing day, schedule the movers so you can get into your new home as soon as possible. Once all the documents are signed, the keys are handed to you and you’re free to move into the property at any moment!

Not a necessary key tip, but your realtor LOVES REFERRALS! As realtors, referrals are a huge deal and lets us know you were happy enough with our service to refer people to us. If you or someone you know is looking to buy this year in New Hampshire, let’s chat so I can know your goals!