A Guide For 1st Time Buyers

Step 1: Freshen up your Finances.Before you dive into the exciting part of home-buying—the search!—make sure you have all your ducks in a row. “Figuring out your finances and crunching some numbers will allow you to set a realistic budget,” says Mitch Rolsky of CENTURY 21 Scheetz.  Start by learning about your FICO Scores and how to improve them at Mitch's website www.FicoCreditScores101.com

Step 2: Secure a loan.“After you get your finances in order, talk to lenders and mortgage brokers,” says Mitch. It’s important to shop around to get the lowest interest and overall best deal possible. “Make sure you understand all of the fees involved before diving into any thing,” Mitch warns. Mitch also cautions that "you should NOT allow multiple lenders or services like Lending Tree to pull your credit" since doing so will actually lower your credit score which could cost you the most competitive interest rate. You can start the pre-approval process by getting the names of several lenders that many of Mitch's clients work with.

Step 3: Map out your criteria. Now that you have your finances figured out and a loan set up, it’s time to begin your search—from home! With a plethora of online home-buying tools at your fingertips, it’s relatively easy to map out different types of homes and neighborhoods and find what is right for you. “Make big decisions—like urban versus suburban settings, an estimated property size and neighborhood requirements—before you start to physically look at properties,“ says Mitch. This will save time and energy for both you and your agent. Mitch will be happy to create very detailed searches that will send you email alerts when places that meet your critera are posted to your own personal and private website where you can check out all of the details and leave questions or comments for Mitch that will help him refine our your search and make it easier for you to find the perfect place.

Step 4: Take notes. Once you’ve found some houses you’re interested in looking at don’t venture out without a pen, paper and camera. “Often when searching for a home you are shown many at once. Keeping track of important details by taking notes and pictures will help you differentiate between the properties later, and help you weed out the homes you were not interested in,” says Mitch. It is also a good idea to come with a list of questions ready, and be sure to scope out the neighborhood by driving around for a bit. Mitch suggests that, if you are working with a REALTOR, make sure they are focused on the part of town you are considering. “There’s nothing worse than purchasing a house only to find it’s down the block from an extremely noisy or smelly restaurant or industrial plant,” Mitch notes. To make it easier for you to find out more information, or to talk with Mitch about places you might drive by. Mitch has one number that you can call to get info on any property 24/7 regardless of what REALTOR has the property listed for sale. You can learn more about this feature at Mitch's website http://www.8145555.com

Step 5: Close that deal! So you’ve found a home or condo that you love? Don’t wait around. “I’ve seen many first-time buyers miss out on a home because they got cold feet and continued shopping around. By the time they realized they weren't going to find a better fit, someone else had already made an offer!” says Mitch. Like the perfect pair of shoes, you will know when you’ve found the right match. “Make an offer, and be ready to negotiate,” says Mitch. Once you have decided to write an offer, thoroughly read the contract and make sure you understand everything before you sign. Next, it’s time to begin with the appraisal and home inspection process.

For more information on purchasing your first home, please contact Mitch with CENTURY 21 Scheetz. CENTURY 21 Scheetz has served the Metropolitan Indianapolis area since 1976. We are committed to providing outrageously positive service, delivered with enthusiasm, and integrity, today and always.