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4 Things To Know as a First Time Home Buyer

Posted by mziai on July 10, 2017
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First, congrats on your venture on becoming homeowners!

So, now that you are ready to start looking for your first home; what do you do? Many first-time home buyers venture off to the internet to look for homes. Although this is a pretty common practice, it’s not the most helpful. Most often, the properties that buyers see via online sites are either not for sale or are already in escrow (meaning, that the seller has already accepted an offer). Also, online sources are not very buyer friendly, since they do not provide all the necessary answers to questions commonly asked by first time home buyers. Here are 5 things that every first time home buyer should know that most are not privy to:

  1. Getting Approved for a Mortgage:  

    •  If you decide to obtain a loan, then make sure you have a lender. After you have secured your lender, check with them to see how much you will be pre-approved for, since that will allow you to know the price range of homes or condos to look for while searching.
    • If you do not have a lender yet, please feel free to give us a call and we will provide you the information for top-notch lenders
  2. Choose the right agent who will work on your behalf:

    • Many agents are not as dedicated and/or drop the ball most times. Also, there are moments when a property comes onto the market and there is a bidding war. You want to make sure the agent you choose is the one that will fight for you and ensure your offer is the winner.
    • Right now, there is low inventory and the competition is fierce in certain areas and price ranges. Therefore, it is imperative to make sure that your agent will fight for you to make that deal happen.
    • Most importantly, make sure the agent knows the area and comparative properties that sold within the vicinity. There have been many cases where the buyer’s agent is not knowledgable about the area and assures the buyer to buy “x property,” over the market value without any assurance of the resale value. These cases exemplify how choosing the right agent who will go the extra mile for you is very important.
  3. Deciding between a Home or Condo:

    • Whether choosing between a Home or a Condo/Townhouse, I ask my clients the top 5 features that are the most important for them
      • Here are a couple common questions to ask yourself:
        • How many Bedrooms
        • Pool or no Pool
        • Are you ok with a fixer upper or does it need to be upgraded
    •  These type of questions will bring to surface what really matters to you
  4. Choosing the Area:

    • Now, this another major aspect of your home hunting process because the agent you choose will need to be aware of the market that you decide to look in. Being aware of the LA market, we navigate the home search easily for our clients to find the perfect home.
    • Picking the right area is usually based on:
      • The commute to your work
      • School District
      • Resale Value

In the end, the home buying process is intricate with many steps. However, with the right agent by your side, the process is a breeze. For our team, we aim for excellence in client satisfaction throughout the whole home buying process. We are there for you from the very beginning to even after the sale of your first home. We are dedicated to being your trusted realtors for life.


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