Everyone dreams of owning his or her own home. For first time home buyers, finding and purchasing the right home is an exciting, yet anxiety filled experience. However, if you know what to expect during the home buying process you will be more relaxed and comfortable.
Having helped thousands of first-time home buyers find their ideal starter home, the following list I prepared will help any buyer through all aspects of the home purchasing experience.
Understand Your Budget
Before the house hunting process begins, it is important to know how much you can afford. Expenses to consider include the down payment, monthly expenses, property taxes and any home insurance costs. These will all have to be considered before the first time home-buying process begins, as they are typically included in your new monthly payment.
Since a person’s credit score determines their interest rate, knowing your score ahead of time can help you decide if now is a good time to buy or not. An individual’s debt-to-income ratio must also fall within acceptable limits of the home’s cost. Once you have determined these things, and if you feel that your budget has enough room to afford a new home, then it is time to begin the home-buying process!
The following links will be helpful when trying to determine what budget constraints you may have.
The Loan Process: Get Pre-approved First
When looking for a loan, be sure to get more than one loan quote to get the best interest rate and loan terms for your mortgage. Different banks and companies will offer different loan origination fees and by shopping around you can often times save yourself a lot of money. Be sure to also check your loan officer’s website for testimonials and information. A good loan officer will offer you many online resources and tools.
Before you lock your rate, be sure to check the daily rate with the rate your loan officer gives you to ensure you are getting the lowest rate possible. Interest rates will determine how much a mortgage will cost each month and come in fixed or adjustable terms.
Mortgage lengths can range from 15 years to 30 years with some loan providers now offering 40-year mortgages as well. The longer the repayment term, the lower the payments will be. However, the interest accrued will also be higher on a longer loan.
Below are a few sites that will help you to find the best loan possible.
- Looking For The Best Mortgage
- Mortgage Shopping Worksheet
- Mortgage Shopping Guide
- First-time Buyer Mortgage
- Shopping For A Loan
Find a Home
Once you have been pre-approved for a mortgage and you know what amount your bank has approved you for, it is time to find your dream home. First, you need to find an experienced, dependable and knowledgeable Realtor. Not just any Realtor will do.
Make sure you have an expert Realtor who has been around for a while and is familiar with the area you are moving to. A well-seasoned Realtor often times has seen many of the homes in your area on the market before and can help you spot a potential money pit before you buy it. Ensure that you make a list of needs and wants taking into consideration the amount of bedrooms you will require now and in the future, amenities, location and asking price.
Remember, the first home you visit might be beautiful, but you should visit many homes before making a final decision. If you are a first-time home buyer and want an experienced and knowledgeable Realtor by your side, feel free to call me anytime at 954.415.5595.
Making Your Offer
There is an art to making an offer on a home.
Typically, sellers place their home’s value a little higher than their desired price. A buyer will send in a lower bid, in a reasonable range, and the seller will counter with an offer somewhere in the middle. Your Realtor will be watching for signs of problems in the home and will make suggestions to you regarding the offer. Listen to them closely as this is their business and they do it every day.
The average buyer only buys a home once every seven years or so. An experienced Realtor will be able to help you negotiate a lower price that sometimes includes concessions or closing costs. Their job is to protect you in the contract.
Home Inspection Process
Getting a home inspection is a vital part of the home buying process. These inspections ensure that the home’s foundation, roof, air conditioners, electrical system, walls, plumbing and entryways are up to certain standards.
It is extremely important to protect yourself by getting a home inspection right away. You typically have 10-15 days from an accepted offer to get the home inspected. Many buyers have been saved from disaster by taking the time to spend the extra $300 – $500 to get a home inspection only to find out the house has major problems allowing them to back out of the contract before it is too late.
- Home Inspection Frequently Asked Questions
- Inspection Checklists
- Question and Answers on Home Inspections
- Why You Need a Home Inspection
Insurance For Your Home
Lenders normally require that you insure your home. Home Insurance Policies cover the costs to fix any major damage that might occur to the home. The price of this insurance is dependent on a home’s age, location, value, and the insurance company you choose.
Be sure to call around and get several quotes. Agents will oftentimes be able to take your information over the phone and get back to you the same day with a quote. Once you choose a company to insure your new home, the cost of that policy is normally added into your closing costs and sent into an escrow account to be paid to the insurance company directly the first year.
- 10 Things You Should Know About Purchasing Home Insurance
- Homeowners Insurance
- How to Choose a Policy
- Information on Homeowners Insurance
- Mortgage Escrow
The Closing Process
Before the home is legally transferred to you, the closing process must occur. During this phase, you will sign all of the mortgage documents, pay closing costs, and sign various other legal documents.
Once all of the papers are signed, the keys to your new home are yours! The only thing left to do is move into your humble abode.
Next Steps for First-time Home Buyers
The current real estate market offers great opportunities for first-time home buyers. Whether you are searching for the perfect starter home, townhouse or condominium, I would love to help you through the exciting experience of purchasing your first property.
You can browse active real estate listings here on my website or call me directly at 954.415.5595 to learn more about how to get started.
Jon was very knowledgeable about the area
Jon was very knowledgeable about the area. He was able to show us which areas we would want to be in, and which areas to steer clear of. Jon set up listing alerts for us, so that whenever a new listing showed up in the area we wanted, and in the price range we were looking for, it would email us the listing automatically, so that we were always among the first to see a new listing. When we finally saw the house we ended up buying, Jonâs knowledge about the process and negotiation skills helped us get the house we wanted and at a price that didn't break our bank. I would definitely recommend Jon to other buyers/sellers. Continue Reading
I would definitely recommend Jon
My husband and I had a wonderful experience working with Jon Klein. Not only was he knowledgeable about the area, but he was available and patient. It was because of Jon that we found the perfect home and we could not be happier. If you're looking to buy/sell/rent, whatever you needs are, I would definitely recommend Jon for your needs. Continue Reading
Sure glad we went with Jon Klein
Sure glad we went with 'Jon Klein'
Jon knows his stuff! What seems to put him above the rest is that not only does he know Parkland and other surrounding areas like the back of his hand, but he knows who else to recommend to help you out through personal recommendations from his network of experts (real estate attorney, movers, etc.). No, there's no kickbacks involved, he just knows where to find good people to assist you in the buying and moving process. He'll help you sell current home and find a great new home like he did for my family. We are SO happy with our new home in Parkland! THANKS JON!! See you around town I hope!! Continue Reading
He knows the Parkland area
Jon's great! He knows the Parkland area and can find you the right property. He is very approachable and family oriented. Give Jon a try, you won't be sorry! Continue Reading
I met Jon at the house within hours and purchased our dream house from Jon that day
Jon was able to have the home we purchased from him e-mailed to my computer THE DAY IT WENT ON THE MARKET! I met Jon at the house within hours and purchased our dream house from Jon that day. Had he not gotten the listing to me that fast we for sure would have lost our dream house. Jon is our local realtor guy in town and you literally can't go to any bagel joint in South Florida without seeing his picture somewhere on the screens! Continue Reading
Thanks to his hard work I have a home I love!
Jon was great!!! Thanks to his hard work, patience and dedication I have a home I love! Continue Reading
We recommend Jon to all our friends and family!
I met Jon Klein 6 years ago when we moved from NY to FL. He has moved us 6 times. He is knowledgeable, trusting and truly cares. We recommend Jon to all our friends and family! Continue Reading
I highly recommend him if you are buying or selling a home
Jon Klein was fantastic! He worked diligently on our behalf to close the purchase of a short sale for us in record time. I highly recommend him if you are buying or selling a home. Continue Reading
Not only did Jon sell our house very quickly but he helped us find our dream house quickly too!!
Jon Klein was a pleasure to work with for both the sale of our old home and the purchase of our new home. He was extremely knowledgeable about the Coral Springs/Parkland area. Jon was patient and quick to get back to me with ALL my questions and concerns. Not only did Jon sell our house very quickly but he helped us find our dream house quickly too!! Continue Reading
Jon was on top of everything and updating me every step of the way
If you need a Realtor in the Parkland and Coral Springs area, Jon Klein is the one to go call. He listed and sold my Heron Bay home and then found me a new place. I have dealt with many Realtors in the past, but none pay attention to detail and respond as quickly as Jon. Communication is the most important thing I was looking for and Jon was on top of everything and updating me every step of the way. Continue Reading
My husband and I would highly recommend Jon Klein as the perfect real estate agent
My husband and I would highly recommend Jon Klein as the perfect real estate agent for anyone buying a home, townhouse or even renting a property. He truly listens to your requests, concerns and must haves and will show you properties that fit your requirements. He is a very friendly and warm person as well as extremely professional and knowledgeable in his field. We do believe that we found our perfect home solely because of Jon's expertise! We are sure your experience with Jon Klein will prove to be a successful and pleasant one! Continue Reading
Jon’s knowledge about the process and negotiation skills helped us get the house we wanted
Jon was very knowledgeable about the area. He was able to show us which areas we would want to be in, and which areas to steer clear of. Jon set up listing alerts for us, so that whenever a new listing showed up in the area we wanted, and in the price range we were looking for, it would email us the listing automatically, so that we were always among the first to see a new listing. When we finally saw the house we ended up buying, Jon's knowledge about the process and negotiation skills helped us get the house we wanted and at a price that didn't break our bank. I would definitely recommend Jon to other buyers/sellers. Continue Reading
Jon's knowledge about the process and negotiation skills helped us get the house we wanted
Jon was very knowledgeable about the area. He was able to show us which areas we would want to be in, and which areas to steer clear of. Jon set up listing alerts for us, so that whenever a new listing showed up in the area we wanted, and in the price range we were looking for, it would email us the listing automatically, so that we were always among the first to see a new listing. When we finally saw the house we ended up buying, Jon's knowledge about the process and negotiation skills helped us get the house we wanted and at a price that didn't break our bank. I would definitely recommend Jon to other buyers/sellers. Continue Reading
He was extremely knowledgeable about the Coral Springs/Parkland area
It was a pleasure dealing with Jon for both the sale and purchase of our new home. He was extremely knowledgeable about the Coral Springs/Parkland area. Not only did Jon sell our house very quickly but he helped us find our dream house quickly too!! Continue Reading
He responded quickly to e mails and phone calls
Jon was a pleasure to deal with in both the sale and purchase of our new home! He responded quickly to e mails and phone calls and promptly responded to take us to see any home that was listed in a very difficult market! He is extremely knowledgeable as well as personable and most important looks out for his clients with lots of TLC! I would highly recommend Jon!! Continue Reading
Got the job done when no one else could
Very professional, got the job done when no one else could. Even the dog, cat, & hamster loved him. He has a great crew working with him. Continue Reading
Jon’s top skill is really figuring out what his clients want
Jon is a breath of fresh air in a crowded real estate industry full of agents that have little idea about what they are doing and generally a waste of time. Jon is a true professional all the way through and his experience comes out in every phase of the transaction from showing properties, handling offers, negotiation and the process to closing. Jon's top skill is really figuring out what his clients want and not pushing properties that don't meet the client criteria. He also has excellent people skills that he leverages not only in client interactions but also when dealing with agents/owners on the other side. Jon also has excellent knowledge of the areas/neighborhoods he works in which is tremendously valuable for a buyer that is not familiar with the area. If you want only the best representing you then Jon would be an excellent choice! Continue Reading
Jon's top skill is really figuring out what his clients want
Jon is a breath of fresh air in a crowded real estate industry full of agents that have little idea about what they are doing and generally a waste of time. Jon is a true professional all the way through and his experience comes out in every phase of the transaction from showing properties, handling offers, negotiation and the process to closing. Jon's top skill is really figuring out what his clients want and not pushing properties that don't meet the client criteria. He also has excellent people skills that he leverages not only in client interactions but also when dealing with agents/owners on the other side. Jon also has excellent knowledge of the areas/neighborhoods he works in which is tremendously valuable for a buyer that is not familiar with the area. If you want only the best representing you then Jon would be an excellent choice! Continue Reading
I don’t recommend many people, Jon is one I would be willing to stand behind
In an industry that is littered with below average realtors, Jon is a true professional in every sense!. I found Jon to be very patient and professional in his dealings, he never pushed to make the deal, just stated the facts. He is an expert in the North Broward area, knowledge that comes in very handy during the buying the process. Jon also has great people skills, which he leverages effectively for his clients. I don't recommend many people, Jon is one I would be willing to stand behind. Continue Reading
I don't recommend many people, Jon is one I would be willing to stand behind
In an industry that is littered with below average realtors, Jon is a true professional in every sense!. I found Jon to be very patient and professional in his dealings, he never pushed to make the deal, just stated the facts. He is an expert in the North Broward area, knowledge that comes in very handy during the buying the process. Jon also has great people skills, which he leverages effectively for his clients. I don't recommend many people, Jon is one I would be willing to stand behind. Continue Reading
Jon Klein and his associate Sheila are the ultimate professionals
Jon Klein and his associate Sheila are the ultimate professionals. If you are looking for a real estate agent that will make the transaction as easy and simple as possible, you cannot find anyone better than Jon. He makes sure you are on top of every single step necessary to buy or sell a house. We did not have one hiccup throughout the entire process and we closed the exact day and time we were scheduled to close thanks to Jon and Sheila. They worked hand in hand with my title company, First International Title and mortgage broker, Express Lending Services. I am so happy that I chose Jon as my real estate agent and highly recommend him to anyone looking for an agent. Continue Reading
Sold in less than a week
Outstanding service, extremely satisfied with Jon. We used him to sell a second property which also sold in less than a week. Will continue to refer to friends and family. Continue Reading
Showed his expertise and knowledge in all areas of realty
Jon helped us first finding a rental in Parkland and then when ready for a purchase he showed his expertise and knowledge in all areas of realty. He has also recommended many local businesses that we have used. We highly recommend Jon and his team. Continue Reading
Showed us houses around our crazy schedules
Jon was available to answer my questions (night or day), and was available to show us houses around our crazy schedules. He is very knowledgeable about Parkland, which helped us pick the right community for our growing family. Continue Reading
Jon Klein and Sheila Hurst are the best agents out there
Jon Klein and Sheila Hurst are the best agents out there. They were helpful in every aspect along the way during the purchase of our home from everything to negotiating the deal, having things fixed in the house prior to closing, and the smoothness of the closing process. I couldn't have been happier with having them as my agent. I would recommend Jon Klein for anyone looking to buy or sell their home. Thanks for everything! Continue Reading
His entire team was fantastic
Jon has an excellent grip on the market in the Parkland area, and I could not imagine there is someone more qualified than him to assist. His entire team was fantastic, and you would be making a mistake if you didn't at least give Jon a call. He guided us, as first-time home buyers, through the entire process, and went above and beyond with excellent service, prompt responses, and general guidance. Continue Reading
Jon is a true professional
Jon was very patient with us while searching for our first home. We put our trust in him and he made it happen! Continue Reading
His entire team was fantastic
Jon has an excellent grip on the market in the Parkland area, and I could not imagine there is someone more qualified than him to assist. His entire team was fantastic, and you would be making a mistake if you didn't at least give Jon a call. He guided us, as first-time home buyers, through the entire process, and went above and beyond with excellent service, prompt responses, and general guidance. Continue Reading