Issuu on Google+

Buying a home can be a daunting task. But if you’re confident and utilize the right resources, you can end up owning the house of your dreams. Those unaware of the housing availability and location, especially first time buyers, tend to miss out on great home deals. If you are eager to get into the market, then you should follow certain tips to best navigate the home buying landscape.

The benefits of buying a home far outweigh those of renting. Owning your home makes it a valuable asset, which could increase in value over time as well as provide you with several tax incentives during tax season. But all the details pertaining to home buying can be confusing. In order to get relief from that, it is advisable that first time home buyers accept help from their real estate brokers and loan officers. A professional broker from a reliable real estate agency could make your home buying experience an easy one. They are well-versed and prepared to answer many of the questions first time buyers have or should have, such as nearby traffic, neighborhood safety, traffic and more. Having an experienced loan officer will also help you identify what you can afford and which mortgage product will be best to finance your first home.

The first time home buyer program Dedham suggests these steps for first time home buyers:


Compare the prices of other houses in the area. Prospective buyers can do this by going through various real estate websites or contacting a real estate firm who will then appoint a qualified broker that can walk you through your search and pre-qualifications.

Inspect the condition of the house before you buy it. Chances are the real estate agent will make the prior inspection and advise you if any changes are required. One can even inspect the home themselves to see whether any extra costs have to be incurred for future repairs. Check how long the house has been on the market. If it has been on the market for a considerable amount of time, chances are you may get it at a lower price than originally listed.

Determine the monthly housing cost that you would incur from making this purchase. You should have an estimated budget and be committed to taking a mortgage you are able to afford. Talk to with a real estate agent to find out about the area’s real estate climate (i.e. whether housing costs are projected to rise or fall in the near future). Banks offer Fixed (FRM) or Adjustable Rate (ARM) mortgage options, programs that offer as little as a 3% down payment, special community programs, free pre-qualifications, $300 closing cost discounts, down payment and/or closing costs assistance for first time homebuyers that qualify.


Determine how much you actually want to buy the house. There are situations where you may have the perfect location and amenities available, but the prices may be sky high. So the first time home buyer should go to the right real estate agent to get the best possible deal in buying a new home.

Having money set aside gives you negotiating power. Putting a reasonable percentage into a down payment also means you will have equity invested in the house from the get-go. First-time buyers considering owning a new home must have the big picture in mind. They should understand that real estate is unpredictable and think every decision through so that they close on a deal with a sound mindset.

Buying a home should be a memorable experience for the new home buyers in Dedham, Sharon or any place. So get professional help and make your plan to get the beautiful home you want. DEDHAM INSTITUTION FOR SAVINGS 55 Elm Street Dedham, MA 02026 E-mail: yourlink@dedhamsavings.com Main Office: (781) 329-6700 Website: www.dedhamsavings.com


First time homebuyers tips