When looking to buy a home for the first time, there are countless things to keep track of. While it’s an exciting time, it can also be very stressful for people who have never done it before. As a real estate agent, your job is to keep your clients informed, find them a great home, and make this journey as fun and exciting as possible. That may seem like a lot to keep track of for you, but you’ve done this so often that most of these ideas will be second-nature to you, so it’s just important to remember to focus on them a little more than usual for those soon-to-be new homeowners!
“Remind your clients to stay organized. There is a lot to keep track of when buying a home for the first time!”
Always remind your clients to check out the neighborhood thoroughly. If they’re looking for a close-knit community, they might want to focus on homes in neighborhoods that have community events, gatherings, and other activities. If they’re looking for more privacy, they might want to look at homes in neighborhoods that are more spread out. The area they choose to live in should be a good fit for them and their family.
Location is also a huge factor for clients who have to commute to work daily. Remind new homebuyers to look at how long their commute will be on weekday mornings, especially if they’re touring the home on the weekends, when there may not be as much traffic. You can also recommend they try the drive during morning or evening commute hours to get a feel for the trip.
While looking at neighborhoods, they may also find different types of homes in different areas. In the suburbs, they will probably find homes with bigger yards, which will be great for kids and pets. If they’re looking in the city, they may not have as much outdoor space, but they might be in a more convenient location. They should consider their current needs and their future needs when deciding how big of a home they need. If they are just one couple who would happily fit in a one- or two-bedroom home but are planning on having children soon, they may want to look at three- or four-bedroom homes to eliminate having to move again soon. Reminding them to think of their main priorities and intentions for their new home is essential. It will help encourage them to pick the house that will be the best fit for them and their family.
New homeowners may feel inclined to buy homes that require a lot of fixing up. DIY projects are all the rage right now, and while they can be fun, satisfying, and cheaper than hiring someone, they also take a lot of work. Make sure new buyers are up for the challenge and ready to take on the time commitment of completing home renovations themselves. If they aren’t interested or prepared to commit to renovating themselves, it may be better to show them houses that will require less work to be their dream home!
“Many institutions offer special loans and programs for first-time homebuyers. Help your clients find what’s available.”
Dream homes are fantastic, but there can be sticker shock when it comes to buying a house that has been recently remodeled or buying a home that is going to need remodeling. Remind your clients that there will be some costs associated with a new home that aren’t included in the house price. They should be prepared for renovations, moving fees, new furniture, and everything else they need to comfortably set themselves up.
The financial strain of buying a new home can be scary, but there are plenty of ways to offset the costs, save appropriately, and make smart decisions. New homeowners should meet with their bank or financial advisor to discuss their budget and see what options they have. Discussing all the options is important and will make them feel better about their purchase in the long run. A home is a financial investment that will pay off in the long run!
In fact, for your first-time homebuyers make sure to check with a mortgage broker to see what local programs may be available to them! Some cities offer to cover the closing fees to encourage people to move back into specific neighborhoods, and many financial institutions provide loans for first-time homebuyers. There are tons of programs and guides available to help them find the perfect home.
