Smart First Time Buyers


Here are some questions to consider when purchasing a home for the first home. Read these answers so you can become a smart first time buyer!

1. Should I Buy A Home Or Rent?

When you rent, you pay a mortgage – not yours, but your landlord’s. When you pay rent, the money is gone. Sure you have a home, a place to live, but can you tweak it to really make it your own? You might not be able to garden, paint, hang pictures with nails, or have a pet… the list goes on. When you own your home, property taxes, the interest part of the mortgage payment, and in some cases, a portion of the common charges, may be tax deductible. The resulting tax savings can be significant.

2. The Importance Of A Real Estate Agent

At Signature Premier Properties, all agents go through extensive educational training before they can practice real estate. A Signature Premier Properties agent will listen to all your wants and needs to find you your perfect dream home. They are well versed in many different neighborhoods and the pricing of each area.

In any market, hiring an experienced negotiator may save you thousands of dollars. Our agents handle negotiations through every stage of the deal, from the original offer, accepted offer, engineer inspection and the appraisal process. An agent with great negotiating skills is very important to having the deal go smoothly.

3. How Much Money Will I Need To Buy A Home?

Generally, you will need enough money to cover the down payment, which is a percentage of the cost of the home that you must pay when you go to contract, plusclosing cost (the cost associated with processing the paperwork to buy a home).

4. How Do I Know Which Mortgage Is Best For Me?

From first-time home buyers and Veterans Loans, to Conventional and Jumbo loans, a Signature Premier Properties agent will provide you with recommendations for reputable mortgage bankers and finance companies that will assist you with your pre-approval.

5. What Will Happen At The Closing?

In a nutshell, you will sit at a table with your agent, your attorney, the agent for the seller, often the sellers themselves, your seller’s attorney, possibly a representative from the bank, and many papers requiring your signature.

While you will receive an explanation of each page, take the time to read each one and consult with your attorney to make sure you know exactly what you are signing. Before your scheduled closing date, your lender is required to give you a document explaining the closing costs and a list of documents you will need to bring with you at closing. If you do not receive those items, be sure to call your lender before you go to closing, and do not hesitate to ask any questions.