Mistakes to Avoid as a First-Time Homebuyer with Niall Foy
Hi, Niall Foy here with DT Properties and eXp Realty. I'm here to tell you about mistakes to avoid as a first-time homebuyer.
These two huge mistakes could cost you thousands of dollars, or worse, they could cost the home of your dreams. Don't start your home search without reading my tips, then giving DT Properties a call more specific guidance for your situation.
Looking before Securing Lending
The first thing you want to avoid is looking at homes before you've had a chance to speak with a financial expert. Speaking with a financial expert will give you a clear idea of how much house you can afford.
You may have a dream property in mind that you may actually be priced out of, or you may not be giving yourself enough credit. and you may actually be able to afford a lot more home than you can even imagine. So speaking with a financial expert first, is the key step in deciding how much you can afford on your potential new home.
Limiting Lending Options
The second thing you want to try and avoid is only speaking with one lender.
By only speaking with one lender, you only really have one option. By speaking with multiple lenders, you'll be able to compare these options and see what works best for you.
By getting a lower rate on your mortgage, you could really save yourself thousands of dollars over the life of the loan. So by speaking to multiple lenders, you really put yourself in the best position to use your money in the best way.
Lending is one of the most important first steps to purchasing a home, but it can seem the most overwhelming to first-time buyers. We’re here to help guide you through every step of the process when purchasing a home, even that vital first step of securing lending.
If you’re considering buying a home in the Denver metro area, give us a call, we’d be happy to talk through some of the options available.