First Home Buying Experience, As The Buyer!

In February 2015, Greg and I purchased our first home. Because this was the home Greg grew up in, buying this home was very special to us. The home we bought from his parents has been in his family for over 30 years, so it was an awesome experience to be able to share with his parents. 

Although I have been helping others buy and sell real estate for almost 2 years, it was completely different experiencing a transaction as the buyer. I can honestly say that experiencing the purchase of a home, as the buyer, has made me more aware of all the details and steps in the home buying process. With that being said, I have a list of 5 things I have learned while buying our home. This is my advice to anyone purchasing a home for the first time:

1. Hire a Realtor

Well hello?! I'm definitely going to use this time to encourage you to use me as your Realtor, but this could not be a truer statement. Honestly - if I didn't do this every day, I would have no clue what to do when buying a home. There are so many forms, too many different people you have to talk to (title company, lender, insurance agent, etc.), and way too much real estate and legal “jargon” to keep up with!  Hire someone, like me, to do all this work for you. It will make your buying process much more enjoyable.

2. Keep a calendar

From start to end, buying a home is basically 30-45 days of deadlines. From getting your disclosures signed and sent back to your lender or getting your insurance information together, EVERYTHING has a deadline for completion. By keeping a calendar, you’ll know exactly what’s due to who by when. The sooner you get everything completed and returned back to the person requesting it, the transaction will go super smooth!

3. Choose your lender wisely

Compare lenders and choose one you feel comfortable with. It’s very convenient to be able to text your lender and find out the status of your loan. Some lenders even send emails with status updates to all involved parties. Not sure where to go to find a lender? If you bank locally, you can always start there. If you’re looking for someone to help you, I have several lenders I can refer you to!

4. Keep up with EVERYTHING!

When we applied for our loan, we were requested to furnish several documents including previous tax returns, W-2s, bank statements, etc. If you’re good with record-keeping and organizing, this shouldn’t be a problem. Some items are accessible online and through other channels, but it helps to have everything at your fingertips. Plus, you’ll want to keep all your closing documents and other forms you were given AFTER your house closes. You never know when you might need access to some document from your closing. Get organized and keep all your documents from your home buying experience in a safe place.

5. Find a home, within your means, that makes you happy!

If this is your first time buying a home, let’s be realistic. You may not be able to afford the $500,000 house you saw on HGTV last week. Find out what budget you feel comfortable with (and are approved for) and find a home in that price range. If you have a lower price range, learn to look past 1970s wallpaper and outdated light fixtures. With a few small “weekend” projects, your first home purchase could turn into your dream home and maybe some major equity when you decide to sell in the future!

Greg and I are so grateful to be homeowners, and I am so thankful for this experience. Not only do we have a beautiful home to raise our daughter in, but I was able to experience FIRSTHAND what my clients experience during a transaction. It has opened my eyes, and I feel it has made me better at my job. If you or someone you know is in the market to buy (or sell) their home, let me help you. If you have any questions, feel free to contact me. I’m always available to help!

Jessica Holmes

Realtor for Mobbs Real Estate Group

(903) 987-0685

jessica@mobbsrealestate.com