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Article #281: Real Estate 101: First Time Homebuyer's Guide

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"If you are going to be buying real Get a real estate dictionary or a basic
estate for the first time, the process book on buying real estate so that you
can seem overwhelming. Indeed, there's a can keep up with the conversations going
lot to learn. Of course, you'll work with on around you.
a professional real estate agent who can • You'll probably need to get a loan
help you to understand the process, but for buying first time real estate. Work
you should do some studying on your own with your lender to get the best rate
to make sure that you know what you're possible. You should also know that there
getting in to. This is especially true if are special tax deals for home owners,
you are investing in real estate with the especially in the year of purchase. Make
hopes that you'll be able to make a sure to work with a tax attorney to get
profit off it in the near future. yourself the best financial deal.
Before buying first time real estate, • It's a bad idea to be impulsive but
here are some things that you need to if you know what you want then you should
know: go after it. You probably aren't going to
• There are buyer's markets and want the first home that you look at. You
seller's markets and you should know when might not even decide to invest in the
you're in the midst of which. Pay first hundred homes that you look at. But
attention to the sale prices of homes in if you do walk into your ideal home early
the areas that you are looking to buy. on, it's okay to make a move on it. Just
Watch if they go up or down over time. make sure that you look realistically at
Following the trends will help you to the value of the home so that you don't
know when it's a good time to buy and get a bad deal.
when you need to wait. Most of buying a first time home is
• There's a slight difference between actually about using some common sense.
real estate agents and realtors. A Ask yourself if you'd let your daughter,
realtor is a member of the National grandmother or best friend buy the home
Realtor Association which involves that you want to buy. If so, you're
certain training. If a real estate agent probably getting yourself a good deal. If
gains this status, he or she might be a not, you'll want to do some more legwork
good choice. But a realtor may be someone and ask a lot of questions. It's okay to
who is not a real estate agent but rather be confused if this is your first time
is someone else in the industry (such as being real estate, especially since this
a home appraiser). Ask questions about is an investment that could benefit you
the professionals that you'll be working greatly if you play your cards right!"
with to make sure that you're working the Kinan Beck is the Broker and co-owner of
real estate agent or realtor that is One Source Realty in Austin Texas. Visit
right for your needs. Kinan's Downtown Austin Condos Guide,
• There's a language to be learned when visit his Austin Realtor website, & his
buying real estate for the first time. Austin Apartment Locator website. He has
You need to know about "closings" and seen considerable success in real estate,
about "amortization" on home loans and and looks forward to many more years in
about all kinds of other industry terms. the business.






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