A first-time homebuyer’s advantage

Jaime Kilpatrick | Consumer columnist

Apr. 2, 2012 From Texas Real Estate

First Time Home Buyers Advantage

A first time home buyers advantage tip by Walt Temple Properties. My fiancé and I decided to make the transition from renters to homeowners at the start of the new year. And, of course, the step between the two roles requires us to temporarily become house hunters.

 Work with a professional

I’ll admit that I have a potential advantage over other first-time homebuyers. My real estate agent is also my fiancé – and he already has a network of professionals in place who we trust and who know the market.

But you don’t have to be engaged to a Texas REALTOR® to benefit from his experience and resources to get a first time home buyers advantage. Ask your friends, family, even coworkers, if they have worked with a Texas REALTOR® recently who they can recommend. Or, if asking for referrals doesn’t pan out, you can always use the Find a Texas REALTOR® search on TexasRealEstate.com.

A learning experience

Our first step after deciding to take the plunge into homeownership was to meet with a mortgage broker and get pre-approved. This helped me set a realistic budget and price range. Then I jumped into the world of MLSs, real estate websites, and FSBOs.

This, again, is where having a Texas REALTOR® close by to explain things comes in handy. For example, I have asked mine more than once to describe the difference between a short sale and a foreclosure while grocery shopping or explain the purpose of an option period over dinner.

The fun part

Our mortgage broker wished us luck in our search and was quick to remind me that even though it can feel overwhelming, shopping for your first home ideally should be fun. And I must admit that imagining possible home improvement projects and coming home to a place of our own is exciting.

Our next step is to decide what we’re looking for in a home – location, features, yard size – and decide what we’re willing to compromise on to get the best deal on a home we love. For now, the search is just the beginning.

Find Original Article at http://texasrealestate.com/web/2/21/more/040212.cfm