What are the priorities for First Time Buyers?
By:Vicki Holton-Kirk Holton Team
New job, new city, or transitioning from a rental situation? First time buyers have all sorts of circumstances that put them in this category.
What are they looking for?…or what should they look for?
It is difficult to address every situation, but here is a list of some of the priorities of “first timers.”
1) Location , location, location
There can’t be enough said here. Does the location have a history of good resale value? Is shopping and transportation convenient?
A first time buyer should establish with a lender and ask for a good faith estimate of what costs are involved in buying a home/condo.
The lender will be able to guide the buyer as far as what price range he/she can comfortably afford.
Especially for single women, this is a huge issue. A first time buyer should go online and study the crime statistics in the areas
he/she is interested in. Does the buyer feel comfortable coming in late at night,
taking a walk? Is the area comfortable for the lifestyle he/she will lead? Is parking an issue?
4)Proximity to work
Will the buyer have an easy commute, or will the area be tough to deal with commuting to and from on a daily basis? As Realtors, we often hear, “I love our home, but I need to be closer to work.”
Does the new home/condo require a lot of work? If the buyer is out of town a lot, or spends many hours at work,
he should not buy a fixer-upper. Working all week ..then coming home to work on your home on evenings and weekends can get old quickly.
Assuming that the first timer is young, or very social, an area should be chosen where there are activities and facilities such as a clubhouse, pool, parks, etc. to provide a feeling of community.
There is nothing more exciting than buying your first “home”…what is your most important priority?