Home Buying in Albuquerque>Question Details

Trulia, Other/Just Looking in San Francisco, CA

What are some surprises that first-time buyers encounter when purchasing a home?

Asked by Trulia, San Francisco, CA Thu Mar 1, 2012

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Buying your first home is an extremely exciting and rewarding experience if you have the right Realtor working for you. Since purchasing a home is likely going to be one of the largest purchases you make in your life thus far, you want to make sure your Realtor has educated you & helped you decide on: the area(s) of town you are interested in, the type of home loan that best fits your needs, whether or not to negotiate closing costs in with your offer, the price range you want to buy in, whether or not you are interested in foreclosures, what type of inspections to ask for,as well as, the size & condition of the home you want. You also want to make sure that your Realtor works with a lot of first time home buyers, is a fabulous negotiator and works with reputible inspection companies.

Knowing these things and asking your Realtor for references from their past clients will ensure that any surprises you encounter along the way will be handled appropriately so your home buying experience results in a sound investment for your future.

I would love to speak with you about all of these points in more detail if you have some free time today. I have worked with a lot of satisfied first time home buyers and would love to give you more advice on what to expect and where to go from here. I can be reached at 505-440-2990 or via email at matkins@swcp.com anytime. I am ALWAYS working!!!

Sincerely,

Monica Atkins
Multi-Million Dollar Producer
Associate Broker/Realtor
Re/Max Elite
505-440-2990 Cell
505-715-5005 Direct
http://www.MonicaAtkins.net
2 votes Thank Flag Link Thu Mar 1, 2012
Yes, indeed, a good Realtor will always give you good advise to the extend of his/her ability. They are the professionals when it comes to questions in reference to cost for repairs when purchasing a property and I'm sure they will recommend a good home inspector as well. However, in reference to your mortgage loan closing cost you should NOT have any surprises there. You should also have an experienced seasoned professional Loan Officer as well. An estimate of your closing cost should be given to you very early on the transaction, not at closing. Having a good Realtor and a good Loan Officer will make your purchase a smooth and pleasant transaction.

Jewel Casablanca-Wagner
Gateway Mortgage Group
505-508-8372
2 votes Thank Flag Link Thu Mar 1, 2012
Costs to close, make some changes after closing, and move seems to always be underestimated. There are tons of little costs that add up. If you have a good broker, there should not be any significant surprises. Occasionally, some turn up in inspections, but when nobody knew the problem existed, it is usually something that can be resolved by the seller. If you are not from Albuquerque and are buying here the first time, people sometimes do not realize the differences between investing in the west side and east side. Again, a good agent should ensure no surprises.
2 votes Thank Flag Link Thu Mar 1, 2012
One big surprise is, issues with their credit that they were not aware of. This is why getting prequalified is a critical first step to the home buying process. You do not want to spend weeks to months house hunting, only to find out that you have collections, etc. on your credit.

Another surprise is, what can come up during an inspection. It's important to have the necessary home inspections on a home to determine it's overall condition. The last thing you want is, to bypass an inspection, close on the home, then find out the pipes are busted once you move in.

There are many things to keep in mind when purchasing a home. Connect with me for other important aspects first time buyers should be informed of before, during and after purchasing a home.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
Web Reference: http://www.Syan.com
1 vote Thank Flag Link Fri Mar 2, 2012
How low their monthly payments are and How high their total net worth rises compared to renting!
1 vote Thank Flag Link Thu Mar 1, 2012
There should be NO Surprises if working with an experienced agent on your side. There may be some ups and downs along the way, however, nothing that your Realtor hasn't discussed with you that may or may not ever come up. Its always nice knowing someone is watching out for you at all times.
0 votes Thank Flag Link Thu Mar 1, 2012
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