Your First Home

Keller Williams is one of the premier real estate agencies in training and teaching.  Whether you are a new agent or buying your first home, Keller Williams prides itself on having proven models that support your real estate goals.

In this blog session, our topic will be based on the book, Your First Home: The Proven Path to Home Ownership by Gary Keller.  Buckle up cause here we go…destination Home Ownership.

After Hurricane Katrina destroyed their beloved New Orleans, many former residents were asked the following question:

  • Besides “L-O-V-E” what do you identify as the most important four-letter word?

  • The unanimous answer was simply…

“H-O-M-E”

What does having a home mean to you?  For some it may be the freedom to decorate however one pleases.  There is no landlord saying no to your bold choice of a lime green bathroom.  For others, it may be the simple fact of taking a sigh of relief every time you walk through the front door of a place you call home.  Here are eight steps towards getting your foot in the front door, your front door.

  1. Decide to buy (A great place to start!)

A common fear is that you can’t afford to buy your dream home.  Fact:  The best way to get closer to buying your dream home is to buy your first home.

  1. Hire your agent

Choosing the right agent who will help and protect you in the home buying process.  They will take the time to understand your wants and needs and use that knowledge to help find you the perfect home.

  1. Secure Financing

Fear: I don’t have the money for the down payment.  The nice thing is that there is a variety of down payment options available to you.

  1. Find your home (The FUN and sometimes exhausting part:)

Define your home criteria.  You need to be clear on your wants, needs and values.  This will immensely help you, as well as your agent, in the home selecting process.

  1. Make an offer

The three components of an offer are price, terms and contingencies.  The offer must reflect the true market value of the home.

  1. Perform due diligence

While looking at homes there are some big things to keep a lookout for.  Watch for cracks or crumbling in the foundation, cracks inside the house over windows, water stains in ceilings, floors or walls and mold issues.

  1. Close

Preclosing responsibilities include: Appraisal, survey, title search, and title insurance.

  1. Welcome Home!

You are now an official home owner.  Here are some tips for good home habits.

  1. Keep it clean.

Perform routine maintenance on your home’s systems, depending on their age and style.

  1. Keep an eye on it.

Watch for signs of leaks, damage, and wear.  Fixing small problems early can save you big money later.  Tip: Keep a file of receipts for your repairs.

Realtor InsightMallory Johnson