The First Time Home Buyer

Chances are this isn’t the first time you have thought about buying your first home. Just the thought of owning your own home is exhilarating. We understand that and want to help you make that dream a reality.

In addition to the personal and emotional satisfaction of owning a home are the practical and monetary benefits. The two most notable; the equity accumulated when making mortgage payments versus rent payments and the tax deductions available to you come April 15.

Whether you are considering a pre-owned home, building a home or buying a completed new home, you need an organized approach and a professional looking out for your best interest.

As with all successful endeavors in life, the first step is to formulate a plan, the second step is to take action and the third step is to implement your plan.

Step One:

Review the home buying information provided in the links below and for your own benefit, determine and outline in writing;

• Your minimum requirements in a new home
• How much you wish to spend on a new home
• What town, city or general area you would like to live
• What you are looking for in a community or neighborhood
• What requirements you may have regarding schools
• Other location requirements you may have, e.g., shopping, gyms, lifestyle
• How far you are willing to commute

Step Two:

You now have a good idea of what you are looking for in a home and neighborhood and you need a professional Buyer’s Agent to help you implement your plan. Call the team at Lone Real Estate Group™ and let us get busy helping you make your dream a reality.

Step Three:

Let us mentor, guide and assist you throughout the entire home buying experience. Though it may be the largest and most important investment of your life, we will help educate you about the process, provide advice and support when needed and ensure you never feel alone at this most important time in your life.

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The Process

Task 1 – Get pre-qualified

We will put you in touch with lenders who we have worked with and trust. They are respected and professional lenders who have access to a vast number of programs suited to the first time home buyer. But we also encourage you to shop and compare.

These individuals are sensitive to, and understand, the concerns of the first time home buyer. They will take time to answer your questions and make sure you understand the mortgage process.

With their assistance you will be able to determine;

• What price home you are qualified to buy
• The amount of the down payment
• An estimate of the closing costs
• What the projected monthly payments will be

Once you have been pre-qualified and know how much home you can afford, the fun begins.

Task 2 – Meet with a Lone Star Real Estate Group™ team member

There are a lot of steps in the process between making the decision to buy a home and moving day. We have found our clients enjoy the home buying experience much more when they understand the process, the flow of things and what it takes to get from point A to point B.

We will schedule an appointment to discuss;

• Your home buying goals
• The aspects of house hunting and viewing properties
• What happens next when you find “the one”
• Each of the steps in the home buying process
• The purpose of a home inspection
• The difference between an appraisal and inspection
• What happens at closing
• At what point you receive the keys and take possession
• Answer any and all questions you might have

Task 3 – The Hunt Begins

You have now determined your financial range, your home buying criteria and you have educated yourself to the processes. The house hunting can now begin.

The next steps are;

• Viewing homes
• Modifying criteria as warranted
• Finding “the one”
• Reviewing area comps
• Deciding on an offer
• Making the offer
• Negotiating the offer
• Obtaining an inspection
• Negotiating repairs
• Completing the lender requirements
• Obtain loan approval
• Final walk-through of property
• Closing the transaction
• Moving into your new home

We will be there with you, from beginning to end, to make sure the experience of buying your first home is stress free, fun and exciting.  We won't be there to help you pack and move, but we will always be available to answer questions regarding the ownership of your home.  And when it is time for your second home, we will be ready and able to assist.  In fact, J Michael Zebell and Lone Star Real Estate Group™ would like to be your real estate company for life.


Information for the First Time Home Buyer

Information about Pre-Qualification and Home Mortgages