S2 Ep34 - 7 Things First Time Homebuyers Wish They Knew - a podcast by Brian Cook And Kindra Cox

On Season 2 Episode 34 of The Brian & Kindra Show, they discuss 7 things that first time homebuyers with they knew.

1. You cannot put a price on a great Realtor®. [And Realtors® cannot put a price on good education.] Part of being a great real estate agent is great education & lots of experience. Because real estate agents work on commission, many try to negotiate their fees, but in real estate agents, as in everything else, you get what you pay for, and real estate agents work hard for their paychecks. 
2. Set financial limits on yourself. Often, after speaking with your lender, you will end up preapproved for a larger purchase price, with larger monthly payments, than you will be comfortable repaying. Be sure to have your budget completed and know what you want your monthly payment to be, then your lender can tell you what purchase prices fit within your limits. 
3. You can get a home warranty. A home warranty is really a type of insurance to help pay for the major systems in home to be repaired or replaced should they fail. (Think heat & a/c, water heater, dishwasher, etc.) You can buy a home warranty at the time that you purchase your home, you can negotiate the purchase of one into your offer to purchase a home, or you can buy one at any time if you are an existing homeowner. Consult your local real estate agent for their recommendations on a home warranty company. 
4. Be prepared to move fast. Homes that are desirable go under contract quickly! This is why it’s important to be preapproved, so when you find the home you want, you can make an offer immediately. Additionally, the contract states that “time is of the essence”, and a lot happens quickly once under contract. Just know, once under contract, the work doesn’t stop, and you need to be prepared to be responsive to your lender & real estate agent.
5. If you see something, say something. There are no dumb questions! Don’t be shy when looking through a house about asking any questions or pointing out any issues that you see. If there is something on the contract that confuses you, just ask. 
6. You have to be ready to walk away. You need to know what you are comfortable with as a purchase price for a given home, and you need to be prepared to walk away if you cannot make the deal fit your requirements or if you get a bad feeling.
7. You have to listen to your opinion above all others. Buyers, especially first time home buyers, love to bring others along when house-hunting. This results in a variety of opinions and “helpful” advice. While two heads are better than one and experienced opinions are super valuable, you have to make sure that you listen to your opinion above all others. Deal breakers for some are not deal breakers for others. Know what you want and what you can handle. 

To listen to the full episode of The Brian & Kindra Show, search for them on your favorite podcast service or check out the video on YouTube by searching “The Brian and Kindra Show”. 

Brian and Kindra hope this information has been helpful to you. As always, if you have any questions or need help, please feel free to reach out to your local real estate professional.

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