3 smart moves for first-time home buyers

It’s time! For what you ask? To buy your first home. You’re excited and we want you to be as prepared as possible for the process and to make the right decisions. Once of the biggest challenges first-time home buyers have is lack of cash. Yes, generally down payment cash is lower since there is no cash from a previous home sale. This may slow the process down a bit, but in the meantime you can focus on these 3 aspects of the process.

1. Review ALL Your Mortgage Options:

Getting up 20% can be a challenge. Throw in a lower credit score (600s or low 700s) and you have yourself in a pickel. However, programs are available to you. Primarily Federal Housing Administration loans which allow you to put 3.5% down and offer better rates for those with hindered credit. Don’t give up, keep searching for a lender and program that will work for you. Be sure you understand their offerings FULLY before signing.

2. Work With A Real Estate Agent:

Their job is to know the market and be your guide to making the right new home decision. Human help, not just the internet, is still the best way to buy a new home. Local real estate agents understand general housing construction and features, and of course how to bargain so you get the best deal. Carroll Realty has a variety of qualified real estate agents specializing in Panama City, Panama City Beach and 30A. Each has their own unique skill set and style.

3. You’re Flexible, Use That:

Since you are not selling and buying, you have the power to delay move-in. This can be a powerful negotiating tool. If you are pre-approved and ready to move-in, this can miles in the negotiating process and gives your REALTOR® some real negotiating power.