First-time home buyers in Chicago and the Northwest suburbs might feel a little anxious about the home search process. After all, Chicago area home inventories are still lower than normal, and homes can sell quickly. But this doesn’t mean you should jump at the first property you halfway like! A home that doesn’t meet your priorities could become an expensive regret.
According to Forbes, the average buyer spends about 17 weeks shopping for a home. When buyers find a home they like, 54% of them don’t succeed in the first purchase attempt. In one of our own examples, first-time buyer clients looked at about 30 homes before finding the right property! (See the video about their home buying journey!)
Patience and preparedness are essential to your home buying success! Here are steps you can take to make your Chicago area home search productive, and effective!
Attend a free, first-time home buying seminar. We offer them year-around throughout Chicago and the Northwest suburbs! Please register for the date and location you wish to attend. There’s no cost, and no sales pitch whatsoever!
Obtain a mortgage pre-approval. This process will tell you how much home you can afford. Your lender will examine your income, debts, employment data, credit score and down payment funds. Don’t have a lender in mind? Let us refer you! We know many trustworthy mortgage lenders who will explain all of your options, and help you find the best financing for your needs.
List your priorities. We suggest making a list of the things you really want in a home – as well as a list of the things you want to avoid.
Search for homes in your budget that meet your criteria. We can help with your home search, and alert you when new listings come to the market!
Set aside time to tour the homes you like. This could mean spending a number of nights and weekends exploring homes for sale. If you’re excited about home buying, this won’t be a chore! But if you have a busy life and numerous commitments, be sure to block out a set amount of time every week for your home search. Be as flexible as possible. Homes that are priced right in popular neighborhoods won’t stick around long .
StartingPoint Realty – expert help for first-time home buyers!
StartingPoint Realty proudly serves first-time home buyers throughout Chicago and the Northwest suburbs. We provide complete education and guidance during the entire home buying process! Attend a free home buying seminar to begin your path to home ownership!
We provide great resources to help you become a successful home buyer! Check out our list of home buyer assistance programs on our website!
Always feel welcome to contact us for help with your Chicago home buying questions!
Ryan Gable Broker/CEO Starting Point Realty
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