Video:First-Time Home Buying Tips

Transcript:First-Time Home Buying Tips

If you are a first-time home buyer, here's what you can expect from your home shopping experience.

Defining Search Parameters for First-Time Home Buying

Almost 80% of all home searches today begin on the Internet. With just a few clicks of the mouse, home buyers can search through hundreds of online listings, view virtual tours, and sort through dozens of photographs and aerial shots of neighborhoods and homes. You've probably defined your goals and have a pretty good idea of the type of home and neighborhood you want. By the time you reach your real estate agent's office, you are halfway to home ownership.

How Long Should It Take to Buy a Home?

A few buyers will look for years, but buyers who do that aren't motivated. A motivated buyer will find a home within two weeks. Good real estate agents will listen to your wants and needs and arrange to show only those homes that fit your particular parameters.

How Many Homes to See When Buying a First Home

The average number of homes that most agents show to a buyer in one day is seven. Any more than that, and the brain is on overload. Therefore, don't expect to see 20 or 30 homes; although it's physically possible to do so, you probably will not remember specific details about any of them.

Tips for First-Time Home Buying

• Do not shop for a home like buying a pair of shoes, going from store to store in a mall. When you find the perfect home, buy it.
• Keep an Inventory
• Bring a digital camera and begin each series of photos with a close-up of the house number to identify where each group of home photos start and end.
• Take copious notes of unusual features, colors and design elements.
• Pay attention to the home's surroundings. What is next door? Do 2-story homes tower over your single story?
• Do you like the location? Is it near a park or a power plant?
• Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest.

Additonal Tips for First-Time Home Buying

View Top Choices a Second Time: After touring homes for a few days, you will probably instinctively know which one or two homes you would like to buy. Ask to see them again. You will see them with different eyes and notice elements that were overlooked the first go-around. At this point, your agent should call the listing agents to find out more about the sellers' motivation and to double-check that an offer hasn't come in, making sure these homes are still available to purchase.

Making the Selection To Buy a Home: After showing a couple of homes, most real estate agents instinctively know which home a buyer is going to choose. But buyers should choose the home without interference from agents. Real estate agents are required, however, to point out defects and should help buyers feel confident that the home selected meets the buyer's search parameters.

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