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5 Tips Prior to Meeting with a Realtor as a First Time Buyer

5 Tips Prior to Meeting with a Realtor as a First Time Buyer

There are many things that happen prior to finding a real estate professional that should be accomplished. Below is a list of 5 top tips to do before meeting your real estate professional.

  1. Budget:
    Yes, the first and foremost item on the table to be discussed before purchasing a home, is if there is enough income on a month-to-month bases to support a mortgage verse rent. As we all know, if a 30 year fixed mortgage is purchased, this is a great way to know exactly what the monthly housing costs will be, instead of rent that will continue to rise. A good rule of thumb is for a couple to set aside is 25% of the total income accumulated a month to be budgeted towards the housing expenses discussed. This amount covers the mortgage, which includes principal, interest, taxes, and insurance.
  1. Research Area:
    This was a must as one of the key topics to place into this five tips list. Buying a property is a long term game plan, and that means you and your spouse should research different areas to find what area will fit best. Even as a single buyer, certain areas will appeal more than other areas. Check out the school districts in that area, the traffic, the distance from home to work, the safety of the neighborhood, any restrictions the city has placed upon the community, and distances between home and local businesses.
  1. Down Payment:
    It’s a fact that 62 percent of Americans couldn’t come up with $1,000 if they needed to when asked in a study conducted by (Market Watch). It’s a big deal not to have that down payment access for the home you want to buy at the time it’s needed. Your savings account will need to be bulked up if there is not a lot of available cash in the account now. The account where the savings is placed should be continuously fed during the research of the area to make sure a purchase can happen when it is time. There are many different down payment assistant programs, and I’ll discuss more possibilities in later articles.
  1. Loan Professional:
    The next big step is to find a loan professional that has the heart of a teacher. As you search for a mortgage expert, it should be a person willing to teach more than they sell. These professionals have the key to unlock the information that will give a buyer (you) the ability to buy the home of your dreams at a certain price. A mortgage specialist calculates a purchase price number by debt to income ratio, and many other factors to land on a purchase price number. It is all done while they explain every move to you during the process, hints the heart of a teacher.
  1. Pre-Qualification:
    As the final step prior to meeting your realtor approaches, it is very crucial to complete a pre-qualification process with that loan professional. This pre-qualification is the golden ticket that grants you (the buyer) a green light to buy a home listed at a set price. It’s a must have at the end of the process to hand over to your realtor, and then start looking for that perfect house in the perfect area.


These five tips seem easy and some unnecessary to have to perform prior to talking with estate agent; however, they are critical. If these five steps are not exercised before getting into the office with your realtor, then the process will be delayed even longer.



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