A potential client met with me wanting to know tips for first time homebuyers. I thought this would be a great opportunity to share the information for anyone in a similar position.

Real Estate is an Investment for Your Future

First, if you are looking at purchasing your first home, Congratulations!  This is an exciting experience to make an excellent investment for your future and to create a place that can be tailored to fit your needs and/or the needs of your family.

Real Estate May be the Biggest Financial Decision You Can Make

A new home may just be the biggest financial decision you make in your life, so it’s wise to consider these helpful tips when buying your first home.

First Home Checklist

First time home buyers! Let’s set you up for success with your first home checklist.

1. Write down a list of items you “want” in a home and a list that you have to “have” in a home.
2. Set a realistic budget so you don’t end up being cash poor and spending your nights worrying about being able to afford your home.
3. Consider the size of the home you want and if that is going to fit your lifestyle in 5, 10, 15 years.
4. Understand the difference in buying a condo, townhome, or single-family residence so you can narrow down your search.
5. Try to focus on an area or areas that you may want to live. Consider walking/commute distance to parks, shopping, eateries, schools, etc.
6. Drive by the area at all times of the day and night so you can get a really good feeling of the living conditions, noise level, neighbors, traffic that you will face if you move there. Take a walk, too, to really capture what you might miss when you’re driving.
7. Ask willing neighbors or residents what it’s like to live in the area you are considering and have them list the pros and cons.
8. Consider such determinants as HOAs, surveys, flood zones, fire zones, and any pending litigation from homebuilders or land issues.
9. Research if there are neighborhood activities that may help you meet people or become involved.
10. Interview several Realtors® and hire a reputable, licensed Realtor® who knows and services the area you want to live and has your best interests in mind. Have them show you comps of similar homes, take a tour with them, and allow them to represent you in the purchase of your first home.
11. Keep your emotions in check and try not to “fall in love with a home.” There is a lot of money at stake when you are purchasing your first home, and a reputable Realtor® will be there for inspections and be able to not only guide you through the process but will help you make an unbiased decision based on your needs, wants, and budget. If the home you “have to have” doesn’t work out, there will always be another.
12. Contact The Gamache Team when you are ready to purchase your first home. The Gamache Team specializes in all types of buyers, including first time homeowners. We have over 50 years of experience helping buyers and sellers with their real estate needs in Livermore, Pleasanton, Dublin, and beyond.

Best of luck to you on the purchase of your first home!