First-Time Home Buyers
If you are a first-time home buyer, use the guide below for helpful hints and tips and learn how to avoid common mistakes when buying your first home in Panama City Beach, FL.
- Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home.
- Pre-Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You'll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.
- List of Needs & Wants: Make 2 lists. The first should include items you must have (i.e., the number of bedrooms you need for the size of your family, a one-story house if accessibility is a factor, etc.). The second list is your wishes - things you would like to have (pool, den, etc.) but that are not absolutely necessary. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.
- Representation by a Professional: Consider hiring your own real estate agent, one who is working for you, the buyer, not the seller.
- Focus & Organization: In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Such items may include:
- One or more detailed maps with your areas of interest highlighted.
- A list or file of the properties that your agent has shown to you.
- Paper and pen for taking notes as you search.
- A camera to snap pictures of homes you have toured to help you remember your favorites and features you really liked.
- Visualize the house empty & with your decor: Are the rooms laid out to fit your needs? Is there enough light?
- Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? There are many houses on the market, so don't make a hurried decision that you may regret later.
- Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:
- Include inspection & mortgage contingencies in your written offer.
- Have the property inspected by a professional inspector.
- Request a second walk-through to take place within 24 hours of closing.
- You want to check to see that no changes have been made that were not agreed on (i.e., a nice chandelier that you assumed came with the sale having been replaced by a cheap ceiling light).
All the above may seem rather overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please contact us directly to discuss any of these matters in further detail.
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- 455 Harrison Avenue Group
- Adagio
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- Alaqua
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- Baker
- Bascom
- Baxter Subdivision
- Bay Breeze
- Bay County
- Bay Point
- Bayou Creek Plantation
- Bayou George Hts
- Bayou Pointe Villas
- Bayou Trace
- Bayview Heights
- Beachwalk Condo
- Bear Creek
- Bid a Wee
- Biltmore Beach
- Blountstown
- Blue Mountain Beach
- Boardwalk
- Boat Race Estates
- Boden Addition
- Brandywine Estates
- Breakfast Point
- Bream Pond
- Brentwood Estates
- Bridge Harbor
- Brighton Oaks
- Bristol
- Bunkers Cove
- Burnt Mill Creek
- Bylsma Manor Estates
- Calhoun County
- Callaway
- Callaway Forest
- Callaway Point
- Callaway Shores
- Calypso
- Campbellton
- Candlewick Acres
- Carillon Beach
- Carrabelle
- Caryville
- Cedar Creek Chase
- Cedar Grove
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- Celadon
- Chain Lakes
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- College Point
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- East Bay Point
- East Bay Preserve
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- Eastpoint
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- Emerald Cove
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- Lincoln Park
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- Long Lake Estates
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- Lyndell Plantation
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- Magnolia Beach
- Magnolia Place
- Magnolia Point At The Preserve
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- Malone
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- Marina Bay Condo
- Marina Landing
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- Martinique
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- Merry Acres
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- Newly Listed
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- Oak Hill
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- Okaloosa County
- Old Florida Village
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- Origin at Seahaven
- Osprey Cove
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- Riviera Beach
- Robindale
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- Sand Castles West
- Sand Dollar Estates
- Sandy Creek & Country Club
- Santa Monica
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