Hindsight is 20/20

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As I look back over my "adulting" process and exam the steps, it took for me to get to where I am today, purchasing my first home was one of my most outstanding achievements.  When I was 30 years old and renting an apartment in Dunwoody, GA. A couple of my friends were starting to look at rental properties and buy homes. As I participate in the conversation, I remained unbothered. I mean, I'm a leader, not a follower, so my instinct was, "good for them!" I wasn't ready yet; at least I didn't think I was. And then, all of a sudden, I couldn't sleep at night, and all I could think about was buying a house. I started bugging my friends about their process and asking how I got started on my homeownership? I had questions like "How much money do I need?" "How do I get the loan?" "Do I make enough money?" I mean, the list of questions went on and on. 

As the old saying goes, hindsight is 20/20, and if I knew then what I know now, I would have done a few things differently. Like what, Rae, you ask? Well, to start,  I would have taken my time choosing a lender. Choosing a lender is your first step towards purchasing a home. Many people feel that you must first find a Realtor, and it's okay if you do, but as Realtors, a client's golden ticket is called a pre-approval letter that tells us how much you can purchase a home for and that comes from your lender. The lender is a critical piece of this process because they help secure the loan that works best for you. A lender also locks interest rates and educates you on any available programs for first-time homebuyers. 

I can tell you that I was not aware of first-time buyer programs or that I could have shop rates within a specific time frame, and my credit score would only take a one time hit. I don't know; I just wanted to buy a home and loan types, FHA or Conventional. When it came down to it, I was told what loan I qualified for. I was told my interest rate, and I was told to hurry, and if I'm honest, I felt like I was told what house to choose.  That's was it. I'm sure there was money out there to assist me with my down payment, but I was not aware of them from my lender. I know what you're thinking, I was 30 and should have known some of this, but I didn't. And many buyers don't. 

If you are in the process or even considering buying a home, start with a lender. Once you have located an individual you are comfortable working with and is willing to answer your questions and then find your Realtor. Choose a patient Realtor, a great communicator who sets reasonable expectations and will explain what your out of pocket expenses will be. (because there will be some). Buying a home is one of the most significant purchases you will ever make, and I do not recommend doing this alone because it does not cost you a thing to have a Realtor you trust to guide you through the process of buying a home. Now don't get me wrong, my Realtor wasn't bad. Still, as a first-time homebuyer, I needed some extra TLC. 

If you are in the market to purchase a home, download my free eBook, The Ultimate Guide to Buying and Selling a Home, for more home buying tips.  

Until next time,

Rae