18
5 Tips for Sarasota Newlyweds Buying Their First Home
Finding the right first home is much like finding the right life partner. Will it be love at first sight or a determined search? Are you looking for a fixer-upper to call your forever home--to have and to hold, to shape and to mold? It's a serious endeavor often fraught with pitfalls. First, you'll need a map and a good compass. Yes! A map of Sarasota homes for sale and a seasoned guide from our REALTORS® to point you in the right direction with these five tips for buying your first home.
1. Love Nest Wish List
Your love nest wish list is a compilation, using pen and paper, of all the things you are looking for in your first home. This is important. Don't wing it. Certainly, compiling a list of "things" is a rather broad task. Shorten it. Define what "things" means to you and your spouse. However, for the sake of buying your first home in Sarasota, the term "things" refers to quality, not quantity--what you need now with room to grow.
- Floor plan: Write down all the rooms you need and want (e.g. bedrooms, baths, kitchen size, family room, home office and bonus rooms).
- Square footage: How much square footage does your floor plan require?
- Landscape: Do you want to take advantage of Sarasota's year-round beautiful weather in an outdoor kitchen and pool?
- Location: Are school districts important to you?
2. Budget For Today, Tomorrow and # Years
Don't fudge the math or misplace a decimal point--it's number-crunching time. Yippee! Don't fret. You have a good plan in place, and you know where you're going. You have dreams. Absolutely! You also have a budget to map out for today, tomorrow and # years in order to make your dreams a reality.
- Credit report: Are you applying for a joint mortgage loan? What is your budget if only one spouse is carrying the note?
- Today: What is your price range today with a mortgage payment at 25% to 30% of your gross income?
- Tomorrow: If you choose to sell down the road, will it be desirable to potential buyers regarding local property values?
- Forever: Are you planning a family? Will you build out, convert unfinished attic space or undertake a different remodeling project?
3. Pre-Approved Mortgage
Not that long ago, you simply found the home you wanted, submitted an offer and went to the bank for financing. It is now customary to secure a pre-approved mortgage before a seller or agent will show you a home. However, you are not bound by the letter. Once you find the perfect home in Sarasota, shop different financial institutions for the best interest rate available to you.
4. Home Inspections
The last thing you want is to move into a beautiful first home only to discover problems with essential systems. Are there signs of roof leaks, uneven room temperatures, plumbing issues and/or electrical problems?
Don't be shocked after the fact if you come across system problems regardless of a home's age. Moreover, make sure a home inspection includes the age of HVAC systems and the roof--two major expenses should they need replacing.
5. Hiring A Real Estate Agent
As newlywed first-time home buyers, work with a real estate agent familiar with the communities that interest you. Our REALTORS® know the subtleties of Sarasota markets and will craft a realistic offer on your dream home substantiated with comparable statistics. We do the footwork and guide you through the entire home-buying process.
From your love nest wish list to closing, speak to a real estate agent with extensive experience in Sarasota homes for sale by contacting Wagner Realty.
