What to Expect When You’re Buying Your First Home

In life, some of the most monumental milestones are seldom what you’ve dreamed up in your head for all those years. For example, there’s no such thing as a “one rule for all” approach when it comes to buying a first home. Everyone’s situation is different and there are several factors to consider when making the best decisions possible for you and your loved ones.

Despite each person’s contrasting experiences with their first ever real estate purchase, there are also a few similarities that are to be expected.

The following are common experiences you may expect to encounter over the course of your first-time home buying journey.

Expect to have a lot of realtors to choose from

There are real estate agents from all walks of life who are experienced and skilled at dealing with your specific situation, no matter how unusual you may think it is. From part-time realtors who love getting stuck into a little real estate on the side to huge businesses with huge client lists, you’re likely to encounter a lot of potential agents to choose from.

It’s natural to be cautious here and to want to conduct your own independent research. It’s even encouraged. Real Estate Brokers like Compass have been subject to searches like “Is Compass Realty in trouble” before, and they’re one of the biggest brokerage firms in the United States.

It may feel a little bit overwhelming at times, especially when you’re being told so many different things by people hoping to gain your business. But if you trust your instincts and try to see several realtors before making a final decision, you’ll soon find your ideal candidate.

Expect to have regular communications with the one you choose

When you settle on the right agent, expect to receive regular updates on houses to view, details or iron out and some trust building between yourselves and the realtor who is working to make your goals happen.

Chances are that you’re currently working full time or looking after your family and that you’re busy enough as it is. But most realtors are fairly flexible and can contact you at your convenience. However, if you’re not being contacted regularly, and you find that it’s becoming more of a one-way conversation, it’s time to maybe reconsider your choice.

To avoid this becoming a big problem later on, make sure you ask about an agent’s flexibility and the number of clients they currently have.

Expect to have multiple open-home viewings

Prepare to see a lot of houses! Open homes are either fun or frustrating, depending on how keen you are to see the range of places within your price range. But whether you love them or loathe them, they’re a vital part of the home buying process, so you’ll need to learn to accept them either way.

You may not have as long as you hoped to view the place. So, try and go in with a strong game plan, a list of essentials to check out, and some time to just get a general feel for the home. Ideally, you should look at least twice before making an offer on a place. But if you’re too cautious, you may lose a perfectly good home to someone who was a little quicker off the mark.

Expect to bid against other people for your dream home

Speaking of making offers, you can also expect to encounter several motivated buyers who are also eyeing up your ideal house. Competing bids on a home are completely natural – it’s a pretty good sign that you’ve found a great place with a lot of potential.

However, with competing bids there comes the risk of making an offer that’s completely out of your price range. It’s important to tread carefully here, and not make a rash decision based on the fear of losing out on a place that’s now far too expensive. Remember – if you can’t afford to live comfortably there, your quality of life will significantly diminish and you’ll grow to eventually resent the house.

Expect to have concerns over making the right choice

No matter how perfect the place you finally settle on is, there are always going to be some worries and concerns about whether you’ve made the right choice. But rest assured that this feeling is very common after buying that very first home.

After all, you’ve just made one of the biggest decisions of your entire life and it’s a huge turning point for anyone. Try to stop for a second, take a moment to breathe, and keep moving forward. In no time, you’ll soon discover that those jitters have been replaced with confidence and excitement for the future.