Buyer's Resources
7 Tips if You're Buying an Albuquerque Home
Buying an Albuquerque home is not an easy task, especially if you are a first time home buyer. Here are a few tips to help you get started with process:
- Get prequalified first. Don't take a chance with such an important financial decision, make sure you understand what interest rate you're looking at and confirm what your payments are going to be on that new house.
- Choose your lender carfefully. Banks and credit unions are notorious at not being able to close on time. Hourly employees at the bank are not motivated to close your loan; commissioned loan officers need to close youtr loan to get paid. They are more motivated.
- Start early. Don't wait until a month before your lease is running out before you start looking at homes. It's going to take 30 to 45 days once you find the right home to get through the home buying process and get the keys.
- Take your time. There are a few home buyers who make up their minds very fast, but most buyers need time to consider the pros and cons of their favorite homes. This is especially important for first time home buyers.
- Focus on location. If you don't like the carpet you can change it. If you don't like the paint color or the appliances that are in the house, you can change them too over time, but you can't change the school district or the crime rate of the neighborhood you buy into. Focus less on changeble things and more on rule number one in real estate: location, location, location.
- Choose the homes you want to look at. Don't let your real estate agent choose for you. Have them set you up on an automated search in your price range so you can see all the homes you have to choose from.
- Pick your agent carefully. Make sure you are using a full time, experienced real estate agent like me! Be wary of agents who are new in the business or who do it "on the side." A more experienced agent will not be desparate to sell you the first home you like. I won't sell you at all; I will help you buy. There's a big difference.
There are just a few tips to get you started with the home buying process. Take them to heart, they are important, and of course if you have any questions or follow up questions you would like to ask, then contact me.
Rich Cederberg
Albuquerque Real Estate Agent
505.803.5012
