Buying your first home is an exciting achievement, and buying in Utah is especially special with all the advantages living in the state brings. From strong economic growth to outstanding scenery home to world-class adventure sports, Utah is the place to be. Finding your dream home here is a cinch with this practical first-time buyer’s guide.
Before you do anything else, get your finances in order. How much you have in savings for a deposit, the current level of debt, and various other factors all impact affordability and, therefore, choice.
Taking your financial information to an independent mortgage advisor ensures impartial advice and often the best offers.
Several financial programs are available for first-time buyers, and your advisor will help find any you’re eligible for. Once finances are in order, get a pre-approved mortgage so that sellers see you’re a serious buyer.
Now you have a budget; it’s time to start looking at houses. Having drawn up a list of needs and wants, consult a resource for Utah MLS listings to see what’s available. Such tools help understand the local market and which neighborhoods best suit your needs.
Enlisting a reputable realtor will give access to expert advice and first dibs on new-to-market houses. Your realtor is your guide beyond viewings, helping negotiate the price and seeing the sale complete.
As such, you must take the time to find an agent with whom you’re happy and comfortable. Meet with a few people and find out what they can offer you, including listening to and taking you seriously.
Visit The Neighborhood
Part of what makes a house a dream house is its location; you need to know you’ll like living there. If you’re looking in suburbs of Utah that you’re unfamiliar with, going and seeing them in person is an excellent idea. Visiting at different times of day and week lets you see the area in various guises.
Home Inspection Report
Once you’ve found a house and had an offer accepted, a home inspection report ensures it’s truly your dream home. Although a home inspection report isn’t required for the mortgage, it could save you from nasty surprises after it’s too late.
Significant issues are costly to repair; if any are uncovered, you may decide the cost isn’t worth it and opt to pull out of the sale. Alternatively, if you’re happy to undertake the required work, the information in the report may allow you to negotiate a discount to cover the cost.
Now you’re a homeowner, look after your investment with homeowner’s insurance. Yes, it’s as grown up as it sounds! You can save additional money if your insurance company offers a discount for bundling policies. You’ll feel better settling into your first home as the owner, knowing that any issues are covered by insurance.
Congratulations, you’re ready to take the first steps to first-time homeownership. With expert advice on finances and the housing market, coupled with your own research, you’re sure to find a home you love.