First Time Buyer

7 Tips for First Time Home Buyers in Fairbanks and North Pole

  With historically low mortgage rates and excellent values in homes now makes you want to get on the homeownership band wagon, get educated first:  

First time Alaska buyersHere are some tips to keep in mind when starting out on buying your first home.

1. Get financially ready - Sit down with a lender and go over all your income  and your debt and find out how much home you can afford and get it in writing. Then learn about the homes for sale in the area you want to buy.  Prices can change from one community to another.

  • 2. Take your time - Start your search online, in magazines then take a drive by. You may love the home on paper but once you see the neighborhood, you may have a different oppinion. Let me get started on a search for you of the entire Fairbanks North Pole area. Make sure to include details such as layout and yard size not only how many bedrooms and bathrooms you may need.

3. Realize you may not find the perfect home - The perfect home probably doesn't exist so don't set your sights so high that you will be disappointed with every home you view. Keep in mind the amenities you really want and those you can live without if the right home comes along.  Make a list of what's important to you size, condition, location, style and price. That way you can zero in on a home that comes closest to suiting your wants and needs.

  • 4. Make sure you are present for the inspection - We recomend always getting an inspection on a home even if you are buying the home regardless, but we also recommend going with the inspector on the inspection. A good inspector will go over all the details of your home present and future issues. Your roof may be fine now, but in the next five years will need replacing and an inspector can go over all the potential issues with you on the spot.

5. Pay attention to the little things -  Sometimes you can get so wrapped up in the excitement of a new home that the details can get overlooked. Pay attention to how a home smells. A strong odor especially a musty one can be an indication of a bigger problem such as mold.  Look at small details, not just the big picture. If there are cobwebs in the corners, dirty windows, weeds in the lawn and leaves in the gutters, the sellers obviously didn't do a good job of keeping the property clean. If they haven't taken the time and money to maintain the little things, there's a chance they've let big things, such as plumbing or the heating and cooling system, fall into disrepair. (ourKlickitat county real estate affiliate has a great article on the power of smells.)

  • 6. Be ready to negotiate. Buyers are in a great position right now as there are so many sellers and not many buyers Try to be sensative to the sellers out there that have lowered their price almost below what they owe but still you are in a great position to request a lower price, closing costs or inspection repairs.


7. Don't spend all your money on the down payment. If you're moving into your first home, you'll have to buy things you never needed before, such as lawn mowers, yard tools and major appliances. Also, the inspection is usually done out of pocket so keep some extra aside when buying a home for this cost.








 

 

 

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