Tips for first-time home buyers

SARASOTA, Fla. (WWSB) -If you're buying a home for the first time, it may be hard to know where to start.

Senior Loan Originator, Susan Mazik, with Blue Skye Lending said before people buy their first home, they should have money saved up for their down payment.

Along with money set aside for the down payment, a new buyer should also factor in money for the closing cost. However, the closing cost sometimes can be negotiated so that the seller pays some or all of it.

People who plan on buying their first home should also look at their credit score. Buying a home will be hard if you have bad credit, so try to get improve your credit score before looking at houses.

Mazik said it usually takes new home buyers about a month to find a home they love. When looking for a home, especially in Florida, make sure to pay attention to where the home is located in reference to flood zones and how old the roof is.

“It’s so important to have a new roof because of the hurricanes, the insurance can become exorbitant if the roof is older because they want to make sure that roof conforms to all of those new codes from the hurricanes and then you get a reasonable rate on the insurance,” Mazik said.

Because many first-time home buyers have around the same budget, it’s important to have a pre-qualification letter ready before putting an offer on a house.

"In that price range it's difficult because as soon as they go on the market, a lot of them are sold. So that's why it's really important to get pre-qualified by someone prior to looking because you want to be able to get that pre-qualified letter the minute you find the house that you love. You don't want to be calling someone at that point in time to get approval because by then you will have lost the house," Mazik said.

It’s also important to note many first-time home buyers put in multiple offers before getting a house, so don’t get discouraged if you don’t get the first home you want.

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