If you’re a novice at home buying, rely on an experienced real estate agent. Like any first-time purchase, never risk going it alone to avoid the biggest mistakes when buying a home.
Your agent will know the market and every detail of the home-buying transaction, from pre-qualifying for a mortgage to the cost of property tax and other expenses to factor into your decisions.
Home buying tips for first-time buyers
Calculate how much you can comfortably afford and how much you’re likely to need for a down payment.
You’re not done yet: Most communities in South Florida are part of a state-regulated homeowner or condo association that covers the cost of amenities and routine maintenance like landscaping. So factor an expected association fee into your costs. If you opt for a neighborhood without an association, add your expenses for a swimming pool and landscaping services at a minimum. Then explore the property tax rate in that county and any exemptions. For instance, the Palm Beach County Property Appraiser offers a significant Homestead Exemption if, by Jan. 1, you’re a permanent resident of the State of Florida, hold title to the property, and make the property your permanent residence.
See if you qualify for a VA or other government loan. If not, check commercial mortgage rates. Your real estate pro may even require you to be pre-qualified by your lender before you approach a buyer with an offer.
Mistakes to avoid when buying a house
Not choosing a real estate agent who knows the territory and is as highly qualified and credentialed as Lang Realty requires. Not factoring in all the added expenses like association fees and property taxes. And always make sure the homes or condos you choose to explore are realistically affordable.
