Buying real estate is exciting, overwhelming and one of the most expensive investments you will make in your lifetime, so it is essential you are prepared throughout the process. As a first time home buyer in Portland, it is important to understand all of your options from financing to finding the perfect home. This mini guide will help you get started on the search for your dream home.
Get Preapproved
As a first time home buyer, before you set out to find the best real estate in Portland, it is important to know what you can realistically afford. Being pre-approved establishes the limit for your purchase and it increases the validity for any offers you make. Many sellers are more prone to accept an offer only if the potential buyer is pre-approved.
Find a Good Real Estate Agent
In order to find the best real estate in Portland, you will first need to find a good real estate agent. A real estate agent who is familiar with the area will know where the newest listings are and be able to provide you with valuable information about the neighborhood you are interested in. There is a lot that goes into making a good area such as how the schools are rated, where the closest stores are and even popular events local to the community.
Know Your Finance Options
There are several finance options available for Portland Real Estate, so it is important to research all of your options. For example, as a first time home buyer, you may qualify for a first time home buyer grant. Or if you find a foreclosure you are interested in, you may qualify for a FHA 203K loan, which is designed for real estate that needs work.. Make sure you discuss all of the options available with your real estate agent and/or financial institution.
Finding the best real estate in Portland means touring a vast array of properties. In order to limit the properties you tour to only those which meet your requirements, it is important to prepare a list of what you want and do not want in your home. For example, how many bedrooms and bathrooms do you want, are you willing to do some work on the home or do you prefer a turnkey property? Give your real estate agent the list of your requirements and make sure to only view the properties that are in your price range. It is also important to use a well-established local realtor, such as PDX Renovations LLC, who would how and where to get the best listings for you.
