10 Tips for First-Time Home Buyers in Charleston, SC

So you’re buying a house for the first time, but how do you know if you’re really prepared? When you’re making the biggest and most important purchase of your life, you’ll want to be sure you’re ready. Let’s go over some helpful tips that will get you your dream home

Decide What You Can Afford in Charleston
Keep Your Credit Score Strong
Start Saving Up Early
Fully Utilize Open Houses
Stay Within Your Budget
Consider Mortgage Options
Look Into Assistance Programs in Charleston
Negotiate With the Seller
Buy Quality Home Insurance
Pick a Good Real Estate Agent

Decide What You Can Afford in Charleston

Every time you make a large financial decision, you need to come up with a budget that gives you enough leeway so you’re not financially struggling after the purchase. The same is true for home buying. At the start of your home search, you need to know exactly what your limit is so you can have a clear idea of your price range and the houses you should be considering.

Keep Your Credit Score Strong

A high credit score could substantially lower the interest rate you pay on your home and make it easier to navigate loans and mortgages. Begin tracking your credit score before you purchase a home, and take steps to keep it strong.

Start Saving Up Early

It’s no secret that there are a lot of costs involved in buying a house. It may seem obvious to some, but it’s always a smart idea to consider setting aside money long before you intend to buy a house at all. If you’ve already been saving up for a while, you’ll already have a starting point to pay for the various expenses you’ll encounter like closing costs, down payment, and home repairs.

Fully Utilize Open Houses

When you’re considering buying a particular house and you visit an open house, keep an eye out for any red flags that might point toward serious issues. Is there any water damage, or are there any appliances that may need replacing? These could lead to costly repairs that lead to spending thousands more than you first anticipated. You’ll want to get a feel for the rooms and think about how the house might suit your needs. And if you have any questions or concerns, don’t hesitate to ask your Real Estate Agent.

Stay Within Your Budget

One of the most important rules when buying a home is to stay within the budget you’ve set for yourself. The pressure can be high when you’re bidding against someone to pay whatever it takes to get your dream home, but in the end, it’s never worth it to end up owing more money than you have to give. If you have to give up on one house because the price gets too high, don’t fret! There are other houses on their way to the market.

Consider Mortgage Options

Most mortgage plans fall under one of four categories: conventional mortgages, FHA loans, USDA loans, and VA loans. These all vary in terms of down payment, timeframe, and who has access to them. Before shopping for a home, do some research and decide which mortgage plan would suit you best. And at EmpowerHome Team, we have our very own in-house Mortgage Company, EmpowerHome Mortgage, which can help you get pre-approved fast so you can move into your dream home! Visit HERE for more information!

Look into Assistance Programs in Charleston

There are lots of programs, both online and in-person, designed to help first-time home buyers make the right decisions and get help or advice where it’s needed. Many states offer these programs in different cities and counties, and it might be a great idea to research these if you have questions about buying a home and could benefit from professional advice.

Negotiate with the Seller

During the negotiation period, you can ask the seller to make repairs to the house beforehand or even pay a portion of the closing costs for you. Their willingness to do these things will depend on the current state of the housing market in Charleston and the demand for the home, so be sure to discuss any negotiation tactics you have with your real estate agent first.

Buy Quality Home Insurance

Look into different homeowner’s insurance plans and make sure you’re prepared for anything that comes your way. The last thing you want to do is not invest in quality insurance and be caught having to pay for home repairs out of pocket.

Pick a Good Real Estate Agent

Since they are the avenue through which you find and buy a home, a real estate agent can really make or break your house-hunting experience. You want to make sure you pick an experienced agent who has the knowledge and skill to find you the best deal for your dream home. At EmpowerHome Team, we have decades of Real Estate experience, so you can rest assured that we know just how to find you the perfect house stress-free! Call us today to find out what sets us apart from other realtors!

If you’re a first-time buyer who still has questions, don’t worry! We’ve got you covered! On the first Tuesday of every month, we hold a FREE virtual First-Time Homebuyer Workshop for people just like you, who are looking to take the next big step in life! Hosted by Sarah Reynolds, EmpowerHome CEO, our workshop will tell you all the helpful insider tips you need to know before you buy your first home, including: