First Time Las Vegas Home Buyers
Ready to Become a First Time Home Buyer?
Some think that owning a home is like renting and that you just make a mortgage payment instead of paying rent. Becoming a first time home buyer is much more than that, and preparing for home ownership requires that you take stock of your finances and your expectations.
For many people in Las Vegas, owning a home is a dream. For the home buying process to be the smooth and seamless experience it was meant to be, you need to be sure that you are truly ready, both financially and mentally, for the responsibilities that come with buying and owning a home in Las Vegas.
Our team of top real estate buyer’s agents and Realtors are here to sever you and your family. We’ll take you from renting to homeownership and make your experience one you fondly recall for a long time.
Questions for Prospective Homeowners
Are you ready to buy a home in Las Vegas?
Owning your own home in Las Vegas is about more than just being able to wait or decorate any way you like; it’s about being ready to take care of your home and property over the years, realizing that part of your income and time will go towards repairs and maintenance. It’s about being willing to take the risks of home ownership with a realistic expectation of the rewards.
Are you ready to buy a home in Las Vegas? Only you can answer this question fully, but we’d be happy to help you figure it. Contact us if you want to investigate he possibilities or visit Las Vegas homes for sale.
How much home can you afford?
It can be discouraging to find that your salary won’t stretch as far as the home you want to own. However, sacrificing a huge part of your income just to pay your mortgage can very quickly make home ownership a burden rather than a point of pride. It’s better to buy a modest home now and look at purchasing your “dream home” in a few years if funds are tight.
Know your debt-to-income ratio.
When you’re lookig to purchase a home, your debt-to-income ratio is something that lenders take very seriously. Your overall debt should not be more than 40% of your income, and your housing debt should not be more than 32% of your income to qualify for a good mortgage. What 32% of your income will buy depends on where you want to live. In rural or downtrodden areas for example, it can buy a very comfortable residence and ample acreage. In highly sought-after urban areas however, it may not even buy a 400 square foot bachelor suite.
If you’re curious about what your 32% can purchase, get in touch with one of our top realtors. We’re always happy to help you get to know the local market.
What do you want?
Do you like the idea of cleaning your own pool? Do you shudder at the thought of lawn care? Would you rather just pay a fee every month and have everything done for you? Would obeying rules about when you can have your garbage cans out bother you, or do you want to live in a neighborhood where everything is ‘just so’? The answers to these questions can help you narrow down the search for the right type of property for you.
We Can Help
You need a good agent who will work hard for you. The New Door Residential real estate team is dedicated to helping you find the right home in Las Vegas, at the best price. We want you to find a home that will make you happy and successful with your real estate ownership.
When you hire us to help you buy a home…
From the first interview that determines your home requirements, to the moment that you receive the keys to your new residence, we can help you with the complicated process of buying a home.
When you hire us to help you buy your first home in Las Vegas, we’ll start with an interview. We want to know what you want in a home and how much you can afford to spend on it. Then we’ll find a way to merge these two priorities and find a residence that you’ll enjoy owning.
Keep your objectives in mind when visiting homes for sale.
Sometimes the idea of owning a home can overwhelm your practical sense, so keep your feelings in check. Keep a list handy of the features that you need and want in a home, and judge each home by the list instead of by details that could distract you from your goal. When you’re alone with your agent, you can go over the pros and cons of each home. We can help you stay on track while still keeping our eyes out for a great property that you will love.
Make the offer.
Making an offer to buy a home can be a maze of “buyer”, “seller”, “deposit”, and “completion”. We’ll be happy to prepare the paperwork and go through it with you before submitting it. Remember, the seller may reject or counter your offer, so even at this late date, avoid setting your heart on the home you hope to own. You’ll probably have to write a deposit check to the seller’s broker to prove that you’re serious about your offer, so be prepared for this.
Get all necessary inspections done.
Once your offer has been accepted, a home inspector will check for signs of harmful materials like asbestos, lead paint, and mold. They’ll also check for evidence of pests, faulty wiring, and leaks. This is a crucial part of your home purchase. Not getting an inspection done means that you could be stuck in a home with a bad case of black mold and no recourse other than to pay for its removal.
Inspections typically cost a few hundred dollars, but again, this is more than worth it in the end. There are several inspectors in the area that we’d be happy to recommend.
Do a final walkthrough before closing the deal.
We’d be happy to do this with you to make sure that everything that you and the seller agreed upon is completed prior to the final signing.
Don’t hesitate to contact us to find out more about how we can make your home buying process easier!
Get In Touch
Please fill out the form below and one of our top buyers agents will get in touch to help you get started buying your first Las Vegas home