First Time Buyer Checklist
Buying a home is an important decision and often challenging for even an experienced homebuyer. This list is designed to assist you in organizing the process and managing your priorities. We recommend you start a file for the complete home buying process and include this checklist as the first step.
Quick links:
Select an Agent
Location
Housing Style
Separate the need from the want
Budget
Feature List
Other Items To Investigate
Select an Agent
A good agent is your first valuable asset. Find out if they are: Full Time Experienced in the area you seek Member of the local Multiple Listing Service Realtor® status Representing: ____you ____the seller
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Location
Before you know what you want to buy, where you will live is a top priority. Consider carefully the following:
- Distance to job(s) How far are you willing to travel? ________
- Desired school district. Will this be important in your future? ________
- Proximity to transportation:
________ Major Highways ________ Airport ________ Bus Line
________ Close to Shopping ________ Worship ________ Schools
- Will your budget match the areas you selected? Look in the paper for home prices in the area you selected.
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Housing Style
Examine each family members personal needs for items such as:
- One level floor plan
- First floor bedroom
- Size of Home
- Number of bedrooms needed now and in the future
- Number of baths
- Number of cars in the family
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Separate the need from the want
Although you may want certain amenities, if the budget does not allow it, you may not need them.
- How long do you plan to live in the home?
- Are you willing to do fix up work?
- How long will family members live in the house?
- How often will you entertain?
- How often will you have overnight guests?
- Will you work from Home?
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Budget
Housing affordability is determined by a formula based on a ratio of income and debt structure. You will need to seek advice from a mortgage lender or bank. Please consult your selected Realtor® or financial advisor as soon as possible.
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Feature List
Having answered some important questions, it is time to review features that will best meet your personal needs:
Style: _____ Single Story _____ 2 Story
Type of Property: _____ 1 Family _____ 2 Family
_____ Condo _____ Townhouse
Age Of Home: _____ Build _____ New 1-5 Years _____ 6-20 Years
_____ 25-50 Years _____ Older Home _____ Historic Property
Energy: _____ Gas _____ Oil _____ Hot Air
_____ Hot Water _____ Central Air _____ Allergy Needs
Exterior: _____ Frame _____ Maintenance Free
_____ Brick _____ Other
Lot: _____ Size _____ Fenced _____ Treed
_____ Private _____ Sun Exposure _____ Road Set Back
Future Land Use: ________________________________________
(pool, swing set, deck, gardens)
Bedrooms/Baths: _____ # Bedrooms _____ # Baths
_____ Floor Location _____ Floor Location
Garage: _____ Yes _____ Not Needed
_____ Size _____ Attached (Y/N)
Features: _____ Pool _____ Fireplace _____ Jacuzzi
_____ Dining Room _____ Family Room _____ Finished Basement
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Other Items to Investigate: (Consult your Realtor®, Tax Assessor, or Attorney)
- Current Tax Rate: ________
- Increased Tax Rate Upon Purchase: _______
- Standard Contingencies in the Purchase & Sale Agreement
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