It is an Exciting Time to be a First Time Home Buyer in Wisconsin!
You’ve saved some money, done your research, decided you are tired of paying your landlord’s mortgage, and decided to become a first time home buyer in Wisconsin, specifically Menomonee Falls or the Milwaukee Metro Area. So, what comes next? At ERA MyPro Realty, we strongly believe that choosing the best realtor is the most important step a first time home buyer can make. Any realtor can look up property information for you and unlock the doors to the houses you want to see, but the right realtor understands that, for first time home buyers, there is a separate emotional side to the process that only the right realtor can help you navigate.
Now That You’ve Chosen the Best Realtor, What’s Next?
When selling your parent’s house in Menomonee Falls, Metro Milwaukee, or anywhere else in Wisconsin, your Realtor is more than just the person trying to help you get the sale completed; your Realtor is also there to help guide you through the emotional ups and downs that are sure to go along with the process. With me (a former social worker) by your side, you’ve picked arguably the best Realtor in Menomonee Falls (possibly the best in Southeastern Wisconsin) when it comes to keeping you on the path to a successful sale while also calmly, but thoughtfully navigating all of those emotions.
Steps on the Path
You’ve made the decision to buy your first house in Menomonee Falls or Metro Milwaukee, you’ve got me on board as your realtor, and you’re ready to start touring all of the coolest houses in the area. I am too, but before we head off to look at all of those awesome houses, you’ll need a few tools to keep you on the correct path.
You should start by choosing a lender.
Before even setting off on the home-buying journey, especially in the fierce seller’s market we are in right now, choosing the right lender will be almost as important as choosing the right realtor.
- Your lender will help you decide which loan option is best for you.
- Conventional
- FHA/VA
- Adjustable Rate vs. Fixed Rate
- Your lender will help you understand the costs beyond your down payment.
- Closing Costs
- Appraisal Cost
- Escrows & Pre-Paids
- PMI (if necessary)
- Your lender will ultimately tell you, and me, what your true price range should be.
- As a first time home buyer in today’s market, a solid pre-approval letter from a reputable lender is essential.
- The last thing you want to do is find your dream property, but not be able to purchase it because it’s out of your price range.
As your expert real estate guide, I can point you in the direction of several high-quality local lenders; you simply have to choose the one you like the most.
Next, we should set some initial parameters (features) for the houses we’re going to tour.
It’s okay to start with a wide search, but if you know you hate tri-level houses, we’ll eliminate them from the search right away. It isn’t a good use of your time to tour houses just to look at certain features (that you might have seen in the photos) when you know the layout isn’t going to work.
Since this is your first house, we should also look at school districts and other community features that appeal to you.
There are so many things that I want to tell you about being a first time home buyer in Wisconsin, and I’m sure that you have tons of questions as well; call or text me at 414-587-9691, or fill out the form below, and let’s continue the conversation!
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