Being a first time Home Buyer is overall not easy, the popping out quickly to see homes, all the steps once you get a house “under contract”, the money that you have to spend, not to mention that the under $300k price point is still one of the hottest arenas in the KC market…needless to say you have to be prepared both mentally and physically to jump into this game. Hannah and Tom just closed on their very first home last week, so we did a little Q&A on what they learned and what advice they would give knowing what they endured and what helped them to get to the finish line.
Q: What was your biggest realization that you thought you were ready for and then realized you weren’t?
A: Overall how competitive the market is for first time home buyers. The first house we made an offer on had 22 offers total on it. That was more intense competition than we had anticipated, even knowing the market was competitive before we started looking.
Q: If you could go back in time, would you Buy a Home all over again?
A: Yes, we were very tired of renting and having a landlord, tired of paying rent. We were ready to have our own space and make an investment with our money rather than it going down the drain. The only thing we might have changed was to look in a broader area of the KC metro.
Q: How did you get back up and “keep at it” when your first few offers did not get accepted or a house was “sold” before you could even make an offer?
A: We were very determined to buy our first home. We switched off and on with being discouraged and driven, thankfully not at the same time. We relied on outside perspectives as well. Friends who had recently purchased a house would give us advice or sympathize with our situation. It was reassuring to know they had just gone through what we were going through.
Q: Do you feel like the house you just closed on was “meant to be your house”?
A: We’re not believers of a house is “meant to be”. We’re super excited about our house, though there were multiple houses we loved. We knew whichever house we ended up with was going to be OURS, and we loved that.
Q: What do you wish you would have known/completed sooner in the Home Buying Process?
A: We wished we would have started researching the home buying process sooner, maybe even a year before we started looking. We did the JCCC class and thought that was great. However the more knowledge the better when looking to find your first home. Meet with lenders to make sure your credit is good and your savings is adequate, and reach out to a trusted Realtor to see what the market is currently doing and what they feel like will be happening in the nearer or long term future.
Q: Give one piece of advice to buyers who are thinking about getting into the Home Buying Market.
A: Save your money for a larger downpayment or the costs that come along with buying a home. We kept with staying in our preferred price range and we’re so glad we did. Stay flexible, maybe in updates, location, or price. And keep at it! One day you will get your house. Have knowledge of the areas, see the comps, and understand what homes are valued at in the area you want.
Thank you Tom & Hannah for trusting The Taylor-Made Team to assist you two with buying your first home! We couldn’t be happier that you two ran the “marathon” and hit the finish line with a fantastic home, and an even more fantastic yard! Can’t wait for next year’s garden. 😉
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