3 Things for First Time Homebuyers to Know This Season

first time home buyer

Despite the challenges and uncertainty in real estate right now, one demographic seems to be bouncing back lately (especially here in the Midwest). Yes, we’re talking about first-time homebuyers! While we try not to have favorite customers, all of us in the industry can agree there is something special about working with this group. 

So, if you’re partnering with first-time homebuyers right now, here are three things they should know. Feel free to be the one who brings this great advice to the table for them! 

Having a financial plan is especially important right now. It’s why the first few steps of this comprehensive buying guide are related to money. You need to be financially ready to buy a home, especially now in the face of affordability challenges. It’s important to establish a realistic budget and make sure you understand mortgage lenders’ criteria like credit score and debt-to-income ratio. Don’t think you’re ready yet? You can still talk to a loan officer about your best plan for the future.

There is a team of professionals ready to help you. If you’re a first-time homebuyer, know that a team of real estate professionals is ready to help you. Plus, what they can do for you may extend further than you think. Of course, we’re talking about our real estate agent friends, but loan officers, home inspectors, appraisers and your Stellar Title team are here to lend our expertise, too. Together, we work to make your journey home as smooth as possible. To our fellow real estate professionals, be ready to explain the value you bring to this adventure, especially to those who are buying for the first time. 

Be aware of fraud. Your job isn’t done once your offer is accepted. In fact, that’s when our fun as your title and closing company begins, but there’s an important caveat: scammers are active during this stage too. A recent survey reported that 1 in 10 recent homebuyers believe they were targeted by a fraudster – most commonly through BEC email scams. While Stellar Title does what we can to keep your transaction safe, everyone must be on the lookout. 

No matter who your buyers are, our team is ready to help with professional title and closing services. The Stellar Title team can’t wait to celebrate the joys of homeownership with all of you! Reach out to us anytime.