5 Quick Tips Every First-Time Buyer Should Know

By Fran Campbell - October 07, 2015

Buying a house at the Lake of the Ozarks can be a daunting and more than a little overwhelming - especially if it's your first time! Even if it's your fourth or fifth time buying real estate, having an experienced Lake of the Ozarks REALTOR® on your side can make a huge difference. This week, your friends at Fran Campbell Team are here to help you set yourself up for success with these quick tips that will make your life much easier.

1. Choose Location First.
You can change a lot of things about your new home after you buy it. You can repaint, remodel, and renovate anything you want, but there is one thing you will never be able to change: location. Before you even begin shopping for homes, you should choose where you want to live. There's no point in getting your heart set on a property that's in the wrong place.

2. Start Shopping Early - But Not TOO Early.
When you're buying a house, it's important to give yourself plenty of time to find the right home. However, be cautious about starting your home search too far in advance of when you're ready to buy - if you find the home of your dreams, you will probably want to move forward with the purchase immediately so you don't risk losing it to another buyer. By waiting to shop homes for sale at the Lake of the Ozarks until you are in a position to buy can help you avoid rushing into anything prematurely.

3. Get Prequalified or Preapproved ASAP.
Most of us can't buy a house without getting a mortgage loan. The loan approval process is a winding journey all on its own; depending on your progress on that particular journey, you can either aid or hinder your home buying efforts. Before you begin seriously shopping for homes, we strongly recommend you talk to a lender and get prequalified or preapproved. This will be very helpful going forward!

4. Always Think Resale Value.
It doesn't matter if you plan to live in your new home for five years or thirty-five years - when you're buying a house, you should always think about how much you will be able to get for it if/when you decide to sell in the future. Resale value can be affected my many different factors, such as the local school district, nearby construction, the view, and quality of the home. Ideally, you should make sure you're buying a home that you'll be able to sell easily (and for a profit).

5. Factor In The Cost Of Home Improvements.
Honestly, the odds that you will find a home you absolutely love and don't want to change anything about are pretty slim. Almost every buyer wants to change things about their new home after they move in, whether it's as simple as repainting the extra bedroom or as drastic as remodeling the kitchen. Regardless of what your plans are, be sure to consider the cost of your desired home improvements and make sure you set aside enough money to cover them.

Have Questions About Buying A Home? Fran Campbell Team Is Here To Help!
If you are thinking about buying real estate at the Lake of the Ozarks, come see us! Our team of experienced agents would love to help you find your very own Lake of the Ozarks condo or single-family home. Give us a call at 573-302-2390 or stop by our office to get the process started!

Contact the Fran Campbell Team to schedule a showing!