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January
25

Newlyweds Buy First Home
Las Vegas is famous for its casinos, shopping, nightlife, and wedding chapels. 

Our real estate agents live and work in Las Vegas and have helped numerous newlyweds find their dream homes.  When you're ready to start your search for Las Vegas homes for sale, we'll be here for you.  In the meantime, consider these ten tips for Las Vegas newlyweds buying their first home.

  1. Make sure you're ready
    Being a homeowner means no landlord, no rent, and no one telling you what you can hang on your walls. You'll also have the added responsibilities of mortgage payments, homeowners insurance, utility bills, property taxes, maintenance, and upkeep. It's a long-term financial commitment. Only you can decide if you're ready.

  2. Decide what kind of home you want
    It's a good idea for you and your spouse to agree on what kind of home you're looking for. It's not just about design or style. Your home must meet your guidelines for age, size, construction, and location. Your decision should acknowledge any future plans to have children.

  3. Negotiate the must-haves
    Do you know what your spouse wants in a home? As newlyweds, you're just getting to know one another. While you might require an eat-in kitchen, your spouse might insist on a dining room that will accommodate the extended family. You should agree on your must-have features early in the home-buying process.

  4. Decide where you want to live
    If you match 2017 homebuying trends, you'll likely stay in your home for at least a decade. It's important to choose a neighborhood that supports the way you want to live.

    You should feel safe and secure, inside your home and out. Your home should have access to recreation, grocers, and amenities that are important to you. If you plan to have children, you'll want quality schools and safe play areas. Online resources such as city-data.com and greatschools.org provide analytical data that can help you decide.

  5. Study your finances
    If you have dings in your credit, you should manage them before they derail your mortgage approval. Your mortgage company will also ask you to document your job history, income, savings, and other aspects of your finances. You can begin reviewing your finances with free credit reports at annualcreditreport.com.

  6. Know your home-buying budget
    Do online research to determine what your ideal home might cost. You can then use a mortgage calculator to figure out your approximate monthly mortgage payment. This will help you decide what you can afford based on your income.

  7. Get pre-approved
    When you seek pre-approval, your mortgage company reviews your finances to determine if they might approve your mortgage and if so, for how much. Pre-approval letters tell REALTORS® and sellers that you're serious about buying a home.

  8. Find a real estate professional
    A REALTOR® can help you through the home-buying process. Look for a seasoned professional who can handle details from the beginning of your home search until the end.

    - Home improvement recommendations
    - Staging and photographs
    - Open houses and private showings
    - Listing and marketing
    - Bid, sale, and closing paperwork

  9. Consider alternative financing
    If your mortgage approval falls through, you may still be able to get financing. Government-backed loans feature lower down payments and interest rates. They may approve you with a flawed work history or a few dings in your credit.

    - Federal Housing Authority
    - Fannie Mae
    - Freddie Mac
    - Veterans Administration

  10. Get comfortable with the process
    Buying a home isn't a very natural process. You open up your life to financial scrutiny. You troll your favorite neighborhoods for "For Sale" signs and trek through other people's homes. It can be a frustrating process, but when you end up with a home you love, it can be worth it.

If you're a first-time home buyer in Las Vegas, we can help. Contact Wardley Real Estate to find your Las Vegas dream home.

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