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Tips for First Time Home Buyers

Being a first-time home buyer is tough. In addition to difficult language that’s sometimes hard to decipher, taking a deep dive into your finances that, in a way, can feel very invasive, and a fluctuating market that ebbs and flows depending on various factors, things can get complicated. If you’re thinking about starting the search to find your first home, browse all of our Tips for First-Time Home Buyers below and start the search off on the right foot!
Improve your Financial Literacy
Buying a home is likely the biggest and most significant financial decision that you will ever make. Though, initially, it can be scary to know you’re tacking on a good amount of debt, the benefits that accompany homeownership are overwhelmingly advantageous. For a first-time buyer, we recommend sharpening your financial literacy in order to best understand the home buying process. Know that there are resources available in the form of classes, webinars, online forums, etc. that will help guide and educate you that will make the choice to pursue homeownership feel less daunting and more like the smart decision that it is! Our agents are well versed in their financial literacy and are always happy to provide you with any and all resources should you wish to strengthen your financial literacy to prep for buying a home.
Get in Touch with a Realtor ASAP
We cannot stress this enough. Working with a Realtor as early as possible is the best way to set yourself up for success. Though we always advocate for our Story House agents, Charlottesville is blessed with talented and hardworking agents who are dedicated to helping all clients find their dream homes. Our agents at Story House will attest to the saying, “it’s never too early to get in touch with us.” Even if you’re a few years out from looking for a home and just want to see where you stand, or you have a short timeline and are looking for something quickly, we would love to help. At Story House, our clients are for life, meaning that before, during, and years and years (and years) after the transaction is complete, we will continue to check in, answer any questions you may have, keep you updated on your homes value, and always be there for any and all real estate needs. Working with Story House means that we hope to delight and surprise you throughout the entirety of our relationship, which, of course, we hope lasts forever.
Work with a Lender Early on 
The earlier, the better! Picture this: you decide you want to buy a home. The first thing you do is plug (what you believe to be) your ideal budget into Zillow and Realtor.com and fawn over all the beautiful houses that you see. Then, after working with a lender, they tell you that your budget is significantly less than what you’ve been browsing online. We don’t want this to happen to you. We want you to fall in love with homes that are only within your price range in order to avoid any heartbreak. We are here for you and know that we can find you a place to call home that checks all of your boxes while also honoring your budget and financial situation. Our agents will get you in touch with a lender who will assess your finances and determine what you can afford.
Time to Save!
Most people know that when you go to buy a house, you will most likely be required to pay a down payment. While lots of online resources will tell you that 20% is the standard, there are programs available today with options as low as 3-5% down to buy a home. No matter if it’s in your plan to save 3% or 20%, we recommend getting a head start by saving early and often. Consider tightening your budget and finding areas where you are able to eliminate some spending. As with most things in the home buying process, the earlier, the better. The sooner you start saving, the easier it will be to account for items associated with the buying process including, but not limited to, the down payment, any inspections, HOA fees, mortgage insurance, and any other general closing costs.
We hope these tips are helpful! We know the process can feel intimidating, which is why we’re by your side every step of the way to help alleviate any anxiety and answer any questions. For more Tips for First-Time Homebuyers, browse the entire First-Time Home Buyers category on our website. Get even more tips and advice by reading our “Where Do I Start?” blog, and educate yourself on these Common Home Buying Myths to stay in the know for when you’re ready to buy.

Posted on July 15, 2022

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    Aug 13

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    🌟 "Ann went above and beyond in her responses and communication." Thank you so much Tracy for trusting the Story House team to help sell your home!

👏 Big shoutout to Ann for all her hard work! Communication is key, and Ann and the entire listing team strive to keep you up to date through frequent updates and constant communication. 

Let our team give you the attention YOU deserve by being by your side every step of the way. Give us a call if we can help sell your home (434) 260-1435 📲.

#StoryHouseRE #StoryHouseRealEstate #StoryHouseTestimonial #realestate #realtor #realestateagent #realtorlife #dreamhome #realestatelife  #charlottesville #cville #charlottesvilleva #storyhouse #storyhousere #storyhouserealestate #startyourstory #soldbystoryhouse #yournextchapter
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    Aug 12

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    Your daily reminder to enter our teacher giveaway if you haven't already! Check out the video above to see some of the items that you or your favorite teacher could win in our 2022 Teacher Giveaway. 

Have you entered yet? Follow us, like this post, and tag a teacher you know in the comments below! 

p.s. Turn your volume up to rock out with us! 🔊 🎸🤘 

#TeacherGiveaway2022 #ThisLocalLove #StoryHouseRE #StoryHouseRealEstate #BackToSchool #Charlottesville #TeacherGiveaway #Albemarle #Fluvanna #CentralVirginia #greenecounty
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    Aug 12

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    Happy weekend everyone! As we make plans to celebrate the end of the week, we're also taking a pause and reflecting on the events that occurred 5 years ago here in Charlottesville. Our hearts go out to the victims and the community as a whole as this anniversary serves as a reminder of the work we must do to heal the deep wounds of our community.

As we research, attend events, and reflect on the 2017 events, remember to take care of your mental health amid the painful memories as they arise. We will continue to care for one another as we work to heal, learn, and grow to make Charlottesville a safe place, for everyone. ❤️ 

#StoryHouseRealEstate #storyhousere #localevents #weekend #Charlottesville #cvillelove #thislocallove #Charlottesvilleevents
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    Aug 11

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    JUST LISTED | FOUR NEW HOMES 🎈 

🏠 32 Out of Bounds Road, Palmyra, Virginia 22963 | MLS #633544 | $400,000 | 🛏️ 3 bed 🛁  2 bath | 🎉 OPEN HOUSE Sunday, August 14th from 12 PM - 2 PM, hosted by Virgil!

🏠 12 Bunker Boulevard, Palmyra, Virginia 22963 | MLS #633545 | $350,000 | 🛏️ 3 bed 🛁  3 bath | 🎉 OPEN HOUSE Sunday, August 14th from 12 PM - 2 PM, hosted by Zoya!

🏠 127 Goldenrod Court, Charlottesville, Virginia 22902 | MLS #633524 | $550,000 | 🛏️ 4 bed 🛁  2 1/2 bath | 🎉 OPEN HOUSE Sunday, August 14th from 2 PM - 4 PM, hosted by Jess! 

🏠 1800 Jefferson Park Avenue, Unit #15, Charlottesville, Virginia 22903 | MLS #633521 | $225,000 | 🛏️ 2 bed 🛁  1 bath | 🎉 OPEN HOUSE Sunday, August 14th from 11 AM - 1 PM, hosted by Kristin!

📩 Email showings@storyhouseRE.com with questions! Showings begin by appointment on Friday, August 12th.

#justlisted #Charlottesvillerealestate #StoryHouseRealEstate #StoryHouseRE #startyournextstory #Charlottesville #startyourstorywithus #newlisting
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    Aug 11

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    🏡 Have you been considering homeownership but aren't sure whether or not you’re ready to start the journey? We've got you covered!

In our latest Sincerely, Story House 💌 blog, we provide you with 5 Signs You're Ready to Own a Home to help you determine whether or not homeownership may be the next best step for you!

Click the link in our bio to read more! 

#StoryHouseRE #StoryHouseRealEstate #MovingtoCharlottesville #CharlottesvilleRealtor #SincerelyStoryHouse #Charlottesville #localRealtor #SincerelyStoryHouseBlog
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    STORY HOUSE REAL ESTATE
    2110 Ivy Road
    Charlottesville, VA 22903
    Phone: (434) 260-1435
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