Prescott Area Home Buyers FAQs
Buying a Prescott area home can both thrilling and a little nerve racking, especially if you're a first-time home buyer or new to the area. Experienced home buyers and first-time buyers alike will benefit from the frequently asked questions below. Before you begin your Prescott home search, we recommend that you learn as much as you can ahead of time. Knowledge is power, and the more you know, the less stressed you're likely to be through the process of buying a home.
Q - I've never purchased a home before. Where should I start?
Actually, you just did! Fact-finding and reading articles is a great way to become a smart consumer. The highest priorities to focus on before you begin searching for specific areas, neighborhoods, or homes would be to:
Step 1: Familiarize yourself with your personal finances and talk to a couple of lending professionals before you start shopping for homes.
Step 2: Learn about the Prescott area real estate market.
Step 3: Carefully review your budget and begin to eliminate as much debt as possible.
Step 4: Have a down payment and earnest money ready when the time comes to act and make your offer.
The next thing you can do is to contact us. Our agents are great at taking care of their clients, no matter if you're a newbie or an old pro. They'll walk you through the process and protect your interest along the way. For more experienced buyers, a little brush up on the real estate process never hurts, either. The market is changing every day, and our area is always growing and changing. Of course, you'll need a really sharp Prescott real estate team to protect your interests, too!
Q - How do I avoid making a big mistake when deciding which type of loan to select?
Once we meet we can talk about your finances and what you need in a home. If you did Step 1 above, you should have already talked with a couple of lenders. At this stage you'll want to chose one to work with. Chose a lender that you are comfortable with, that you have have confidence in, and who is with a reputable company you can trust. Ask as many questions as you feel you need to, and never (never ever ever!) sign any documents that you haven't read completely and are comfortable signing. Which type of loan is best for you depends on several factors like...
How much have you set aside for a down payment?
- How long do you plan to live in the home?
- Do you qualify for a FHA or VA loan?
Because more homes are on the market here in Prescott, there are plenty to chose from!
Let's Get Started!
Past this part and ready to get out to look at homes? Just contact us and we can look through your needs and budget to help you find the right Prescott home for you!