When I look back on buying my first home, I distinctly remember how complex, rewarding and emotional the entire experience was from start to finish. I’ve been traveling a lot over the summer and everywhere I go, I speak with many first time home buyers and they are filled to the brim with many questions. Are prices going to fall lower? Will I get qualified for a loan? And the added fear and scrutiny of the country’s current economic conditions are rightfully making first- time home buyers more nervous than ever.
We surveyed our network earlier this year and found that 29 percent of our agents and brokers said first-time home buyers’ number one concern is whether they are buying at the right time. And although low prices and high inventory are making it one of the best times to purchase a home in much of the country, another 24 percent said they are most concerned about finding a home they can afford.
We wanted to simplify the process for all of these first-time homebuyers and essentially create a “one-stop-shop” with tools and advice to help them make the move into homeownership. That’s why we’ve launched the First-Time Home Buyers Resource Center. The new section features numerous resources including a mortgage calculator, affordability radar that breaks down monthly payments, videos about selecting a home, moving and even redecorating, as well as articles outlining everything you should know from home inspections to closing costs.
At Coldwell Banker, we pride ourselves on innovation. Sometimes that means developing the first and fastest iPhone app, and other times it is simply offering basic information and resources in one convenient location to help people take that first step to homeownership. However complex buying a home may be, it is sometimes the simplest idea that meets an unmet need. For our first-time home buyers today, we’re proud to do just that.
For those of you currently in the home buying process, or are planning to jump into it in the near or distant future, we wish you the very best. Let us know what you think about the new Resource Center. We hope it helps!