Minnesota First Time Home Buyer Real Estate Blog

4 Reasons Why Fall is a Great Time For First Time Home Buyers to Make a Move

Buying a House During FallThinking about buying a home this fall? As previously mentioned, fall can be a great time to save money on the purchase of a new home, but the advantages to buying during the autumn season don’t just stop there. Here’s a closer look at what other reasons suggest fall is a great time for first time home buyers to make their move.

  • Less buyer competition

Spring and summer are when buyers are usually most active, which means you’ll likely be dealing with less competition after Labor Day. And although you may have fewer options to choose from, there’s something to be said for reducing the risk of a multiple offer situation.

  • Sellers are motivated

If a home has been on the market all spring and summer, chances are the seller is beyond ready to make a deal. This is what we in the business call leverage. Remember, the longer a home sits on the market, the more motivated sellers become.

  • The holidays are approaching

Almost every home seller wants to get their home sold and get settled into their new place before the busy holiday season arrives. This can also put you in the drivers seat during a negotiation, and we’re sure you’d love to be settled into your new place before all the holiday parties and festivities...

5 Tips For Choosing the Right Real Estate Agent

Choosing the Right Real Estate Agent We’ve all heard it before—buying a home is one of the biggest financial decisions you’ll make in your lifetime. Whether or not you agree is one thing, but at the very least it’s fair to say that buying a home is always a pretty big decision, regardless of whether you’re a first timer or a seasoned home buyer with plenty of experience.

Given the magnitude of whatever decision you inevitably make, aligning yourself with the right real estate agent along the way is also choice that shouldn't be taken lightly. But just how do you  know who might be the right fit? Believe it or not, finding the answer to that question tends to be easier than you might think. We explain below by identifying 5 crucial tips for picking a great real estate agent..

  • Research agent reviews

With everything online nowadays, chances are any quality agent will have lots of reviews and testimonials from past and present clients. From here you can gauge how often he or she has worked with first time home buyers and also what the experience was like for them.

  • Gauge the agent’s knowledge of the area you’re searching

It’s a real estate agent’s job to know the market, so ask questions about recent comparable properties that have sold or what other comparable properties are on the market that might also be a good fit. If your prospective agent has all the answers you’re looking...

4 Reasons First Time Home Buyers in Minnesota Should Consider a Condo

Buying a Condo As a First Time Home BuyerIt’s certainly no secret that buying a home for the first time will require you to make a number of big decisions, like where to buy, what type of home you want, and of course what sort of financing options to consider just to name a few.

While location and financing are of course critical components to any home search, the question of what to buy is also quite intriguing, especially for first-time buyers. In many ways, buying a house is truly the ultimate goal, but it’s important to note that condos can also be a great fit for any first time home buyer in Minnesota, and here’s why…

Lower Down Payment / Purchase Price

It shouldn’t be all that surprising that condos can be a more affordable option than a detached single-family home. As a result, this also means you won’t have to put quite as much money down, perhaps allowing you to buy sooner rather than later.

No Upkeep / Maintenance

While condos and other attached properties usually mean monthly or quarterly HOA fees, the trade-off is that you won’t have to worry about upkeep, on-going maintenance, or major exterior repairs. And along with saving you time, there’s also a level of comfort that goes along with the maintenance-free lifestyle that’s certainly appealing for a number of reasons.


Buying a home with a swimming pool or an extra exercise room...

When is the Best Time of Year to Find a Great Deal on a Home?

When should first time home buyers purchase a home?If you’re in the market for your first home, decisions like where to buy, what can you afford, and who to work with all need to be made sooner rather than later. But along with all that, deciding when the right time to buy is also an under-appreciated component to the home buying process that shouldn’t be overlooked.

As you might’ve already heard, common belief is that the best time to purchase a home is sometime during the spring or summer, when inventory tends to be at its strongest.

But believe it or not, the fall season can also be an optimal time to find and get a great deal, which might be surprising to some soon-to-be home buyers out there.

According to an analysis from RealtyTrac that considered 32 million home sales over 15 years, buyers, on average, paid 2.6 percent below estimated market value at the time for their homes. And while that may not seem like a big deal, 2.6 percent of a $200,000 or $300,000 home is literally thousands of dollars in savings.

So as you begin the to find that perfect new home, remember the fall season may just present you with the best deals out there.


How to Find out How Much Mortgage You Can Afford

How much mortgage can you afford? To answer this, you have to think of the three variables that loan officers look at: Income, debts, and credit score. Lenders look at income and debts to find your debt-to-income ratio. After this, they can decide what you may be able to pay. To find out more about this, watch my short video.