First-time homebuyers take the plunge
Many first-time homebuyers would agree that making the decision to purchase a home is one of the most important decisions of their lives. While this decision is so important, there are so many unknowns that come with the home buying process. It’s important to do your research and hear other people’s stories and experiences when buying their first home. Here are some of the perspectives and stories of a few of Sherry's first-time homebuyers!
First-time homebuyer Joe Schartz started his home buying process in the summer of 2019. In August of that year, Joe turned 25 and then purchased his home in Hartford that October. Like most, he had rented in the past. While completing his undergraduate degree at South Dakota State University, he rented in Brookings. He then moved to Washington, DC, for graduate school. “It’s a very expensive city, and my mortgage payment today is close to what I paid for a 1-bedroom in a Georgetown townhouse!”
After years of renting, he was ready to buy his first home. “At the end of the day, it made more financial sense to invest in a home than to sink thousands into an apartment that doesn’t build equity.” It’s important to invest in your future.
There are many unknowns when it comes to the home buying process. One unknown that surprised Joe the most was the variety of expenses. “The down payment isn’t the only expense you have when you’re buying a home. There are also fees that go into closing…mortgage rates, lending options and insurance.” All these things can be very intimidating, but having the right people to help you will make the process a lot less stressful! Finding the right lender and a good Realtor can make all the difference.
Advice from an experienced homebuyer can be some of the most valuable information you can receive during your home buying process. Joe stated his biggest piece of advice to first-time homebuyers is, “Your first home can be a great investment opportunity.” Joe, like many other buyers, looked for a house with potential that would increase in value over time. Searching for houses that have opportunities to add improvements will help the resale value in the future. “Choose a home that both makes you happy and becomes more valuable over time,” said Joe. “Invest in your future and your happiness.”
The Hoppers, David and Tiffany, started their home buying process in September of 2018. With that in mind, they knew they would not be purchasing a home right away, but wanted to meet with Sherry to collaborate and get her opinions on their situation. While they weren’t “actively looking,” the couple wanted to make sure any opportunities weren’t missed. “We also wanted to let her know what we were looking for; that way if the perfect home did come up, we’d still take the time to check it out!” They started looking more seriously at homes in March of 2019.
Tiffany was 24 and David was 31 when they purchased their first home. They had of course rented in the past. While Tiffany was in graduate school at USD, the couple rented an apartment in Vermillion. Prior to that, David had been renting his entire adult life. Tiffany said, “My husband was ‘sick of throwing money away.' He was very excited to buy a house!” After years of renting in various cities, the Hoppers were ready to purchase their first home!
“Being first-time home buyers, I’d honestly say just about everything was unknown…what we did know, is that we wanted Sherry to be our Realtor!” Things like loans, market fluctuations and what to look for in terms of the condition of a home were some of the things that were unknown to the Hoppers. As their Realtor, Sherry was able to set the couple up with the necessary people to answer all the questions and concerns they had. Anything that was unknown, they figured it out together.
In almost anything we do in life, there are things we wish we had known beforehand. When purchasing their first home, there was one thing the Hoppers wished they had known. “I wish that I had known how fast houses sell when the market is hot. It didn’t take me long to realize that if I liked the listing, that I needed to reach out,” said Tiffany. There had been a few homes in which the couple “dragged their feet,” and before they knew it, the house was off the market.
While sometimes we may feel like our questions and concerns are invalid, you will never regret putting your pride to the side and asking questions. In an instance such as purchasing your first home, there is no such thing as “too many” questions. Tiffany said, “I cannot tell you how many times I called or texted Sherry with questions that would come to me randomly.” Having a Realtor who is knowledgeable and always available to take questions will take many of the stresses and unknowns out of the home buying process.
When asked their thoughts about their Realtor, Sherry, they all expressed their appreciation. Tiffany said Sherry “went above and beyond to ensure that we had all our questions answered…and she always provided a smiling face and encouraging words for us.” Overall, making their home buying process as stress-free as possible! Sherry’s connection with the Hoppers and Joe really stood out. Joe stated, “She taught me English and journalism for four years in high school, so it’s pretty special that she helped me find my first home.”
Sherry’s responsiveness and attentiveness made the difference in their home buying process!