Skip To Content

Three smart and savvy tips for homebuyers

You Don’t Pay The Real Estate Agent’s Commission as the Buyer

Many first time buyers wonder, “do you have to pay a real estate agent if you are buying a home?” For some, there is no more water in the well, after they have been saving for as much down payment as possible. The simple truth is a home buyer does not pay their agent, rather the agent earns their commission from the seller side of the transaction.


Focus on Your Monthly Mortgage Payment, Not the Entire Thing

Getting pre-approved for a mortgage is generally the first step you should take as a first time buyer. The best question to ask is how much can you afford to pay each month. Simply because a bank or mortgage company approves for a $800,000 mortgage, does not mean this is the amount you should borrow. Take a look at your lifestyle and your current expenses to determine what you feel comfortable paying each month. Each change in interest rate affects your monthly payment and you mortgage advisor can help you with that information. Also know that there are special mortgage programs for first time home buyers such as low down payment option and down payment assistance.


Make the Jump!

From agonizing over the down payment to finding the “perfect” home, there are a ton of moments in the first time buying process that are going to make you feel nervous. Know that it is completely normal and most first time (and even second or third time homebuyers) feels that way. You are always going to wish you had more money in the bank, or that the home was just a little bigger so why not save some more money first. My advice: if you feel comfortable with the payment, love the location and “bones” of the house, then buy the home and don’t look back. Interest rates and home values are expected to rise. And remember, you can always upgrade your home down the road and hopefully have some equity/appreciation in this current home.


If you have any questions about buying a home or where to start looking, please contact Lydia Gable (DRE01704493), Lydia Gable Realty Group with Compass, 818.383.4335 or For mortgage questions and information please contact Laura Berg who is a Loan Consultant at 805.496.8444.

Trackback from your site.

Leave a Reply