Apple Valley First Time Home Buyers Tips

Are you planning to buy your first home in Apple Valley, Minnesota? There are some simple things that I would like to share with you about Apple Valley real estate to help ensure you avoid some of the bigger mistakes that many first time buyers make. With some very basic preparation you can avoid some painful pitfalls.

Community Information: Apple Valley, MN

The city of Apple Valley, Minnesota was recently named as one of the top 20 best places to live in America.in the top twenty of best places to live in America. With over 49,000 residents, the city has more than doubled in size over the last 30 years. Situated entirely in Dakota County, Apple Valley first time home buyers should learn more about the Dakota County first time buyer program With an extensive Park and Rec department in the city you'll always have something to do in Apple Valley. If you're planning on buying or selling Apple Valley real estate please feel free to give me a call!

1) Get prequalified for your first time home buyers loan first! I have met far too many first time buyers who find a home first, only to find out they do not yet qualify for financing. It can be an extraordinarily painful experience to go through the work of searching for the perfect home only to find out you are not yet ready to qualify for a loan. You can get preapproved with my preferred MN mortgage lender right over the phone. There is no cost for the service and absolutley no obligation so why not start the process of preapproval immediately?

2) Get educated about the process of buying a home. You can learn a great deal at a first time home buyer seminar or at a Home Stretch Worshop available through many communities around the Twin Cities. There is so much to know about the process that it is well worth it to learn as much as you can, as early as you can.

3) Get a home inspection on the house you buy. While a home inspection is not required it can reveal major potential problems in the house before you are fully committed to the purchase. You can negotiate a transaction with a contingency upon a satisfactory home inspection so that if it comes back bad, you can back out of the transaction. Some first time buyers will skip buying the house inspection because of the cost involved. I think the cost of the inspection is a great value when compared to making a purchase of a home with so many problems that it becomes a money pit.

4) Please take care of your credit after mortgage preapproval. After you have received your preapproval for mortgage financing your Minnesota mortgage company still might need to check your credit again. Make your payments on time and do not open up any new credit. Additionally, avoid additional credit inquiries after your preapproval to avoid a reduction to your credit score.

5) Be choosey when shopping for home insurance. If you were to call 3 different homeowner's insurance companies you will get 3 quotes that could vary by as much as double! Right after your loan application start your search for insurance estimates.

First Step In The Process

For many Minnesota first time home buyers the big question is where do I start? Your first step to home ownership is to get preapproved for a mortgage. In so doing you will find out how much you are qualified for so that we can research homes in a price range with comfortable payments for you.



Robert Phyle,CSP,GRI,RSA
Broker Associate, Realtor
Coldwell Banker Burnet
rlphyle@cbburnet.com
Cell 612-801-4657
Direct 952-997-1955
Fax 952-432-8372
7741 147th St W.
Apple Valley, MN 55124
www.facebook.com/robphylerealestate
Visit my website to find Minnesota homes for sale