First Time Home Buyer Guide in St Louis, Moissouri
a guide for first time home buyer
St Louis, MO
featuring guidance from Heather Lewis
WELCOME TO ST LOUIS
St Louis is the largest city in Missouri. It is a home for eight Fortune 500 companies. St Louis is known for it’s diverse economical strength in service, manufacturing, trade, transportation, and tourism industries. The midwest modesty and business driven atmosphere makes it a great place for families and professionals to settle in.
VALUABLE GUIDANCE FOR HOME BUYERS
Trends in the St Louis Estate Market
Sellers are NOT able to price at the top of the market anymore; this has initiated price reductions and longer days on market (dom). Buyers may not be aware that their approved price point may have changed drastically with the increase in intrest rates affecting their monthly mortgage payments.
Sellers are NOT able to price at the top of the market anymore; this has initiated price reductions and longer days on market (dom). Buyers may not be aware that their approved price point may have changed drastically with the increase in intrest rates affecting their monthly mortgage payments.
Tips for First Time Home Buyers in St Louis
Understand the land; your Realtor should be checking to see how close a potentail property is to a 100 or 500 year flood plain, rail road tracks, sink holes, schools, and/or comercial businesses.
Don’t rush! Buying a home is a big decision and should not be taken lightly. Finding a real estate agent that is willing to listen to your needs and wants and has the patience to get you there in the amount of time you need; it is okay if you are not in a hurry and really do look at homes for 6-24 months. My clients are advised on whether or not the timing is right for them and the price point will be a good return on investment down the road. I want to be able to get my buyers out if life changes and I want them to have some extra cash for the next move.
St Louis is known for it’s unique neighborhoods; some offer amazing Italian cuisine, art and culture, public and private schools with focus on special needs like high IQ and/or diversity, art, culture, college prep or religion. Knowing that each community has it’s own vibe and potential is important when moving to St Louis, and oh, by the way, “where did you go to High School?” is a St Louis thing.
Understand the land; your Realtor should be checking to see how close a potentail property is to a 100 or 500 year flood plain, rail road tracks, sink holes, schools, and/or comercial businesses.
Understanding your closing costs and costs to purchase before writing your first contract; meeting with a licensed professional and understanding your upfront costs (such as earnest money and inspections) and closing costs (such as 1 year home owners insurance, taxes, and title service fees) associated with the purchase of your 1st home.
Don’t rush! Buying a home is a big decision and should not be taken lightly. Finding a real estate agent that is willing to listen to your needs and wants and has the patience to get you there in the amount of time you need; it is okay if you are not in a hurry and really do look at homes for 6-24 months. My clients are advised on whether or not the timing is right for them and the price point will be a good return on investment down the road. I want to be able to get my buyers out if life changes and I want them to have some extra cash for the next move.
Find a Realtor that is honest, knowledgeable in the area you are considering, has been licensed long enough and has closed enough transactions to give you solid advice. It’s ok to decide to go a different direction if you don’t get a good vibe from the agent you start working with. Just don’t wait too long and hope it gets better; this is your biggest asset and know that the person you choose to represent you in this endeavor is qualified and really working on your behalf, if not find another one!
St Louis is known for it’s unique neighborhoods; some offer amazing Italian cuisine, art and culture, public and private schools with focus on special needs like high IQ and/or diversity, art, culture, college prep or religion. Knowing that each community has it’s own vibe and potential is important when moving to St Louis, and oh, by the way, “where did you go to High School?” is a St Louis thing.
Understanding your closing costs and costs to purchase before writing your first contract; meeting with a licensed professional and understanding your upfront costs (such as earnest money and inspections) and closing costs (such as 1 year home owners insurance, taxes, and title service fees) associated with the purchase of your 1st home.
Find a Realtor that is honest, knowledgeable in the area you are considering, has been licensed long enough and has closed enough transactions to give you solid advice. It’s ok to decide to go a different direction if you don’t get a good vibe from the agent you start working with. Just don’t wait too long and hope it gets better; this is your biggest asset and know that the person you choose to represent you in this endeavor is qualified and really working on your behalf, if not find another one!
