a guide for first time home buyer
Palm Beach, fl
featuring guidance from Breien Fernandez
WELCOME TO PALM BEACH
Broward and Palm Beach Counties are in southeastern Florida and part of the South Florida metropolitan area. Broward is just north of Miami-Dade and Palm Beach is north of Broward. Broward has an area of 1,320 square miles and a population of 2 million, while Palm Beach has an area of 2,380 square miles and a population of 1.5 million. Both counties have beautiful beaches, cultural attractions, and diverse economies with tourism, healthcare, technology, and finance industries.
VALUABLE GUIDANCE FOR HOME BUYERS
Trends in the Palm Beach Real Estate Market
Florida’s desirable weather and beaches have made it a popular destination to move to, especially during the COVID-19 pandemic. While there are more homes on the market, prices are slowly increasing. The median sale price for homes in Florida went up by 9.6% from 2021-2022. Mortgage rates are coming down and people are still interested in investing and buying homes. Homeownership remains a top priority for many consumers.
Florida’s desirable weather and beaches have made it a popular destination to move to, especially during the COVID-19 pandemic. While there are more homes on the market, prices are slowly increasing. The median sale price for homes in Florida went up by 9.6% from 2021-2022. Mortgage rates are coming down and people are still interested in investing and buying homes. Homeownership remains a top priority for many consumers.
Tips for First Time Home Buyers in Palm Beach
Make sure you have good credit. Also, do not open any new lines of credit before or during your home buying process.
Create a list of what you must have in a home (i.e., how many bedrooms, bathrooms, neighborhood). Also, list things you would like to have in a home but willingly negotiate if the home doesn’t have them.
Make sure to get pre-approved before you even begin to start the home buying process. It’s extremely important to know how much you can afford to spend on a home. This will also help strengthen your offer, because sellers will know you can afford to buy their home.
Make sure you have good credit. Also, do not open any new lines of credit before or during your home buying process.
Stick to your budget. Do not go over your budget just because you think you found your dream home. It is not worth it in the end. Budgets are created for a reason and going over budget can greatly impact your finances.
Create a list of what you must have in a home (i.e., how many bedrooms, bathrooms, neighborhood). Also, list things you would like to have in a home but willingly negotiate if the home doesn’t have them.
Start saving early. You need to be prepared to put down a down payment, pay closing costs, and pay moving expenses.
Make sure to get pre-approved before you even begin to start the home buying process. It’s extremely important to know how much you can afford to spend on a home. This will also help strengthen your offer, because sellers will know you can afford to buy their home.
Stick to your budget. Do not go over your budget just because you think you found your dream home. It is not worth it in the end. Budgets are created for a reason and going over budget can greatly impact your finances.
Start saving early. You need to be prepared to put down a down payment, pay closing costs, and pay moving expenses.
