It wasn’t till recently, after more than 10 years in the business, that Chad Rogers, a real estate veteran who starred in the first three seasons of the Bravo reality hit “Million Dollar Listing” reality TV star, purchased his first home – a Beverly Hills condo. With his expert knowledge and recent personal experience, he’s loaded with advice for first-time homebuyers.
It’s important to plan ahead when buying a home. Look at school districts, security, the distances to the market and dry cleaner, demographics and more. “Location is everything, no matter who you are,” Rogers says.
Buyers also should consider if they plan on moving in the future. “A first-time homebuyer should make sure their home is not too custom or specific,” says Rogers, as it limits interested future buyers and makes it more difficult to sell.
Don’t Get Too Attached
Just because you set your heart on a particular home, it doesn’t mean the purchase is going to work out. “[Buyers] need to take the emotion out of the equation because when you get caught up emotionally, that’s when you make bad decisions,” Rogers says. Get insight from people not directly involved in the transaction to help think everything through, he says.
‘Inspect, Inspect, Inspect’
If a property sticks out for possible purchase, the homebuyer should take a more intricate look at the property for potential problems that may not be visible on the surface. “I like to have a geological inspector, a mold inspector and a chimney inspector,” Roger says. “Then you start to realize exactly what you’re buying.”
Stay in Budget
Don’t let the adrenaline rush of buying a home create a blind eye on budget. “Buy a home that’s priced according to what you can afford,” Rogers says. When making a down payment on a home, put down as much as possible, up to 30 percent, if possible.