Are you dreaming of moving to Anna Maria Island? If so, you’ve come to the right place! But before you dive headfirst into this paradise, it’s important to have a plan. Our first-time homebuyers checklist is your guide to the transition from mainland to island living.
Anna Maria Island Real Estate Market Watch
As of September 2023, it took a median of 51 days to sell a home in Holmes Beach. However, it is important to remember real estate trends are always changing. Contact Anna Maria Life for help buying and selling homes on Anna Maria Island.
8 Things to Include in Your AMI First-Time Homebuyers Checklist
1. Find a Local Real Estate Expert
Having a local real estate expert by your side can make your AMI homebuying journey smoother. They can help you find a property that fits your needs and budget. An agent can also assist with negotiations. Beyond that, they can provide valuable advice about moving to the island.
2. Determine Your Budget
Before looking at houses, take some time to assess your finances. Consider your monthly income, savings, debt-to-income ratio, and credit score.
3. Secure Mortgage Preapproval
Once you have a budget, it’s time to get pre-approved for a mortgage. This will give you an idea of how much you can afford to borrow and what your interest rate will be. It also shows sellers and real estate agents that you’re a serious buyer.
4. Start Exploring Your Ideal Neighborhood
Anna Maria Island boasts incredible neighborhoods, each with its own unique charm. You have Anna Maria with that old Florida vibe. Holmes Beach offers a bit of the hustle and bustle. Bradenton Beach has a charming mix of old and new.
5. Organize Your Documents
Before you make an offer on a house, gather all the financial documents you’ll need. This includes your ID, income records, proof of down payment, tax returns, and bank statements. Having everything ready will make the process go faster and smoother.
6. Craft a Thoughtful Offer
Once you find the perfect home, it’s time to make an offer. Work with your real estate agent to come up with a fair offer. You may also want to include terms in your offer, such as repair requests or upgrades, depending on the home’s condition.
7. Appraisal and Inspection
Before you buy the home, it will need to be appraised and inspected. An appraisal will determine the home’s value, ensuring you don’t overpay. The inspection will give you a closer look at the home’s condition, which could reveal hidden problems.
8. Get Ready for Closing
Once your home passes the inspection and appraisal, you’re ready to close the deal. Your lender will send you a closing disclosure, and you’ll schedule a closing meeting. At the closing, you’ll sign the necessary paperwork for your mortgage. You’ll also take possession of the property.
Ready to begin your new life on Anna Maria Island?
Moving to AMI can be a dream come true, but you shouldn’t rush into things. This checklist will help you have success when buying your first home on Anna Maria Island.
Ask Billi!
For anything and everything on Anna Maria Island, reach out to me by clicking here. I can get you where you want to be with buying, selling, or vacation rentals. We are experts in the local market for vacation home rentals. Please call for all your real estate needs!
Thanks for visiting!
