In another addition of “Living Akamai,” Kay Mukaigawa joins us in the green room to talk about first time home buyers.

We asked Kay if she has any advice for first time home buyers. Kay says, “Absolutely…like anything life changing, you need to prepare and be ready. How you approach this can mean the difference in someone buying a property at an early age or much later in life. It takes time and commitment and you will create a wish list with your realtor and learn more about prioritIzing and balancing important things like a second parking stall, washer/dryer in the unit and which buildings allow for pets. But, before you even begin, you need to understand your buying power and this starts with knowing more about your financing and your credit score.”

Kay continues, “These days some employers may even opt to pull your credit report to determine your level of responsibility. It’s vital to understand your credit rating and learn what “not to do” to ensure your credit remains favorable. A high credit score can actually equate to a lower mortgage payment. Buyers should get qualified and determine how much they can afford and actually start making that payment by saving it every month. Develop the habit of making that mortgage payment in advance and this way they can determine if they need to adjust their spending habits in advance. If you are looking to pay $2500/month when finding your new home, pay that amount today and tuck it away. Within 6 months, you’ll have an extra $15,000 that you can apply to your down payment or use for furniture and this way you don’t get into large credit card debt the moment they move into their new home . If first time home buyers can develop good habits, they will find home ownership so much easier to transition into.”

Kay also emphasized the importance of understanding concepts such as “reserved housing, shared equity, and shared appreciation.”

To learn more about these and other topics related to purchasing a home as a first time home buyer, or a seasoned real estate veteran, give Engel and Volkers a call at 808-725-2000. Or, visit them online at