HOME BUYING TIPS
Buying a home is an important decision that can make an enormous difference in your lifestyle. It is also the biggest financial transaction you make make. It involves a long-term committment financially and emotionally. It can also be a very exciting time and a rewarding experience!
Here are a few things you should consider when you decide to purchase a home:
How much can I afford each month in a payment?
How do I go about getting a mortgage loan?
How much down payment do I need?
How much cash do I need at closing?
How do I go about finding one?
What do I do after I find a home I like?
How will my Realtor® assist me in the process?
Before you begin your search here are some practical considerations. (This is a good time to find an agent to assist you)
Get Pre-Qualified: Unless you can pay cash you will need to go through the process of applying for a mortgage. Consider not only the amount of the loan the lender will allow, but also what you feel comfortable spending each month. Take an honest look at your budget.
Make an Amenities List: Decide what features are most important to you in a home. Be realistic! There are no perfect homes. Decide what is important to you, and make sure you find a home that has the features you require. Be prepared to compromise on some of the items on your wish list.
Begin Your Search: Your agent will help you search for homes that best fit your criteria in your price range established by your lender. Additional things to consider when searching for a home are the cost of upkeep and utilities, maintenance or repairs, cost of any updates, school district, taxes, home in city limits or with acreage. Purchase a home that you are prepared to keep for a while. Most people nowadays buy more than one home in their lifetime. The average turnaround time is seven years. Buy a home that you can afford today. Start to build equity, and then you can trade up or down as your life events may change.
Make an Offer: Once you have found the perfect home for you, it’s time to prepare an offer. Your Realtor® can provide guidance to you. There will be many other items to include in the terms of the Purchase Offer including offer price, earnest money, seller concessions, home inspections contingencies, financing contingencies, closing date, etc. Don’t be surprised if your offer is not accepted. Your Realtor® will represent you in all contract negotiations until an agreement is reached.
Closing the Trasaction: This phase focuses on the final details of the purchase of the home including: Home Inspection, Loan Approval, Final Walkthrough and finally the Closing! Upon signing the documents and funding, you are a new home owner...Congratulations!
Let’s get started! One of our professional Real Estate Agents are ready to go to work for you! Our agents will be Advocates for YOU throughout the home-buying process. We provide detailed listing information not available to the general public. We will negotiate the deal to save you money. We will guide you through the avalanche of paperwork and commit our time and energy to finding you the right home.
Your decision to buy a home is both a sound financial decision and a commendable achievement. As your real estate agent . . .