Are you ready
to buy a home? And tips for home shopping.
NOW IS THE TIME
Why pay rent when you can own? Some rents
are higher than a mortgage payment and you aren’t building equity. Traditionally
your home is a type of savings account; it is the single biggest investment you
will make.
When you get ready to start looking
at homes get a Realtor you have a good fit with. Your Realtor should understand
that you are looking for a home… not house, but a home, a place you can nest within
and call your own.
2) Get Pre-approved.
Know what you can comfortably spend.
Get pre-approved for a mortgage and figure your payment out on your net pay… your
take home pay, not your gross pay. This is what you have in your pocket; it is
the actual take-home amount you have to live on. Think practically and with
common-sense. Usually approvals are done on gross pay, but translate that into your
net pay. Know what you can reasonably spend.
3) You hear about various types of
funding and payment: cash or mortgages; which is better?
Let me share with you; money is
money, and a closing is a closing. You know your needs and this is about you
working comfortably within those needs. In the end money is transferred and the
keys are turned over to the buyer. How you fund your home is up to you.
4) Look at houses to find a home.
If you don’t like something when you
pull up to it… that says a lot, because you'll be going home there each
day. Trust your feelings. You know what you like, and you know what you want. Finding a home is an
organic process and you will know it when you see it and then walk into it.
5) Is this the one… is this your home?
When you think of the criteria for a
home you have to think about your needs. Not so much your wants… you can adjust
those. But what is it you actually need. If you have younger children, do you
need to consider school districts? Does the commute to work matter? How close to your neighbors do you want to
be?
Does the layout of the house fit how
you and your family flow and live?
Do you get that feeling when you
walk into it?
6) Making the offer.
This is your process. My part of the
process is to represent you. If you are a buyer, it is to submit your offer, whatever that may be. Think about what you
have to spend, and what you are willing to spend. How badly do you want this
home and what does that mean to you? When you make your offer think about your
bottom line… the rest is up to the seller. They will simply take the offer,
counter the offer, or refuse the offer. It is all a process and any starting
point is a starting point. So, just begin the process.
Make sure you figure out your
contingencies like: the home inspection, the closing date, and any other things
you need to take into consideration. GET insurance and plan ahead.
This is YOUR process and it should
be an easy and enjoyable one.
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