Buying a home can be a tedious process, if you have never bought one trust me you will have a long journey to make before you settle everything. That is why most of the buyers are advised to use a
10 Things To Consider Before Buying A House
Don’t Buy If You’re Not Staying Long-Term You need to commit to staying in your house for a few years (up to 10 years). So if you think you’re going to accept a job out of state, move for a new graduate school, or you are just not sure you like the area, it is probably best you don’t buy. Selling too soon can cause significant losses.
Review Your Credit First Poor credit means higher interest rates when buying a house. Clean up your credit reports and get your score as high as possible before you buy. You can get a copy of your credit report or talk to your loan officer to see where you should improve for a better rate.
Buying a Home in Your Price Range is Key It doesn’t matter how much the bank qualifies you for, you need to know you can actually afford the house. Just because you’re approved for $1200 per month doesn’t mean you can actually afford that. Review your own budget and stick to a payment that you can comfortably afford.
You Don’t Have to Have a Down Payment Not all banks require a 10 percent down payment. If you’re applying for a VA loan, you won’t have to put down anything and FHA requires three to five percent. Look at all of your options to see how much of a down payment you really need, but don’t assume you must have 10 percent to buy.
Consider the Schools You might not have kids right now, but if you’re staying in your house for the next few years, you might. Consider the schools in the area and see where your kids will go. Even if you don’t plan on having kids, areas with top-performing schools are higher in demand, which means when you go to sell you will have negotiating power.
Hire a Real Estate Agent Buying a house is a big deal -- and one you shouldn’t do without a professional. Real estate agents are your personal negotiators and can help you sift through the listings to find your perfect home.
Get Pre-Approved Pre-approval helps you know how much you can afford and whether or not you’ll be approved. There is nothing more frustrating than finding your dream home only to realize the bank has no intention of letting you buy it.
Hire an Inspector It is your responsibility to hire a home inspector and you should. These individuals can make sure you’re buying a home that doesn’t have any pre-existing issues and will help with the appraisal process.
Bid Reasonably When Buying a House Don’t present a ridiculously low offer to the seller. Too low of a bid turns away the seller and destroys your negotiating power. Be reasonable and have your realtor compare market values of similar homes in the area.
Whether it is your first home or the home you plan to retire in, I will be there to ease the process every step of the way! I find great pleasure in helping people achieve their goals in real estate a....
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