Tips Before You Buy

Considering buying a new home? Follow these guidelines to help this process go as smooth as possible.

  1. Do you know how much home you can afford?  Or is paying with cash a better option?

    Use this calculator to approximate your monthly payment. Keep in mind that your interest rate and payment will depend on your credit rating, income, current monthly expenses and down payment.  Also, it is a good idea to get “Pre-approved” from a licensed mortgage professional.

    Mortgage Calculator

  2. Start your home search.

    These are questions you may want to ask yourself when starting your new home search:

    • Where do you want to live? Is there a specific neighborhood or city that better suits your lifestyle?
    • What price range would you consider?  Is the area I want to live in my budget?
    • If you have children or planning to, is there a specific school zone that you desire? Is the bus stop close or would you prefer them to walk to school?
    • Do you prefer a newer home or are you looking for a “fixer-upper?
    • How much remodeling are willing to consider and can you afford?
    • Would you consider building?
    • How many bedrooms and baths are a necessary? Compared this what you would LIKE to have to what you NEED to have.  Make a list of the items that you MUST have and a list of the items that you would LIKE to have. This list might surprise you.
    • Are there any special physical needs that need to be met for yourself or family members?
  3. Shop for a loan.

    Shopping around for a home loan or mortgage to get the best financing deal. A mortgage—whether it’s a home purchase, a refinance, or a equity line of credit is a product, just like a car.  So some negotiating may be done with the rate or terms. Be sure to compare all the costs involve, comparing,and negotiating could save you a lot of money.

  4. Make your offer.

    This is the exciting part…  But be sure you’ve found your dream home or perfect investment and that you are serious. Once a seller accepts your offer you are contractually and legally bound by the contract..

    Talk with your Realtor about negotiating the price and other terms of the contract before making the final offer in writing.

  5. Accepted Offer.

    Once you have an accepted offer your Realtor will assist you with the inspections and setting up the closing.

  6. Close and move into your new home!

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