Home ownership is in reach more than ever before.
The current buyer's market is presenting more opportunities than we have seen even 3 years ago.
The smart buyer is taking advantage of the market and will reap the benefits of the smart move a few years down the road.
The "Do's and Don'ts" of making the right choice in Home Ownership.
- Hire a Professional Licensed Real-estate agent to open the door of Home Ownership.
- Create a Personal Budget.
- Get pre-qualified for a mortgage before starting the search.
- Pay off as much debt as possible without using the money set aside for your down payment.
- Check your credit report to determine if there are any discrepancies.
- Attend a home buyer's school.
- Create a Home or Condo Wish List. This will help the buyer focus on their true needs. Plus, a wish list will help the agent understand your wants and needs. Keep in mind how many years you will plan on living in the home.
- Stay within your financial means. You don't want to be married to a mortgage.
- Use a Walk Through Check List while touring properties. This will help you organize your search and eliminate un-needed return trips to refresh your memory of what each home included.
- Leave your children with a sitter, this will help you to concentrate on this very important decision you will be making.
- Utilize a Rating System to make the right choice for you and your family.
- Use a certified and licensed home inspector.
- Professional Advice: Because a real-estate purchase can be a complex and confusing transaction, it is a good idea to seek legal, environmental, tax and other professional advice while researching the buying, purchase, mortgage and closing process.
Don't:
- Borrow anything other then your mortgage during the home buying process.
- Add to the credit card balance.
- Approach this important decision purely on emotions. Emotional buying can lead to the wrong choice.
- Forget to let your friends and family know your new address that you will be calling Home.
Happy Home Hunting!
Animations courtesy of www.92ee.com
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