Pat O'Reilly Coppell Realtor.10 Strong Suggestions when buying a house!!!

Need a great Real estate agent and Realtor in Coppell. Pat O'Reilly....Go with an agent that knows the area, lives in the area and will SERVE you. Are you tired of being talked down too?? Are you tired of being treated like a number...pressured into things you do not want to do..getting vague answesr. Don't you deserve the best??? Don't you deserve GREAT SERVICE??

10 STRONG Suggestions when buying a house!!

1. Make sure you will be there for at least 3 years
If you think, or know, that you will not be staying in that house for more than a year or two, buying a house is a waste of time. Buying and selling a house costs money, and in the end, you will probably lose money. There are real estate commissions and closing cost involved. These will need to be paid. Buying a house is best for those who will in place for a while, giving time for the house value to improve.

2. Fix up your credit score
For most people, buying a house requires getting a mortgage. Getting a mortgage requires having a good credit score. Prior to buying a house, review your credit report and be sure that all is correct. If you find any mistakes, have these sorted out before trying to get a mortgage. Do not buy large ticket items while you are trying to buy a home.

3. Look for something affordable
Buy a house costs equal to 2.5 times your yearly salary. Keep in mind; this is just a general rule. There are other factors you must consider, and this is just a rule of thumb. There are plenty of online calculators to give you a very precise idea of your costs.

4. Even if you cannot put a 20% down (which is standard), do not worry
Many lenders, both private and public, have mortgage plans that require a very small down payment (as low as 3.5 percent of the houses price sometimes).

5. Look for a home in an area with good schools
If you have children, this will be very important for their future. Even if you do not have children, living in area with good schools is important; reason being that it greatly increases the value of the home. This will benefit you when it comes time to sell again.

6. Receive help from an expert
Do not try to do it on your own. Have a good agent. That's where I come in!!! Even though people think they can do the whole process themselves, this is usually not true. An agent will make the job ten times easier on you.

7. Know the difference between rate and points
For those choosing a mortgage, they often have the choice of paying a part of the interest which is usually paid at closing, at the beginning. This will allow for them to have a lower interest rate. For those staying in a house for a long time (3 or more years), the points option is usually best, as it will save you money over time.

8. Get pre-approved
Getting pre-approved will make the house searching process much easier. You will know what you can afford and what you can't afford. Pre-approval is not the same as pre-qualification. Being pre-approved has to do with your income, debt, & credit history.

9. Research before making an offer
Look at the trend of sales in the neighborhood before making an offer on a home. If houses in the area selling for 7% less than their listing price, you should start off by bidding around 11% lower than the listed price. This is just an example. Your agent can give you a better idea of what a reasonable bid is for your situation.

10. Have a home inspector visit the house
Many people often forget to do this, and in the long run, find themselves having to spend a lot of money on house problems which were caused by the previous occupants. A home inspector will check for any problems that may require you to pay to repair in the long run, and usually a compromise will be made before you move in. Don't ever purchase a home without a home inspection!!