Every home buying experience is different. Each has its own twists and turns. But there are general guidelines as to how the home buying process works. Keep these in mind before you buy a home.

Deciding to Be a Homeowner

Owning a home at some point in your life is a good decision. Mortgage payments help to increase the equity in your house, as opposed to rent checks. Plus, rent usually increases with inflation, while mortgage payments are generally more stable. But owning a home is also a long term decision, so there are several things you have to carefully consider in deciding whether you’re prepared to take the plunge.

Costs
There are lots of costs associated with buying a home. One of the first considerations to keep in mind is the physical aspects of the house you aspire to own. Maybe you already have a rough idea of the size of house you’ll need. With that in mind, decide how many bedrooms, bathrooms and other features you want. This will give you an idea of how much your house will cost, both in total price and monthly payment (including homeowners insurance). Don’t forget to factor in the money you’ll need for a down payment, closing costs

What’s your lifestyle?
A home isn’t just a house. It’s also a location and a lifestyle. You don’t want to make a decision that you’ll come to regret later. Another consideration to have in mind is how long you plan to be in the home or the area. If you have a more transient lifestyle, then you may want to postpone buying a home until you’re ready. Also, how ready are you for the responsibility of owning a home? Remember, you’re the one who will have to be in charge of its upkeep financially and otherwise

Motives
Buy a house because it’s the right decision for you at this point in your life. It’s easy to get pressured into buying because it’s the next step in being “grown” or because the market is right. But owning a home is a big commitment. Make sure you’re doing it because you really want to and it’s the right time. Don’t let other people make the decision for you.

The more preparation you make the better it is when you actually getting into the buying commitment. If you are moving to Tinker AFB or Oklahoma City or anywhere in Oklahoma I can help you with the process, please don’t hesitate to call or email me.

Spring is here and most of us are getting ready for spring clean up. Some of us may want to do a long awaited remodeling project for our house.  Avoiding scams when hiring a contractor. Here are few tips from the National Association Remodeling Industry.

 * Check references.  Look at photos of past projects to determine quality of service and products.

* Make sure the contractor has insurance.  Request a copy of the certificate or get the carrier's name and inquire directly yourself.

* Compare estimates.  Make sure they all cover the same scope of job.  Beware of the cheap estimates that fall far below the others. You may not receive the quality results that you're looking for.

Such projects require a certain level of trust as virtual strangers move in to take over a portion of your home for a period of two or three months.  Make sure you have a relationship with that contractor before you ever start.

Unless you have cash set aside to pay for it. Financing also plays an important part of your remodeling.  Make sure you do your homework carefully.  Take advantage of the presently low mortgage interest rate. You can refinance your mortgage with cash out to pay for it. Or you can also take out a home equity loan or line of credit.  Depending on your financial situations, and what is offering at your local financial institutions.

 Minor kitchens and bathrooms remodeling could recover up to 70 to 75% of costs depending the geographical areas in the country.

Are you a young professional who's recently landed a job in Oklahoma City or working for Federal Government at Tinker AFB, or active military personnel PCSing to Tinker AFB, OK, and are considering purchase of a house or condo-apartment close to your new work place?  If so, this could be an opportune time to snare a great deal on a place in Oklahoma City or nearby areas.

 Saving By Buying

Buying a home can seem costly when you consider down payment, closing costs, property taxes, and the cost of maintenance. Happily, the rewards of homeownership can significantly offset these perceived drawbacks.   As the years pass and depending on the market, you'll be gaining equity-the part of the home you actually own. This contributes to your future borrowing power, enabling you to secure a loan or obtain a line of credit, which makes homeownership a wise investment. You'll also enjoy tax benefits because any payments made toward the principal balance are tax deductible. And depending on the loan you choose, your monthly payments will remain steady, unlike renting where monthly payments can increase at an annual rate of 5% or more. A home of your own also means you can make it your own-paint, floors, hardware, etc.-without having to change it back before moving out.