TIPS FOR BUYING A HOME

TIPS ON HOW TO GET STARTED BUYING YOUR NEXT HOME.

Here are some questions to consider if you are ready to purchasing your home.

• How do you feel about committing to one home for a long period of time?  Usually 5 to 7 years or more?
• Is customizing your home important to you? 
• Do you have time and money for repairs are needed? 
• Is investing a home a long time financial plan of yours?
• Will tax benefits help you? (ask your tax advisor)

How to get started.

• Find a Real Estate Agent.
• Start searching homes online.
• Drive neighborhoods you are waiting to move too. 
• Pick up Real Estate Magazines.
• Start talking to friends and family members.
• What mortgage payment are you comfortable with?  Make sure you include property taxes, principal and interest, HOA fees, mortgage insurance premium, ect.
• Make a list of wants and needs in your next home. 

Once you have a Real Estate Agent or maybe before?

• Your Real Estate Agent might ask you to become pre-qualified or pre-approved for a home loan before they start showing you homes.  This will help to know the amount of money you qualify for and also what loan programs fits you best.   If you are not already working with a lender, ask your Real Estate Agent for a list of recommended Lenders.  

The difference between pre-qualified vs. pre-approved.

If you're prequalified it means that you POTENTIALLY could get a loan for the amount stated to you, assuming that all of the information given was accurate and true.  

If you're preapproved, it means that you have undergone the extensive financial background check - which includes looking at your credit history, previous tax returns and verifying your employment - and the lender is willing to give you a loan.  You're APPROVED!  So, they give you a letter that states such and it is valid for an approximately 60 days thereafter.

Next step is to start looking at homes within your price range and criteria.  Make sure you have your wants and needs list with you.  You may need to make changes as you go along.  Make sure you take your time to find the right house. 

This process will be stressful and please ask questions if you do not understand something.  Real Estate Agents are here to help you understand and know the process.  Please call me if you are interested in taking the steps to finding your dream home. 

GOOD LUCK!!!