10 Steps to Prepare for Schaumburg Home Ownership

Real Estate Agent with RE/MAX Suburban

schaumburg IL real estate,schaumburg homes,schaumburg homes for sale,Buying a new home in Schaumburg? Thinking it's time? Here's 10 Steps to Prepare for Schaumburg Home Ownership!

  • Find an experienced REALTOR®, (like me) who can help you through the process.
  • Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
  • Develop a wish list of what you would like your home to have. Then, prioritize the features on your list. Select three to four neighborhoods in which you would like to live.
  • Consider items such as schools, recreational facilities, area expansion plans and safety.  How long will it take to drive to work each day?
  • Determine if you have savings sufficient to cover your down payment and closing costs. Closing costs, including taxes, attorney's fees and transfer fees average between two and seven percent of the purchase price.
  • Get your credit in order. Obtain a copy of your credit report. Read through Lyn's article on how to 'Improve your Credit'.
  • Determine how large a mortgage for which you qualify. Also, explore different loan options and decide what is best for you. Get pre-qualified and pre-approved BEFORE you start your home search.
  • Organize all the documentation a lender will need to pre-approve you for a loan. This includes past income tax returns, recent pay stubs, etc.  Lyn's article on lender paperwork.
  • Do research to determine if you qualify for any special mortgage or down payment assistance programs.  
  • Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable. Lyn provides a 'Budget Worksheet' to get your finances in order BEFORE you start your home search!


Please contact me Lyn - I need help to find my new home!


Buyers Agents do what?

Closing Costs

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lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324

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Val Rensink
HomeSource Lamoreaux Group - Victorville, CA

Good Morning,

Nice review, I usually put pick a neighborhood first before you pick a house.  Do you serve Tinely Park(sp). I love the Museum of Science and Industry

Nov 29, 2007 02:21 AM #1
Steve Glose
Keller Williams Classic Group - Orlando, FL
TRC, CIPS, 407-616-7286, Orlando Real Estate, Orla
Nice top 10 list Lyn. I will share this with my team.
Nov 29, 2007 02:35 AM #2
Larry Wright
nwRealty.Com - Tacoma, WA
Great list Lyn.  This should help you working with first time buyers and those downsizing.
Nov 29, 2007 03:22 AM #3
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

Good list and great info.  Id more homes were ready  to sell right away the prices would be higher

Jun 23, 2012 12:54 AM #4
Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Great top ten list for buyer's they need to make sure they are educated and ready before deciding to purchase a home.

Jun 23, 2012 01:14 AM #5
Peg Barcelo
Fluff My House! Home Staging Inc. 250.486.6369 - Summerland, BC
The FlufftasticStager from Summerland, BC

Lyn, great list! So many things to consider and hidden costs that one might not think of if they haven't bought before!

Jun 27, 2012 12:55 AM #6
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lyn, the best choice is to choose you as a buyer's agent, and you will guide buyers through the process smoothly!   Great list for preparation!

Jun 30, 2012 12:17 PM #7
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Lyn Sims

Schaumburg IL Real Estate
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