10 Ways to prepare for HOMEOWNERSHIP
I don't think we are aware of how many individuals are out there that don't know what to do to get started to BUY a home. I think that Donna makes a great list for people to do to prepare for Home-ownership. Be sure and stop by her blog and leave a comment.
I, personally had 3 of my 5 recent Buyers ask me, "What should I do now that I called you? Should I be approved first?"
I am here to HELP! I give them a list of what occurs once we find a home... Preparing home-buyers one at a time...
10 Ways to prepare for HOMEOWNERSHIP:
1. Decide what you can afford: Generally,you can afford a home equal in value to between two and three times your gross income.
2. Develop your home wish list. Then, prioritize the features on your list.
3. Select where you want to live: Compile a list of three of four neighborhoods you'd like to live in, taking into account items such as schools, recreational facilities, area expansion plans. and safety.
4. Start saving Do you have enough money saved to qualify for a mortgage and cover the down payment? Ideally,you should have 20 percent to the purchase price saved as a down payment. Also, don't forget to factor in closing costs. Closing costs-including taxes,attorney's fee,and transfer fees-average between 2 to 7 percent of the home price.
5. Get your credit in order: Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and late payments.
6. Determine your mortgage qualifications: How large of mortgage do you quality for? Also,explore different loan options-such as 30 year or 15 year- fixed mortgages or ARMs- and decide what's best for your.
7 Get Pre-approved: Organize all the documentation a lender will need to pre-approve you for a loan.
8. Weigh other sources of help with a down payment: Do you qualify for any special mortgage or down payment assistance programs?
9. Calculate the costs of homeownership: this should include property taxes,insurance, maintenance and utilities. if needed.
10 Contact a REALTOR : Who can guide you through the process of buying that home.
When your ready to buy your home, I can help you along each step and make your experience awesome. Just give me a call or email me.
Donna Paul is a Realtor that works for Keller Williams Realty- Greater Nassau on Long Island that serves the Suffolk County Area:Dix Hills, Melville, Deer Park, Huntington Area- she is an expert in the geographic areas of homes for sale and what's happening around the neighborhood so if your thinking of buying or selling a home and your in need of a LI/New York Realtor just give call her at 516 343 0728 or email her at dpaul@kw.com.
As a Short Sale agent, she can help you walk through the process sucessfully-If your having difficultly paying your mortgage contact Donna Paul at 516 343 0728
Take a look at the homes that are on the Market: www.discoverlongislandhomes.com , Search Long Island Homes Long island/ Queens homes
Donna Paul- Your Long Island Realtor
Keller Williams Realty516 343 0728
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