A Few Great House Buying Tips

Reblogger Shawn and Angela Miller
Real Estate Agent with Berkshire Hathaway HomeServices Amabassador Real Estate #20090176 & #20090177
Original content by The Temple Team

 

  • Make sure your Credit is in order

Prior to your house hunting adventure, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.

  • Stay within your Realistic Price Range

The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. It's best to not be too strapped in case something crazy comes up (which always does!)

  • Try to have at least 20% for Down Payment

There are a variety of public and private lenders with a variety of options but most require at least 20% Down.

  • Choosing a Home in a GOOD School District is Important for Re-Sale and Value

Regardless of whether you have school aged children yourself or not, when it comes time to sell, you'll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.

  •  Get help from a Professional and Reputable Realtor

Look for an exclusive buyer agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process. 

  •  Choose wisely and carefully when shopping for a Home Loan

Rate vs. Points ... If you stay in the house for a long time -- say three to five years or more -- it's usually a better deal to take the points. The lower interest rate will save you more in the long run.

  •  Make sure to be "Pre-Approved" BEFORE House Shopping

Getting pre-approved will you save yourself the grief of looking at houses you can't afford and put you in a better position to make a serious offer when you do find the right house. 

  •  Be Educated and Informed and know your Market

Your opening bid should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. 

  •  Hire a Reputable Home Inspector

His or her job will be to point out potential problems that could require costly repairs down the road.

Are you LOOKING FOR THE HOME OF YOUR DREAMS?  Do you have a HOME TO SELL?  The Temple Team can help you with all of your Real Estate Needs.  Give us a call at 704-235-3000 and visit our webstie at www.TheTempleTeam.com.

 

As always, The Temple Team is ready and waiting to help you with all of your Real Estate Needs.

Contact us anytime at 704-235-3000 or visit our website at www.TheTempleTeam.com.

 

The Temple Team

www.TheTempleTeam.com

 

The Temple Team

 

 

Real estate expertise provided by Kent Temple on ActiveRain

 

 

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Rainmaker
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Paul Antonelli
Antonelli Realty - Saint Cloud, FL
Broker Owner; Antonelli Realty

Great information. Thank you for sharing. 

Mar 05, 2018 07:30 AM #1
Rainer
21,854
Andrea Moore
The Mortgage Market of Delaware - Lewes, DE

Great info, but I find that it's often intimidating to buyers to always hear they need 20% down. For first time homebuyers, that can be a really daunting task, and in some areas, that could mean over $80,000. Here in Delaware, almost the entire state is USDA eligible. And veterans can use their VA loan benefits for 100% financing. Plus, there's FHA, and there are some 3% and 5% down Conventional products.

Mar 06, 2018 06:15 AM #2
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Rainer
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Shawn and Angela Miller

Lincoln and Omaha, NE REALTORS®
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