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| Photo: http://tinyurl.com/buynewhouse |
As you made your 2016 New Year’s Resolutions or Goal List,
did you include buying a new home? If so, here are three important things to
keep in mind to help you through the process:
1. Know Your Financial Numbers: Before you start the process of
realistically looking for a new home, you need to know what you can afford
based on your current income. One of the
first steps you should take is to meet with a Loan Officer and get
pre-approval. Once you get pre-approval,
this will give you an idea of what your monthly payments could be – can you
realistically afford the top of your budget with your income today? Do you need
to look at the lower or middle end of your pre-approved amount? Don’t forget, you
also need to take into account other costs of owning a home - such as home
owner’s insurance each month, private mortgage insurance, HOA fees (if
applicable), etc. It’s important to not
base your decision on “future income” as we all know too well that things can
quickly change.
2. Assess Your Needs & Don’t Forget Your Wants: How many
bedrooms do you need or want? How many bathrooms? What is the minimum/maximum
size house you want? What features do you want in the house? Make a list and
star the items that are must-haves. As you look for a house, this list can be
your guide – if it doesn’t meet your must-have criteria, don’t take the time to
go and see it.
3. Work with a Professional. Take the time to hire a Realtor to
help you through the process. Not only can a Realtor help you search for a home,
but can also schedule appointments to see homes. Once you have found a home to
buy, your Realtor can assist you in negotiating the entire purchase process,
including making an offer, getting a loan, and completing all the paperwork. Your Realtor is there to provide expertise
and help protect you during the process. The best part is, in the majority of
cases, the Seller pays all of the Realtor costs. (Note: It’s a good idea to ask
your potential Realtor if he/she charges any Buyer fees.)
If you are planning to buy a new home in 2016, let me put my
expertise to work for you! We don’t charge any Buyer fees and will work to find
the home that meets your must-have criteria. Call us today 801-645-6735.
