Buying a home is a big step! Whether it’s your first home, a vacation home or a rental property, every piece of the home buying process must fit together seamlessly for a successful purchase.
I am committed to making sure your purchase makes sense for you and your family. I want you to have all the facts regarding the property and the financial commitment involved in any purchase. I assist buyers in searching for and selecting a home while counseling them through the home buying process.
Home Buying Tips
- Hire an Inspector: Hiring an inspector before any home buying will cost a little bit of money but it can save your thousands. The inspector will look at the “bones” of the house and ensure everything is up to code and in working order. If they discover any problems, you can either negotiate the price lower or walk away from the house all together.
- Avoid Hidden Costs: Many people will only focus on the mortgage payment when home buying and may end up in financial problems once they realize there are hidden costs such as property taxes, homeowner-association dues, utilities and more. Make sure to budget for extra expenses and any necessary repairs.
- Examine the Neighborhood: Home buying is a big decision and life moment. Visit the neighborhood at different times of the day to see if there are any regular disruptions. Plan a commute in the morning to get a sense of the time it will take to get to work, or drop the kids off at school. You will hopefully be living in this home for a long time and you want to make sure you will enjoy the neighborhood.
For more tips and information you can read the following information from Ask.Raveis.com on how to start the home buying process. You can also contact me and I’d be more than happy to go through each step with you in person.
Advantages of Home Buying
Although the cost of home buying generally increases over the years, once you purchase a particular home, the bulk of your housing costs are not exposed to inflation — if you use a fixed-rate mortgage to finance the purchase.
Home Finance 101
Homeowner’s insurance is mandatory. When you purchase a home, your mortgage lender won’t allow you to close the purchase until you’ve demonstrated that you have proper homeowner’s insurance.
Preparing to Shop for a Home
Good neighborhoods, like beauty, are in the eyes of the beholder. For example, being near excellent schools is important if you have young children. Personal preferences aside, all good neighborhoods have the following characteristics.
Getting to Know Your Realtor
A good realtor can be the foundation of your real estate team. A good agent’s negotiating skills and knowledge of property values can save you thousands of dollars.
“Mark helped us find exactly what we wanted. And the process was seamless, from the moment we walked into the door of Mark’s office to the moment we walked into the door of our new house!”
How to Make a Good Offer
If you follow these basic negotiating guidelines, your deal will practically take care of itself. This explains why to conduct all negotiations face-to-face, why you must everything in writing, and why to make sure that deadlines are met.
Getting a Great Mortgage
Let’s start with the basics. A mortgage is nothing more than a loan that you obtain to close the gap between the cash you have for a down payment and the purchase price of the home that you’re buying.
Understanding Inspection & Insurance
A home’s physical condition greatly affects its value. You’d feel horrible if you paid top dollar for a home that you thought was in great shape and then discovered after you bought it that the house was riddled with expensive defects.
All About Closing
From an accounting standpoint, the most important piece of paper is the final closing statement that you get on the day that your property actually closes.
Feeling a squeeze in the budget when you buy a home is perfectly normal. After all, your housing expenses are probably higher than before. In addition to taking a lean-and-mean approach to the rest of your spending, here are some other suggestions.