Linscott Real Estate
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Tips for Buying a Home Buying a home is a very big step for everyone - especially if the home is your first one. There are many things to consider before actually going under contract on the home that is right for you. A few of the questions you have to ask yourself before making the decision to buy a home: - Do you plan on living in the area for the next three to four years? If the answer is yes, great! This may be a great time to consider buying a home. When you buy a home, you incur closing costs which are often financed as part of your mortgage. As long as the market continues to grow in value, you’ll recover those cost in two to three years. However, if you sell in a shorter time period you may not recover those expenses.
- Where is your financing coming from? What type of mortgage do you qualify for? There are hundreds of different programs out there to choose from. Make sure your lender has a great reputation and is getting the mortgage that is best for you! Some lenders "push" certain programs that are not always in your best interest. If you need a “GREAT” lender, I can refer you to one.
- Before you start looking to buy a home, get pre-qualified first! It’s very easy and doesn’t take much time to do this. Know your numbers before you shop!
- Meet with a few Realtors before you start looking. A good Realtor with local knowledge is so valuable! An average agent, a friend of the family that happens to have their license can help you find a home but the top agents in your marketplace will help you find a home, negotiate on your behalf, get you the best deal possible, take you through inspections, assist you in getting financing, finding you an insurance company, and walk you through the process all the way through closing. One of the most important aspects of using a great “Buyers Agent” is their knowledge of the area which will help you with checking out schools, providing you a list of professionals (Lawyer, Electrician, Plumber etc…) and many other details that come after the closing.
- What’s your wish list? What do you really “want” in a home, and what do you really “need.” Price, bedrooms, garage, neighborhood, size of home and many other factors need to be worked out before you get interested in a particular home.
- Where do you want to be? Which part of the city are you looking to live in, or, is the country what you want to consider?
- Making a decision. Many times buyers go into the home they really want but are reluctant to make that final decision. If you have your “wish list” and are working with a great agent, your decision should be a lot easier. Don’t be hesitant if this home is “the one.” Work with your agent to find out values in the neighborhood to see whether or not this home is priced right and will maintain it’s value over time. If most of your wishes are fulfilled, this may be your new home!
Buying a home can be one of the most important things you do in life. It may be a very smooth process or it could get pretty bumpy along the way. Do your homework and find out what you like. Surround yourself with the best people to work with. Have fun with the process and enjoy the ride!
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