Your First Home Purchase...How YOU Can Take Control!

home for sale, first time home buyers, mortgage broker, real estate agent
11/14/2013

How can YOU be the boss of yourself and your first home purchase?

  • Make sure you go over your personal budget and know the maximum amount that you can afford to spend on housing.
  • You will need to build your own team of advisors that will work with you such as a real estate professional, a mortgage expert, a financial planner, and a tax advisor.
  • Know what your own vision is for your life after you buy your home by researching neighborhoods, cities, and school systems that can impact your life.
  • Research the home buying process and ask your real estate professional questions so that you truly understand today’s market, like list price-to-sale price. 
  • Make sure you are looking at homes priced below your top price range so that you can afford some wiggle room.
  • When working with your real estate professional make sure you have target recent home’s comparable sales.
  • Make sure you are working with your real estate agent and your mortgage broker together so you understand the cash you’ll need for closing based on your final offer price.
  • Do attend your home inspections, read seller and HOA disclosures, read all the inspection reports and get follow-up inspections as needed.
  • Get bids for repairs and upgrades before you remove contingencies
  • Ask your mortgage broker for your loan documents in advance and read them in advance before closing.  Make sure you ask questions and you understand the answers.  If you still are not clear, ask again.
  • If inspections or appraisals reveal any serious issues within you contingency period, back out of the transaction and recoup your earnest money deposit.

When following these steps, you will feel more confident in your home buying experience.  For more information please visit www.debyoungrealtor.com.

 

 

 

 

 

 

 

Tags: financial planner, first home purchases, HOA disclosure, home inspection, mortgage broker, neighborhood, personal budge, schools