Quick Tips For A Successful House Hunt

Create your buying criteria carefully and try to keep to it. If you are hunting with your partner, a good place to start is discussing your absolute necessaries and deal breakers together so you will keep those front and center during the home search.

Location, location, location. Before touring every house in town, it’s ideal to narrow down your options. Figure out and decide which neighborhoods work most ideally for you and your family. School districts, public transportation, recreational activities, shopping and dining, and local statistics are just a few of the parameters to consider.

Apart from the house, you are also buying into a specific neighborhood too. Ask yourself important questions like, “Is this a safe neighborhood?” You can speak with current residents and ask questions. If you spend time in the area, you’ll have a better understanding of whether or not it provides the conveniences you’ll need.

I recommend limiting your house viewings per day. If you see too many, you could possibly start feeling confused or overwhelmed. It’s important to remember which house has certain attributes. Overdoing it in a single day can become difficult to keep track of in your mind.

Staying within your price range is important, so remember to consider additional expenses such as HOA fees, maintenance costs, and taxes.

Renting versus Buying

I’m sure by now you’ve heard that mortgage rates are at record lows and they have been for months. Housing prices are still relatively low. The key to seeing a return on your investment in ANYTHING is to buy low and ride the wave on up. The cost of borrowing money right now makes home ownership cheaper than renting in many cases. What do you think happens if everyone continues to rent because they are afraid to buy??? Rents continue to skyrocket. Investors know this, that’s why they are buying everything they can now, so they can rent it to you at an inflated rate later. BUY NOW! I don’t care if you walk, run, or take a hot air balloon to our office. Just do it now!

As rents continue to skyrocket, investors continue to buy everything they can now so they can rent it out at an inflated rate later. It is still an incredible time to purchase a home as housing prices are still relatively low. The ROI on a home purchase by way of borrowing is still better than renting in many cases. It’s possible to enjoy watching your home purchase appreciate as you ride the wave up.

Preparation Steps To Buying A Home This Year

First thing one should focus on, if needed, is cleaning up credit. Pull your credit report, and evaluate whether there’s anything that might become a hindrance during the buying process. Any late payments? Judgements? Call the creditors and work with them. Credit Worthiness is the key to getting a good mortgage rate.

One of the first things mortgage companies will look at is your last two or three tax returns, so make sure you are filing.

Finally, save as much as possible. It may also be time to sit down with a mortgage professional to try and get preapproved. With this part completed, you’ll know beforehand what your purchasing power is. Even if you are not preapproved, you’ll be able to determine why and begin the process of cleaning up your credit profile.

Many aspects of the home buying process can require specific knowledge. The more you know, the better off you will be when it comes time to sign the paperwork. offering the guidance, information and assistance that only a qualified real estate professional can provide. And because we stay on top of all the latest real estate laws and regulations, you can rest assured that you are always getting the expert advice and service you deserve. We can also help you team up with a proven financial expert to put the best loan package together for you.

These are just a few quick tips, but many aspects of the home buying process can require specific knowledge. The more you know, the better off you will be when it comes time to sign the paperwork. If you’re interested in learning more on the opportunities in today’s market, contact me today. I take great pride in offering the guidance, information and assistance that only a qualified real estate professional can provide you. I stay on top of things by keeping up to date with the latest real estate trends, laws, and market listings, so you can rest assured I will be able to offer top-notch service.