First Time Home Buying?
There is something permanent, and something extremely profound, in owning a home.
Are you ready? Home ownership is the cornerstone of a strong community but in order to be a satisfied homeowner, you need to ensure that you are financially and mentally prepared for the responsibilities that accompany this American dream.
What do you want? Do you want an ocean front view? Do you shudder at the thought of lawn care? Have you thought about condo life? Would obeying the rules about when you can have your garbage cans out bother you? Do you desire a state of the art amenities center? The answers to these questions can help you narrow down the search for the right type of property for you.
Are you ready to buy? It’s easy to underestimate the real cost of home ownership. Home maintenance and upkeep means understanding that part of your income and time will go towards repairs and maintenance. It’s being willing to take the risks of home ownership with a realistic expectation of the rewards.
How much can you afford? Realizing that your salary is about to go thru a transformation is key to the initial idea of owning a home. Sacrificing a large portion of your income just to pay the mortgage is life changing for some buyers so making sure you are financially prepared is crucial.
What is your debt-to-income ratio? Your first contact with a lender will be a summary of your debt to income ratio. Your overall debt should not be more than 40% of your income, and your housing debt should not be more than 32%. The difference in that percentage varies largely in where to want to live.
LET US HELP
You need a good agent that is willing to work for you and your best interest. Our Real Estate Professionals are dedicated to helping you find the right home, at the best price. We want you to live in the home that makes you happy. We work for you to find the home of your dreams that you can afford.
When visiting a home, you must always keep your objectives in mind. Being realistic by making check lists help you to avoid being overwhelmed. A great agent will assist you in going over the pros and cons of each home.
You should always engage the services of a good real estate lawyer. We are happy to recommend several that would be a good fit for you. A good real estate lawyer can charge several hundred dollars for their services, but by avoiding legal fees later on makes this a good expense.
Making the offer on a property can look like a maze until completion. United Real Estate Professionals are happy to prepare the paperwork and go through it line by line before submitting it. Remember, the seller may reject or counter your offer, so be prepared to negotiate. You will probably have to write a earnest money check (deposit) to the seller's broker that proves the seriousness of your offer.
Inspections and walkthroughs. A home inspector will check for signs of harmful materials like asbestos, lead paint and mold. They'll also check for evidence of pests, faulty wiring and leaks. This is a crucial part of the home purchase. Not getting an inspection done means that you could be stuck in a home with a bad case of black mold and no recourse other than to pay for its removal. Inspections will cost a few hundred dollars, but again, this is more than worth it in the end. We have a Resource Guide of Inspectors and other vendors that you may choose to use. A final walk through is a recheck to make certain that everything agreed upon is completed prior to the final signing. United Professional Real Estate Agents are happy to do this with you, ensuring that everything agreed upon is indeed completed prior to the final signing.
United Real Estate professionals promise to give real service, to add something that cannot be bought or measured with money, and that is integrity and sincerity. We want to be a part of getting you settled in the home of your dreams.
Contact us for more information about first time home purchasing.