Home ownership is great in many ways but may become a financial burden on a family that simply cannot take upon the financial responsibilities that come along with a home purchase. Sit down and jot down your expenditures and income and take into consideration a mortgage and its associated costs and figure out if its fathomable to make a purchase so you don’t become financially crippled at the end of it all.
Depending on your financial position you are either going to meet with a mortgage lender or a broker to discuss financing and affordability options. Mortgages terms and interests rates will be disclosed and explained accordingly to ensure that you are aware of what is expected of you to successfully get a mortgage once you find your home.
Now that you have a clear picture of your finances and mortgage options, the exciting part is here; venturing out and finding the right home! The challenging part is distinguishing between needs and wants. The future is just as imperative as the present, so when choosing a home; choose one that will meet your needs today and well into the future.
As they say, teamwork makes the dream work. Find yourself a realtor that will be devoted to you exclusively. Hunting for the home of your dreams is no easy task, so find yourself a partner in crime to have your dream come true.
Distinguish your needs and wants. This can be very challenging but it is vital information that must be gathered prior to looking for a home.
Picking the right agent can be a challenging process. Choose an agent that makes home hunting entertaining and stress free. Have your agent work for you exclusively and one that takes pride in delivering top notch customer service. The purchase of a home can be an enjoyable experience with the right team and support in place.
As technology grows so does the way we do things. The internet allows us to view properties right in the comfort of our own homes. This can be misleading as pictures do not paint the entire picture. Have the right agent take you to these properties in person so both parties are able to physically see the property in person. Effective researching tactics prior to visits can be a powerful tool as this may save you money and more importantly time.
Now that you believe you’ve found the right home for you and your family; make an offer to reveal your interest in the property. This process will be taken care of by your designated agent as they will prepare and draft the Agreement of Purchase and Sale. This is a legally binding document which contains information on the property such as the price you are prepared to pay and the terms and conditions that must be abided by for the deal to process through.
Once your offer is accepted, visit your lender or broker to verify and finalize details of your mortgage. This entire process will require you to be in constant contact with your lender and lawyers to ensure everything is going smooth. Costs will be disclosed and you will need to be prepared to provide information upon request and of course, money from you.
Purchasing a home may seem like an easy process on the outside, but unless you go swimming on your own; you will remain unaware of the dangers and pitfalls you may encounter. Have a reputable agent to represent you, one that thinks from a clients prospective. You want to avoid mistakes regardless of whether you are purchasing a home to live in or simply using it as an investment. Have me represent you and your interests today.