Home Buyer Tips and Tricks

Finding the home of your dreams isn't always an easy task. I've compiled a list of home buyer tips and tricks that I've personally learned and used when looking for your next home./

-          Financial Planning: Put together a financial plan to determine whether or not you can actually afford a new home to buy. Just because it’s a good time to buy in the market doesn't mean it’s a good time for you to buy. Understand how much home you can afford.

-          Down Payments: When determining a down payment for a new home, be sure to save at least 20 percent in either cash or cash equivalent accounts.

-          Rent vs. Buy: Sometimes renting is more ideal than buying depending on the financial situation you are in. Use this great “rent vs. buy” calculator: http://tinyurl.com/aghre2h

-          Be informed: Don’t just buy a home because there’s a pretty picture online. Conduct a price search and talk to people in the neighborhood for “on the ground” intelligence.

-          Credit Reporting: Get a copy of your credit report. Correct any errors before you start the home buying process.

-          Mortgage Pre-Approval: Get pre-approved for a mortgage. Ask friends and family for referrals from brokers and shop around with banks and credit unions.

-          Appraisals: Get an appraisal to determine market value of the property and determine the amount of your loan. (Be sure to request a copy for your records.)

-          Schedule a home inspection: This is one of the most important steps for buying a new home. Don’t freak out if there’s a problem that arises during the inspection. This often can be fixed or addressed with a simple adjustment in price.

-          What’s your offer? Start with a fair offer, based on similar houses sold in the neighborhood in the past six months. The offer should include the price you’re willing to pay for the house.

-          Review your HUD statement before closing: This government document provides basic details for both parties and a lot of numbers. Mistakes occur, so review the statement and confirm that everything is correct.

Finally, find the right agent to help you find the home of your dreams. It’s difficult to go through the home buying process alone, so be sure to pick an agent that is honest, has 

experience, connections with other agents, and referrals from buyers like you.

Choose your local Real Estate Expert to help you find your next home.

Your Local Agent,