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So many questions about buying a home?
Whether you can afford it or not?, Buying a home can be a little frustrating sometimes, especially for first time home buyers.
Peace of mind is what ABSOLUTE REALTY can offer to you. Becase our goal is to make your dream a reality.
Here are 10 basic steps to help you become a homeowner.
- Hire an Absolute Realty real estate professional.
Selecting a real estate professional to help your home buying process
is a very important step in buying your dream home. Working with
Absolute Realty professionals is worth your time because he or she is
legally responsible for representing the buyer’s interest in a real
estate transactions. We will guide you throughout the process.
- Shop for mortgage terms and rates.
Know before you leap. Second most important step in home buying is the
mortgage terms and rates. You want to get the lowest interest rate 9
(of course!) and the terms that best suits your financials. A
difference of half a percentage point can make a lot of difference over
the life of a loan. For example, the difference in the monthly payment
on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per
month. Over 30 years, that's $12,600 that you can put in your savings
or spend on family vacation.
- Prequalify for a loan.
You know your financials, and you know the rates. Now, the third step
in your home buying process is to get prequalified for a mortgage loan.
This will help you determine the price range of the house you will be
looking for.
- Write down the specifications of the house you want.
After you get prequalified. It is important that you make a list of
the specifications of your dream home. What features of a home are most
important to you? Make two lists: 1. Features of a home you have to
have. 2. Features of a home that you can consider not having. Refine
the lists as you do house-hunt. Put a check mark on every feature that
is on your list on every home you look at. While at home at night, it
is also helpful to search the web to see what is currently available
on the market. And tell your real estate professional the house you
want to look at. Your real estate professional can then show you the
houses that you found online.
- Visit Properties.
This is the exciting
part of the process. Now you’re ready to visit the houses that meets
your expectations. An ABSOLUTE REALTY Professional will arrange
property showings at your most convenient time. Be sure to bring your
specification list and keep track of the properties you’ve personally
seen (make notes). Each time you visit more properties, re-evaluate
your notes to immediately eliminate the property that clearly do not
meet your standards.
- Know the features that help or hurt resale.
Knowing the features of a house that can help or hurt resale is very
importante also, just in case you will decide to sell the property in
the future. Like for example: In some areas, a swimming pool can
actually affect the value of a home and makes it harder to sell. In
neighborhoods with two-car, attached garages, a single-car or detached
garage may affect the home buying prospects and future value. Your
ABSOLUTE REALTY professional will help you in this decision making
process.
- Make an offer.
After looking at all the houses you think you would be interested in.
Rate each house base on your list and notes. Pick the house you want.
Once you made a final decision and pick which house you want, you are
ready to make an offer. Because you (the buyer) and the seller have
different goals, let your ABSOLUTE REALTY professional take care of
this sensitive step of your home buying process. Their experience and
expertise will help both parties reach a favorable outcome.
- Arrange for a home inspection.
Congratulations! your offer has been accepted. It is necessary to have
your dream home inspected before you pay and move in. Set up a home
inspection. It's common to find problems, like cracked walls, roof
leak, bugs, insect infestations and foundation problems. You have the
right to choose a reputable inspector or your real estate professional
can help you find a reputable house inspector. If you negotiate repairs
as part of the purchase, ask for a "walk through" before finalizing the
home buying paperwork. Ask your real estate expert about home
protection plans, which may save you money in the near future.
- Closing.
One more step and you will be a homeowner. Before your closing date,
make sure you’ve made all necessary deposits and completed the
paperwork – including mortgage, title, homeowner's insurance and any
other paperwork required by local and/or state in home buying. Your
ABSOLUTE REALTY professional will be with you all throughout this step
to help you complete the closing checklist and avoid any last-minute
problem.
- MOVE IN!.
CONGRATULATIONS!! YOU ARE NOW A HOMEOWNER. Before rolling out your
welcome mat and house warming party, consider typical moving basics:
arrange for an alarm set up (for the safety of your family), turning on
electricity, water, cleaning or replacing the carpet, and notifying
your local post office of your new address. The best time for few
renovations is recommended before you move in. ENJOY ON YOUR NEW HOME.
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