Are You Ready For Home Ownership?
Owning a home is an American dream, but in order for the purchase to be the happy and satisfying experience it was meant to be, you need to ensure that you are financially and mentally prepared for the responsibilities that come with it.
Questions for Prospective Homeowners to Consider
Are you ready to buy?
Owning your own home is about more than just being able to customize the home any way you like; it’s about being prepared to care for your home over the years, realizing that part of your income and time will go towards repairs and maintenance. It’s about being willing to take the risks of home ownership with a realistic expectation of the rewards.
How much can you afford?
It can be upsetting to find that your salary won’t go as far as the home you want to own. It’s better to buy a modest home now and look at purchasing your “dream home” in a few years. Your home is an investment in addition to a place to live.
What is your debt-to-income ratio?
This is a guiding principle for mortgage lenders. There are several different types of mortgage loans, all with their own ratios and underlying qualifications. It is my job to help you determine which program would be right for you, and to get you connected to the right lender.
What do you want?
Do you cringe at the thought of lawn care? Would obeying rules about when you can have your garbage cans out bother you, or do you want to live in a neighborhood where everything is ‘just so’? The answers to these questions can help you narrow down the search for the right type of property for you. My search options take out a lot of the guess work, limiting the amount of time we have to search for your home and finding your that home faster.
We Can Help
You need a good agent who will work hard for you. I am dedicated to helping you find the right home, at the best price. It’s my goal to find you the home that will make you happy and successful as a home owner.
When you hire me to help you buy your first home (free of charge), I want to know what you want and how much you can afford. Then I’ll find a way to combine these two priorities and find a home you’ll take pride in owning.
Make the offer. This can be a maze of “buyer”, “seller”, “chattels”, “deposit”, and “completion”. I’m happy to prepare the paperwork and go through it with you before submitting it. Remember, the seller may reject or counter your offer, so avoid setting your heart on the home you hope to own. It’s my job to make sure you understand about earnest money and option fees as well.
Get all necessary inspections done. 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. There are several inspectors in the area that I’m happy to recommend.
Do a final walkthrough before closing the deal. I’m thrilled to do this with you to make sure that everything agreed upon is completed prior to the final signing.
From the first interview that determines your requirements to the moment that you receive the keys, I can help you with the complicated process of buying a home. Don’t hesitate to contact me to find out more about how I make the home buying process easier!
Contact me for more information about first time home purchasing.