Whether you have spent years
saving and preparing to buy a home, or you still aren't sure if it is something
you can even dream of, the questions surrounding a first-time home purchase can
You can find the answers and peace of mind by working with us, one
of the industry leaders in experience and service.
Here are some tips to help you with the process of becoming your own
Prequalify for a loan
Being prequalified for a loan determines how much house you can afford. It also allows
you to move more swiftly when you find the right house, especially when you aren't the only
Shop for mortgage rates and terms
A difference of even half a percentage point can make a huge difference in how much you pay
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.
Using a buyer agent
A buyer agent is legally
responsible for representing the buyer's interest in a real estate transaction.
Generally, the buyer agent is compensated by the seller at the time you purchase
a new home. There are some limitations to using a buyer agent, however. Before
you decide, have a Realtor explain the advantages and disadvantages of using a
Features that help or hurt resale value
some areas, a swimming pool actually detracts from a home's value and makes the
home harder to sell. In neighborhoods with two-car, attached garages, a
single-car or detached garage may impact the home sale and future value. Your
Realtor can point out features that hurt, as well as those that help, resale
Rate the houses you tour
After touring each
home, write down what you liked and didn't like. Develop a rating system which
will help you narrow the field down to the house that's the best for you.