There are some important steps to finding and buying a home. Working with The Real Estate One Family of Companies, I can make your experience easier. Use our tools to make your search easier and follow these steps toward homeownership.
for the week of July 6th
Ten Tips for First-Time Homebuyers
- Be picky, but don’t be unrealistic. There is no perfect home.
- Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.
- Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs.
- Don’t wait to get a loan. Talk to a lender and get pre-qualified for a mortgage before you start looking.
- Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
- Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?
- Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that suit you best.
- Don’t let yourself become “house poor.” If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.
- Insist on a home inspection and, if possible, get a warranty from the seller to cover defects within one year.
- Get help. Consider hiring me, Jerry Renning, as your buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you, the buyer. And often, buyer’s reps are paid out of the seller’s commission payment.
Step One: Loan pre-approval.
The biggest advantage buyers have when negotiating a home purchase is loan pre-approval. To learn about the benefits of pre-approval before you make an offer, please contact me.
Step Two: Know what is available.
Real Estate One’s HomeMatch service lets you choose the home features that are important to you. As your agent, I watch the market and contact you when homes become available. This is one of the most efficient ways to keep ahead of the market. To get started, please click here.
Step Three: Use all the tools.
Browse available listings, properties with Virtual Tours, and open houses. With the Real Estate One Family of Companies and my website, you have access to more virtual tours than any broker in Michigan. Another option is to phone Infoline at 888-736-LIST to hear detailed information on properties by providing an infoline property code found on yard signs and in various newspaper ads.
Step Four: Secure your mortgage.
Once you have found your home, your pre-approval will speed the process of completing your financing and quickly getting you into your new home. To learn more, please contact me.
Step Five: Take it easy!
Take the easy route to moving by letting me help plan your move. In addition to moving services, I can help with all the resources you need to make your home purchasing and ownership experience a great one. For more information, please contact me.