Home Buying Tips
You have found a property you like and want to make sure it is how you envisioned for your family. You have to get a jump start and do the necessary homework before making the big move and investing in it. Make sure you visit the neighborhood and street at different hours of the day to get a sense of the noise, traffic and security.
Crunch those numbers!
It can be very easy to lose sight of budget and affordability when you get caught up in home buying process. It is an exciting process; you can get carried away and splurge on new décor or paint. However that may affect your monthly expenses. It is imperative that you be organized and stick to a plan. If your budget is in order, you won’t have to compromise your current living standard or plans for the future.
Bonus Tip: Apart from mortgage payments and taxes, factor in the added costs of home purchase and ownership. Have a budget to spend around 1-3% of the cost for repairs and annual maintenance.
Get Pre-Approved before you start house-hunting!
Once you are pre-approved, you do not have to spend your time browsing through properties out of your budget limit. You will be qualified to make serious offers on properties you like. Pre-approval is an important step that needs to be down before you start your hunt for your new home. It is based on your income, debt and credit history.
You need a Home Inspector!
Your home inspector will point out the potential damages and flaws in your home that can decrease the sale opportunities. Do not be alarmed but make necessary repairs to avoid any red flags with the buyers and you will end up with a great closing price. It will also help you get pre-approved by the bank after a home appraisal. We employ experienced inspectors who provide a thorough analysis and point potential costs associated with the condition of a property you may be considering as an investment.