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Homebuying and Technology for Todays Consumer
Homebuyers today are doing more to educate themselves on the market. With the assistance of technology and online tools at their disposal, handling more of the home buying task themselves is a significant advantage. However, the process is still very complicated, especially for the first-time homebuyer.
There are key areas where technology can benefit the home buyer or seller. Just be sure to assess practical considerations such as; interest rates and the market condition is this an excellent time to buy? (although, its always the right time to purchase a home!), what financing options are available, and which options are best. The major areas where due diligence, technology, and information can help home buyers become more informed on the process and secure the best deal on their transaction.
Finding a Home
Many sites are available for consumers to search home listings, and this is golden for the home buyer! Websites such as Realtor.com and HAR.com (in the Houston area) are updated in real-time and offer the most accurate information. Consumers have an opportunity to custom tailor their search options and target a specific zip code, community, or school district they desire, plus many other options. In addition, you can do your research on pricing options, future neighborhood value dynamics, and schedule showing appointments.
Be careful with sites such as Trulia, Zillow, and others, as their listings may not be up-to-date, and you will spend a lot of time inquiring on properties that sold. But, again, a licensed real estate agent could be of service with this.
While it is true that consumers have some great tools to help facilitate the transaction, there are still some technical and legal aspects that a licensed real estate agent will be able to help navigate.
Finding Financing Options
The home-buying transaction is one of the most significant single financial transactions in a persons life. Being knowledgeable about the process will save the homebuyer from a confusing event. Do your due diligence to find out how much home you can afford. It also helps to know your credit situation and score, considerations such as; are you a veteran & the options available, are you a public servant (teacher, police officer, firefighter) financing proposals may be available. There are many types of loans FHA, conventional, 30 years fixed, 15 years fixed, and more.
Bankrate.com is a great place to start. They offer information on various types of loans, mortgage rate trend analysis, mortgage lender reviews, and a mortgage calculator to help you figure your monthly payment.
A licensed real estate agent can help save tons of time by explaining the mortgage process and helping you find a lender that you will be comfortable working with (if you do not already have one). The lender will guide you through the process, but you can always ask your Realtor® for assistance.
The home buyer needs to realize that buying a home is a legal process that has many layers. Whether you attempt to go it alone, hire an attorney or licensed real estate agent, make sure to do your research and make an informed decision that will benefit you for years to come.
Jewel Johnson
NB Elite Realty
https://jeweljohnson.gidrealty.com/
Ph: 832-373-6533
