Hello, today's topic is about the 5 things you need to consider before beginning the process of buying home:

1. Pre Appoval Letter. First you will need a Pre-approval letter because all sellers require a pre-approval letter when you send an offer. This letter is issued by mortgage brokers, banks, or lenders and tells you the loan amount for which you are pre-approved and thus the maximum price you can pay for a house. Knowing the amount of the loan you are pre-approved for is useful because you can focus your search on homes within your price range.

2. The next important questions to consider are: "What?", "When?", and "Where"?:

When asking "What" you should consider what you want in your home. For example, "Do you want a custom, inventory or newly remodeled home?" You can also choose a less expensive  home to remodel yourself!  Just be aware that each option has it’s own pros and cons.  We will discuss those details when meeting in person.

When:

Buying a home is a major life event and needs proper planning. If you are renting right now, you should know that financing alone may take 30 to 40 days. As a result so you may want to consider your home purchasing time-frame when reviewing the renewal of your lease or other options if you are in the middle of your lease agreement term.

Where:

"location, location, location," It is vitally important for you to consider how the location of your home will impact your daily life.  How far is your potential home from your workplace and the grocery store? How much will you have to travel to spend time with family and friends?  Is there access to public transit near your residence? Is your dream home near a railroad or airport? When looking for a home it is best to do some research and visit the neighborhood during different times of day, meet your potential neighbors, and take note of the traffic around and through the area.  Doing those things will help you make a fast and informed decision.

3. Costs. When calculating cost you must factor in not only your down payment but also:

• closing costs

• origination fees

• the cost of the inspection, etc.

Make sure you have an ample amount of savings and avoid using credit to fund your home purchase!

4. Be realistic. When considering your dream home you may also want to consider the expense of getting what you want.  Keep in mind that the condition of the neighborhood will largely affect the price of a property.  As a realtor, my goal is to work with you to find the best property at the best price.

5. Finally, work with an expert. 

Using a realtor for buying or renting is free of charge for a buyer or tenant. Because navigating the home buying or renting process can be difficult its good to have someone on your side to make sure your rights are protected. Good realtors know the law and are able to provide reputable referrals for services related to purchasing a property such as:

property inspections

insurance 

mortgages,etc.

Please feel free to contact me with any questions.

Neda
(832) 404 2033
neda@yourdreamre.com