Whether you’ve 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 feel endless.
With the strength of Real Estate One behind me, I can help you find the answers—and peace of mind. Real Estate One is the industry leader in experience and service.
Here are some tips to help you with the process of becoming your own landlord:
- Pre-qualify for a loan. Being pre-qualified for a loan determines how much house you can afford. It also allows you to move more swiftly when you find the right home, especially when you aren’t the only interested buyer.
- Shop for mortgage rates and terms. Even half a percentage point can make a significant 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 8.0% versus 7.5% is about $35 per month. Over thirty years, that’s $12,600.
- Consider using a buyer agent. A buyer agent is legally responsible for representing buyer’s interest in a real estate transaction. Generally, the buyer agent is compensated by the seller at the time you purchase your new home. There are some limitations to using a buyer agent, however. Please feel free to contact me for more information.
- Learn how certain home features will affect resale value. In some areas, a swimming pool actually detracts from a home’s value and makes the home harder to sell. In neighborhoods where two-car attached garages are common, a single-car or detached garage may impact the home sale and future value. I can point out features that will either hurt or help future resale value.
- Rate the houses that you tour. After touring each home, write down what you liked and didn’t like. Develop a rating system that will help you narrow the field.
Any Questions?
That’s what I’m here for! Please feel free to phone me at your convenience (734-637-5897) or contact me via e-mail.
