As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. Here are a few tips for dealing with the dollar signs so that you can take down that “for sale” sign on your new home.
Get pre-approved. We want to show you properties you can afford. There is nothing worse than finding your dream home only to realize it is outside of your budget. A pre-approval allows us to spend our time wisely and allows you to know with confidence your offer will not be held up with financing.
Choose your mortgage carefully. Choosing the right financing for your financial situation depends on just that, your financial situation. Interest rates, monthly payments and up-front costs are all considered when choosing the right mortgage option. Financing a home changes from year to year depending on the overall economic situation. It is a good idea to re-consider these options prior to each real estate purchase.
Do your homework before bidding. Before you make an offer on a home, do your agent will present you with the sales trends of similar homes in the neighborhood. Based on these numbers, your agent will help you determine an opening bid for the property you have chosen.