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BUYING
How to Buy Your First Home....the Easy Way!
Avoid the 10 Most Common, Painful, Frustrating Mistakes First-Time
Home Buyers Make
Buying a residence can be a hair raising experience. You will experience
a roller coaster of emotions while finding the right place, securing
the loan and finally moving in. For most of us, the first time home
purchase is the largest investment we’ve ever considered. The
emotions of purchasing something so expensive and personal can often
cloud our business judgment.
Most
home purchasers do little or no research before they invest their
nest egg. Doesn’t it make sense to become as completely informed
as possible before you buy your first home? This special report
is designed to help you avoid 10 common and crucial mistakes. The
right real estate professional can help you make good sound business
decisions based on your personal situation.
Inspect, Inspect and Inspect - Go over the inspection report with
a fine tooth comb. Make sure the report was done by a professional
organization. For condo purchases go over the CC&R’s, By-Laws,
and Association Fees. Don’t take anything for granted... inspect
everything!
Imagine the Property Vacant - Your furnishings and decorations
will be the ones filling this new residence. Don’t be swayed
by beautiful furniture; it leaves with the owner.
Income + Lifestyle = Mortgage Payment - Sit down with your
professional real estate agent and honestly discuss your income
level and living expenses. Take into account future considerations,
children, add-ons, amenities, and fix-ups. Your dream home is certainly
worth a sacrifice but don’t mortgage your entire future.
View Several Homes - See at least 7-10 properties. Don’t
move too slow but don’t move on the first property you see.
With your agent’s help you should be able to view enough properties
to get a good overall perspective of the home market. When you find
the right property all the leg work will be worth it.
Utilize Your Team - By aligning yourself with the right real
estate professional you will have an entire team at your disposal.
Utilize your lender, title rep and agent. Each of them should work
hand in hand for your benefit. Explore all the options before you
sign.
Be Columbo - Check out all costs and expenses before you
sign. Utilities, taxes, insurance, maintenance and home owner dues
if applicable. Make sure all utilities (gas, electricity, and water)
are on during tyour walk-throughso you can inspect everything in
working order. Ask lots of questions and be very detail conscious.
Do a Final Walk-Through - Visit the property after all furnishings
have been moved out to be sure there are no surprises. Be absolutely
positive the property was left exactly as you had agreed upon in
the contract. Things that could have been spotted in a final walk-through
are often unintentionally overlooked.
Plan For Flexibility - Closing dates are not written in stone.
Allow for contingencies and have a back-up plan. If you or the sellers
need a little more time to conclude the final arrangements, don’t
let these delays upset or frustrate you. These types of circumstances
are not uncommon in a real estate transaction.
If It’s Not In Writing, It Doesn’t Exist - All
promises and discussions should be in writing. Don’t make any
assumptions or believe any assurances. Even the best intentions
can be misinterpreted. Have your professional keep an ongoing log
in writing of all discussions and get the seller’s written
approval on all agreements.
Loyalty Breeds Loyalty - Be open, honest and up front with
your team. Hard feelings and disloyalty will cause head aches, delays
or may even keep you from getting into the home you worked so hard
to locate. Take the time to select the right team in the beginning
and your first home purchase will be a pleasing and memorable experience.
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Article reprinted courtesy of Total Real Estate Solutions
http://www.totalrealestatesolutions.com
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