Tips for Anxiety-Free Homebuying
Feeling stressed about this year’s home purchase options? Here are steps you can take to prepare for one of your largest purchases, no matter if you’ve bought a home before or if you’re a first-time buyer.
Tag: first time homebuyer
Putting Together Your Home Buying Team
Being a first-time homebuyer can be both exciting and overwhelming. It’s a significant financial investment, and the process can be complex and confusing. As a first-time homebuyer, it’s essential to educate yourself on the home buying process. It’s also crucial to work with a team of experienced professionals, including a real estate agent, mortgage lender, home inspector, and real estate attorney.
What Homebuyers Should Look for in a Backyard
When it comes to house hunting, there is no denying that the house is the main event. However, as a potential homebuyer, there are things to look out for when it comes to the front and backyard that you’ll want to keep top of mind as well.
Are You Ready to Be a Homeowner?
If you’ve been following the ups and downs of the house market in the last five years, you may be hesitant or uncertain about whether now is the time to purchase your first home. If you are wondering whether or not you are ready to be a homeowner right now, you are not alone. This is a large investment and not a decision to be taken lightly. However, homeownership is definitely worth the hassle and risk if you do happen to be ready.
What First Time Homebuyers Need to Know
The first time you go to buy a home, the process can be overwhelming and confusing. Not only do you need to have a thorough understanding of your own financial situation, and how it applies to purchasing and lending, but you need to have a decent handle on the real estate market and what is, or isn’t, needed to purchase the home you are hoping for and still get a good deal out of the arrangement.
Preparing to Buy Your Next Home
Even with the craziness of the past year, plenty of people are looking to purchase a home. Homeownership is a prize worth seeking but it can seem overwhelming for anyone going through this process for the first time. Even if buying a home is a long-term goal for you, there are some things you can (and should) focus on right now to get prepared to buy your next home.
Picking the Right Rug for Your Home
It seems to be a cliché of interior design—the right area rug can actually tie a whole room together and allow you to complete the room in a way you couldn’t before.
In many ways, this is totally true. What is worse is that the wrong type of rug can have the opposite effect and totally destroy any sense of unity or flow. This is why it is so important to take your time and find the area rug that is right for you.
You need to look at four areas when you’re picking out the right rug:
- First, you want to find the right size for your area rug. Too many people try to buy area rugs that take up most, if not all, of the room. This isn’t the right idea. It’s not for carpeting after all; it’s an accent and cover for the carpet. Instead, measure out the seating area for the room. In a living room or den, it may not be convenient to place all of the furniture completely on the rug. But the coffee table should be able to fit squarely in the center and the surrounding couches and chairs should have their front legs resting on the rug.
- Next, think about the shape that will best compliment your environment. If your room or the sitting area is square, then you can choose a square rug. But also consider a round one that can offset the room perfectly. If the sitting area is more rectangular, then choose a rectangular rug. (A square or circular one here will look off-kilter.) If you get a rectangular rug, make sure that you place it in the same direction as the flow of the room.
- Once you have the right size and shape, you will want to look at the texture of your rug. If you have a consistent texture style for all of your furniture, you may wish to pick something complimentary as your rug texture. If you have leather furniture, for example, it will look great with a fluffy area rug that it can kind of sink into. However, keep in mind that such a rug might be a tripping hazard for the elderly and little kids. Pick the texture that is right for you and don’t feel like you have to go with the basic wool that you see with most rugs.
- Finally, let’s talk color. If your furniture and décor are neutral or earth tones, you may want a rug that provides a pop of color. By contrast, bright furniture works well with neutral colored rugs. You don’t want a rug that just blends in with the carpeting and furniture. Instead, you want something that stands out distinctly.
Today, area rugs can actually be a big investment of money. They may not cost as much as full carpeting, but they aren’t cheap. Because of this, you should look to buy a rug that truly fits your room and your style so that you can create the area that you love.
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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.
Household Projects Perfect for January
As a homeowner, each season brings its own list of home maintenance tasks that need to be completed, and January is no exception. Even though it’s dark and cold (and often snowy) outside, that doesn’t mean you are off the hook when it comes to keeping up with your home.
Here are some suggestions for tasks you could complete this month to keep your home in top shape:
Check Your Batteries
Go through your home and check the batteries and test all the smoke and carbon monoxide detectors to make sure they are in optimal condition and that you can depend on them in an emergency.
Clean the Coat Closet
Whether you have a mudroom or a simple closet, take some time to organize the space. Get rid of anything that no longer fits, doesn’t have a match, or is in poor condition. Make sure your weather gear is easily accessible and you have what you need to brave the winter weather.
Tackle that Junk Drawer
We all have one. The drawer where all the miscellaneous knick knacks and gadgets go can easily get out of hand if it’s not organized regularly.
Make Things Cozy
Pull out those fuzzy blankets, candles, and teapots! Go around your home and figure out how to make each room cozy and comfortable since you’ll be spending more time indoors this time of year.
Protection from Water
If you want to protect your home from potential water damage, make sure you know where your water shut off valve is (just in case). Are those gutters clean? They are designed to send any possible water or snow runoff into an appropriate spot which could be problematic if they overflow into other areas.
This should give you plenty of projects to tackle this month to stay on top of the place you call home.
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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.
How to Prepare to Buy Your First Home
If you’re thinking seriously about buying your first home, then you should know that the experience can be trying and difficult at times. The process can be a long one and can sometimes feel a bit overwhelming.
In the end, however, when you walk into that home knowing that it’s yours, it feels so much more satisfying than renting. You should feel pride in what you have accomplished, especially knowing the economic benefits of owning versus renting.
With that being said, here are some things you need to do as you prepare to buy your first home:
- Check your finances—The first thing you need is a realistic appraisal of your finances. You have to determine if homeownership is something that you are financially ready for. Look at all of your monthly expenses and figure out if you will have enough money to put into emergency savings in case something breaks and you have to fix it. You will also need to have a substantial amount in savings for the down-payment on the loan.
- Get pre-approved—Next, you should start shopping around for the best interest rate on a pre-approved loan. If you get into a bidding war with other potential buyers, a pre-approval will actually swing in your favor since you don’t have to take the time to do extra paperwork. A pre-approved loan helps you find the cheapest rate possible and also helps you figure out exactly how much house you can afford.
- Find a realtor—Next, you will need to find a realtor with whom you can work closely. You want a realtor who will take into consideration all of your must-haves and who can find the best fit for your needs and budget. A realtor should be familiar with all of the neighborhoods in your area and should be able to find you the home that will work best for you.
- Hit a lot of open houses—An instinct for many first-time homebuyers is to go with the first house that catches their eye. Instead, you should look at as many homes as possible. Don’t settle on any until you are absolutely sure it’s what you want. This isn’t like a lease where you can move out after a year. You are making a long-term commitment, so you don’t want to rush in.
- Get an inspection—Once you find a home you are interested in, it’s essential that you get a home inspection. You don’t want to buy a house with serious plumbing or electrical problems, only to have to sink thousands into it for repairs.
After you’ve gone through all of this, it’s time to make an offer and see if your bid is accepted. Then comes the worst part of the whole process—the waiting. But once you get that call that your offer has been accepted, the feeling of elation makes the process well worth the experience.
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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.
Are You Ready to Be a First Time Homebuyer?
Home ownership, for most Americans, is both a dream and a sign of financial independence. But buying a home can be a scary proposition for many first-timers who may not understand everything about this complex process.
Here are some steps you need to take to become a first-time homebuyer:
- Get your down payment together
First-time homebuyers can generally get a loan with as little as 3% down. However, this may come with additional fees and requirements such as having to buy private mortgage insurance. Twenty percent is often a better option for a down payment, but that can put home ownership out of most people’s range. A good 10% down means $10,000 for every $100,000 of a home that you want to buy.
- Research mortgages
Next, you are going to want to look at different mortgage options. Become familiar with conventional loan programs like Fannie Mae and Freddie Mac as Federal Housing Administration (FHA) loans. If you are a veteran, you can also look into VA loans that may require no down payment.
- Set your budget
Look at your finances and determine what you can afford to spend each month on a mortgage. This will prevent you from wasting time looking at houses that are outside of your budget range and keep you from getting in over your head with a mortgage that you can’t afford.
- Shop around for interest rates
Don’t take the first bank you look at as the best for interest rates. Saving just a fraction of a percentage point has the possibility to save you thousands of dollars in the long run.
- Get pre-approved
One of the best things that you can do as a first-time homebuyer is to come to your real estate agent armed with a pre-approval from a local bank. This can give you an advantage when you make an offer on a home as an owner will generally choose someone with pre-approval over someone without it.
- Research the neighborhoods
If you are looking for a home, you need to list out the amenities you are looking for—such as proximity to public transit or shopping sites or the quality of the schools. Once you start looking at neighborhoods, be sure that they fit into these qualifications. Before you make an offer on a home, you should also research the crime rate for that area.
- Don’t forget about closing costs
Another thing you need to do when you are calculating your budget is to remember to figure in closing costs. Estimate between 2% and 5% of your total loan when you are making this figure.
Being a first-time homebuyer can be an exciting (and terrifying) prospect. But with a lot of research and acquired knowledge, you can take the nervousness out of this process and perhaps even find the home of your dreams.
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Whether you’re buying, selling, refinancing, or building your dream home, I’m here to help you explore the many financing options available. Ensuring that you make the right choice for you and your family is my ultimate goal. I am committed to providing my customers with mortgage services that exceed their expectations. Find out more by visiting my website.