Property Search
You have made the decision to look for a new home; what now? There are some
steps that will help make the choice of a new home much easier.
1. Decide how much home you can afford. Generally, you can afford a home
equal in value to between 2 and 3 times your gross income.
2. Develop a wish list of what you'd like your home to have. Then prioritize
the features on your list.
3. Select three or four neighborhoods you'd like to live in. Consider items
such as schools, recreational facilities, area expansion plans, and safety.
4. Determine if you have enough saved to cover your down payment and closing
costs. Closing costs, including taxes, attorney's fee, and transfer fees average
between 2 and 7 percent of the home price.
5. Get your credit in order. Obtain a copy of your credit report.
6. Determine how large a mortgage you can qualify for. Also explore different
loans options and decide what's best for you.
7. Organize all the documentation a lender will need to pre-approve you for a
loan.
8. Do research to determine if you qualify for any special mortgage or down
payment assistance programs.
9. Calculate the costs of homeownership, including property taxes, insurance,
maintenance, and association fees, if applicable.
If you have any questions about the items listed above I am happy to provide
assistance at no cost to you. Simply contact me at the link below and we can set
up a convenient time to get together and help get you on the no hassle road to a
new home.
|
