Buyers

 

 Where do you begin if you’re interested in buying a home here in South Florida? It’s a great time to buy, as home prices are at very attractive prices as the housing market has seen prices decline steadily over the last several years.

The first thing that you’ll want to do as a Buyer is to determine how you’ll buy your new home.  If you’re financing with a mortgage, you’ll want to get yourself Pre Approved for a mortgage. When you find a home that you’re interested in buying, you want to make sure that you’re ready to put in an offer on your dream home by being Pre Approved with a Lender already. If you find a new home to buy and then you have to go and get yourself Pre Approved for a mortgage you could miss out on your dream home as you need to submit your offer showing that you are already Pre Approved for a mortgage. So if you’re in the market to buy a home soon, get Pre Approved first.

The home buying opportunities are wonderful; simply take advantage of one of the foreclosures or short sales in the market if you have the patience, you’re not in a hurry and you’re willing to wait the time it takes to gain Short Sale approval. If you don’t have the extra time that a Short Sale may take, you’ll want to stay with the Traditional Real Estate sale here in South Florida.

It’s also a very exciting time for First Time Home Buyers. I take pleasure in helping First Time Home Buyers find that perfect home to settle into and begin making new memories that will last a lifetime.

 

 

10 Steps to Prepare for Home Ownership

1. Decide how much home you can afford. By being Pre Approved with a lender they can advise you of how much you can afford.
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, attorneys fees, and transfer fees average between 3  percent and 6 percent of the home price.
5. Get your credit in order. Do not make any major purchases prior to purchasing your new home, such as a new car or new furniture. Wait for the new furniture until after you move in. 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 your 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.
10. Find a REALTOR who can help you through the process.