Buying can be the start of the best decision you have ever made. However, between finding the right place, securing the loan, and moving in, you are likely going to experience some stress. Buying a home is often the largest investment you have considered, and the emotions of purchasing something so expensive and personal requires a great team behind you, which is why Fairway Independent Mortgage Corporation is here to help.
Here are 10 tips that will make you an excellent homebuyer:
- Have the Right Partners – Take the time to select a great team in the beginning, and your first home purchase will be a pleasing and memorable experience.
- Income + Lifestyle = Mortgage Payment – Be open, honest and up front with your real estate agent and my team when discussing your income level and living expenses. Take into account future considerations such as children and plans you may have for repairs and upgrades for the house. Your dream home is certainly worth a sacrifice, but don’t mortgage your entire future.
- Utilize Your Team – Align yourself with the right real estate professional and Mortgage Planner. Everyone should work together for your benefit and answer all of your questions.
- View Several Homes – See multiple properties. 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 of the legwork will be worth it.
- Imagine the Property Vacant – Your furnishings and decorations will be the ones filling this residence, so don’t be swayed by beautiful furniture that leaves with the owner.
- Be Thorough – Explore all costs and expenses before you sign such as utilities, taxes, insurance, maintenance and homeowners association dues (if applicable).
- Inspect, Inspect, Inspect! – Go over the inspection report with a fine-tooth comb and make sure that a professional completed the report. For condo purchases, review the bylaws and association fees. Don’t take anything for granted – inspect everything!
- 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 acquire the seller’s written approval on all agreements.
- Do a Final Walkthrough – Visit the property after all furnishings have been moved out to be sure that there are no surprises. Be absolutely positive that the property was left exactly as you had agreed upon in the contract. Make sure that all utilities (i.e., gas, electricity, and water) are on during your walkthrough so that you can inspect everything in working order.
- Plan for Flexibility – Closing dates are not written in stone. Allow for contingencies and have a backup plan. If you or the sellers need a little more time to conclude the final arrangements, don’t let delays upset or frustrate you. Circumstances such as these are not uncommon in a real estate transaction.
There is a lot going on when purchasing a home. While there might be some bumps in the road, I am always here to help in any way that I can. Call me today to schedule an appointment to review your financial plans. I look forward to the opportunity to help you make the best home loan decision and show you the path toward homeownership.