Site search
sponsored by
News
If you are a first time home buyer, this could be a great time to start looking for a home! Mortgage rates are relatively low, available property inventory is high, sellers are motivated, and lower asking prices mean that Summit County market conditions are in your favor. If your finances are in order, now is the time to start that home search.
Begin with some preparation, by carefully reviewing your budget. Determine how much you will have to offer as a down payment, and how much you can afford to pay monthly. Remember to calculate not just your mortgage payment, but all your costs including dues, taxes, utilities, food, entertainment, insurances, etc. Set up a meeting with a lender for a free loan pre-qualification. Getting a good handle on your finances is critical to making the right real estate decision.
Next, think long, and hard, about what you want from this purchase. Is it a starter home that you want to stay in less than five years, or maybe you want a home that can accommodate a growing family? Take some time to define your parameters such as location, number of rooms, school proximity and available public transportation.
Once you have outlined your budget, what payments you qualify for, and your wants and needs, you are ready to begin viewing listings. A real estate professional can be a huge asset during this process. He, or she, can pre-screen homes, and make sure they fit your budget, and your needs. An agent can also provide insights on whether the asking price is fair, and help identify a listing's strengths, and weaknesses. The Realtor’s commission is almost always paid by the seller, which means the services of a Realtor are free to you, the buyer!
Once you start looking at properties, it can be a challenge keeping track of the homes you have seen, and their pros and cons. Ask your realtor for an MLS information print out for each property you view, and make notes on these sheets.
When you visit homes, ask if you can take pictures of the property, to go along with the info sheets. Write down the things you love, like and dislike about each listing. In the end, a combination of thorough preparation, a good Realtor, and organization, can help make your first-time purchase a successful one.
Begin with some preparation, by carefully reviewing your budget. Determine how much you will have to offer as a down payment, and how much you can afford to pay monthly. Remember to calculate not just your mortgage payment, but all your costs including dues, taxes, utilities, food, entertainment, insurances, etc. Set up a meeting with a lender for a free loan pre-qualification. Getting a good handle on your finances is critical to making the right real estate decision.
Next, think long, and hard, about what you want from this purchase. Is it a starter home that you want to stay in less than five years, or maybe you want a home that can accommodate a growing family? Take some time to define your parameters such as location, number of rooms, school proximity and available public transportation.
Once you have outlined your budget, what payments you qualify for, and your wants and needs, you are ready to begin viewing listings. A real estate professional can be a huge asset during this process. He, or she, can pre-screen homes, and make sure they fit your budget, and your needs. An agent can also provide insights on whether the asking price is fair, and help identify a listing's strengths, and weaknesses. The Realtor’s commission is almost always paid by the seller, which means the services of a Realtor are free to you, the buyer!
Once you start looking at properties, it can be a challenge keeping track of the homes you have seen, and their pros and cons. Ask your realtor for an MLS information print out for each property you view, and make notes on these sheets.
When you visit homes, ask if you can take pictures of the property, to go along with the info sheets. Write down the things you love, like and dislike about each listing. In the end, a combination of thorough preparation, a good Realtor, and organization, can help make your first-time purchase a successful one.
