Basics of Buying

Buying a house does not have to be scary or complicated.  It should be one of the most rewarding things you can do for yourself.  If I had a do-over in life, I would have bought my first home as soon as I was old enough to qualify for a mortgage.  It is the number one investment you can count on and you get the luxury of living in a great home while you grow your money!  
Of course, as with all investments, its good to do your homework and have a knowledgeable agent to help you make a smart purchase. 

Each year, a well maintained home will help you build equity as you pay off your mortgage and as the house appreciates.  When its time to move, you cash in on that return!  If you rent, you walk away with nothing.  Owning your own home should be a serious consideration when planning for your future.

"But, Lora, I have no idea where to start!"  

First start with a Commitment to Saving:  Sometimes first-time home buyers don't realize that there are several upfront expenses that you will be required to pay. Earnest money, inspections, appraisal, down payments, and closing costs are just some of the basis fees you will be required to pay during the purchase period.  It is wise to start saving well in advance so that when you are ready, you will be able to get into the home you want.

Build a relationship with a Mortgage Lender:  This should be done at the same time you open your "first home" savings account.  A mortgage lender will go through your income and finances to let you know what amount they will lend you for a loan.  They will then be able to give you an ball park goal of what you need to have in your "first home" savings account when you begin the process of looking for a home. 

Build a relationship with a good Real Estate Agent:  A good agent will help you scout out the best home for your needs. This agent will represent your interests and make sure that you fully understand the process of buying a home.

When working with a new buyer, I like to sit down and give a full consultation of the home buying process to make it less intimidating and unknown.  There is nothing worse than being surprised with fees and paperwork when you least expect it.  The more comfortable you are, the more enjoyable the process will be. 


If you would like to learn more about the home buying process, call or email, Let's Talk!