Besides the beneficial tax write-off of all the interest that one pays on their mortgage, it’s nice to be in control of your own moving schedule without having to worry about renewing a lease. In addition, it’s nice to be able to make your own house rules, to paint the walls or even the house whatever color you like. It’s a good way to build a significant asset to cash-in on later in life. Plus you never get rent increases!
Have any questions? Please comment on this post or reach out via email and I will be happy to answer them!
1. Find a top notch broker who is a good listener. The best way to do this is by asking a friend or relative who has recently sold or bought a home. Otherwise if you know an agent – call them!
2. Get pre-approved by a local lender (bank or mortgage company) that you are comfortable with. Again friends or relatives is always a great place to start – being pre-approved means you are ready and able and qualified to spend a certain amount on a home and can comfortably afford it.
3. Meet with the agent you choose (sometimes you have to interview more than one sometimes you just know “this one” is the right person for you.) Have them sit down with you and talk about your price range, house style, location, etc.
5. If you have little children looking at multiple homes can get boring for them and also it will not allow you to focus on the home and all the amenities. I suggest you find a babysitter or a relative or friend to babysit.
6. Attend Open Houses and be sure to sign your Buyer Agents’ name. This protects your relationship with them and you will be able to view several homes in one day. Also as a courtesy make sure the agent running the open house knows you already have an agent and let your agent know of any homes you think you are interested in.
Feel free to ask me any questions about Real Estate and I will be happy to reply.
1. It’s vitally important that you know your real budget. So it is wise to get pre-approved by a local lender. Get a referral from your Buyer Agent or from someone you know who recently obtained a mortgage and was happy with their terms and service. This means providing the most recent 2 years of your tax returns, along with other savings, debts and investments. Looking at homes without a pre-approval can result in one either falling in love with a house they can’t afford or buying too little house and outgrowing quickly.
2. Find a no pressure agent who is experienced knows the ropes, pitfalls, red flags, and a fair amount about construction. While great agents aren’t home inspectors they will have keen eyes for critical components of properties.
3. Be sure to pay close attention to the contour of the lot and abutting properties, as water, although we all need it and love it, we don’t want to have it in our basements or anywhere it can do damage to a home. Driveways are of particular concern for safety in the icy winter months, inclement weather, and for convenient access with the groceries.
4. Another critical factor in selecting a home is the clearance between the foundation and any siding. There should be a minimum exposure of the foundation of at least 8 inches. Poured concrete is always preferred over concrete block as termites can much more easily find access to the wood in the dark!
5. Once one finds a home they want it is important to get the utility costs. Energy efficiency can often be improved, but you will want to know what your heat, hot water and electricity costs will be on annual basis.
Please send me any questions you have about residential real estate, condominiums or multi- families.
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