BUYING
Buying a home is a big deal.
Too often, I think people rush into home ownership because it’s seen as a sign of adulthood and financial responsibility.
But owning a home is a big commitment, it’s not a guaranteed good investment, and it’s a truckload of work. (I’ve been a homeowner for only two years and I already have a growing list of things to do and contractors to call…it’s not always the creative paradise remodeling shows make it out to be).
And last but not least, believe me, lots of people own homes and yet their finances are a mess! Home ownership can be a smart long-term move, but you want to know what you’re getting into.
With that said, I know that if you’re reading this, you’re probably going to buy a house anyway. That’s fine; I did too. So here I’ve put together a first time home buying guide to wrap up our best advice over the last few years in once place. Enjoy!
In a perfect world, you would commit to buying a home and get mortgage pre-approval before stepping foot into your first open house. Obviously, it may be you didn’t realize you wanted to own a home until you see your dream home. Either way, shopping for a home can be a long and taxing process.
Understand how mortgage rates work. Before the 2008 financial crisis, you probably remember hearing about how many people were starting to have trouble making payments on adjustable rate mortgages, or ARMs. This post briefly describes the difference between fixed rates and ARMs, as well as what mortgage points are, and whether you should ever pay them on your mortgage. Compare current mortgage rates and get good-faith estimates from a few lenders on what your rate and costs would be.
Be patient, and remember a few important things about buying a home. Buying a home—especially your first home—is a huge decision. Take your time, don’t let brokers pressure you, and make sure you’re ready. It’s better to buy a home when you’re financially prepared to do so, not just because rates are reasonable and rents are expensive. (And remember that your mortgage isn’t all your pay once you buy a home: there’s still taxes, and closing costs, and maintenance. Use our buy or rent calculator to determine what’s best for you.)
Determine how much house you can afford. I do not subscribe to the philosophy that you should treat your home as an investment. Yes, hopefully it will appreciate over time. But you should buy it to be your home. That means you should only spend what you can afford today.
We are here to help you every step of the way...
Too often, I think people rush into home ownership because it’s seen as a sign of adulthood and financial responsibility.
But owning a home is a big commitment, it’s not a guaranteed good investment, and it’s a truckload of work. (I’ve been a homeowner for only two years and I already have a growing list of things to do and contractors to call…it’s not always the creative paradise remodeling shows make it out to be).
And last but not least, believe me, lots of people own homes and yet their finances are a mess! Home ownership can be a smart long-term move, but you want to know what you’re getting into.
With that said, I know that if you’re reading this, you’re probably going to buy a house anyway. That’s fine; I did too. So here I’ve put together a first time home buying guide to wrap up our best advice over the last few years in once place. Enjoy!
In a perfect world, you would commit to buying a home and get mortgage pre-approval before stepping foot into your first open house. Obviously, it may be you didn’t realize you wanted to own a home until you see your dream home. Either way, shopping for a home can be a long and taxing process.
Understand how mortgage rates work. Before the 2008 financial crisis, you probably remember hearing about how many people were starting to have trouble making payments on adjustable rate mortgages, or ARMs. This post briefly describes the difference between fixed rates and ARMs, as well as what mortgage points are, and whether you should ever pay them on your mortgage. Compare current mortgage rates and get good-faith estimates from a few lenders on what your rate and costs would be.
Be patient, and remember a few important things about buying a home. Buying a home—especially your first home—is a huge decision. Take your time, don’t let brokers pressure you, and make sure you’re ready. It’s better to buy a home when you’re financially prepared to do so, not just because rates are reasonable and rents are expensive. (And remember that your mortgage isn’t all your pay once you buy a home: there’s still taxes, and closing costs, and maintenance. Use our buy or rent calculator to determine what’s best for you.)
Determine how much house you can afford. I do not subscribe to the philosophy that you should treat your home as an investment. Yes, hopefully it will appreciate over time. But you should buy it to be your home. That means you should only spend what you can afford today.
We are here to help you every step of the way...
SELLING YOUR HOME
An agent will be able to provide detailed market information about the overall market, your neighborhood, and your specific home that will be crucial to targeting the right price and marketing strategy to attract a buyer quickly.
Unbiased opinions A good listing agent will tell you not only what buyers will love about your current abode but what will turn buyers off as well. For instance green shag carpet is out but colorful walls are in. The ability to provide a critique of your home's curb appeal and help with home staging tips can be crucial to building a good first impression with buyers.
Marketing expertise Agents are trained to pick up on key features that will set your home apart from the competition. Building on these focus points, they can structure a multi-media marketing approach to finding a buyer using their economy scale (advertising multiple properties) that will be hard to match as an individual homeowner.Exposure.
The biggest advantage of using a listing agent is often the dramatically increased exposure that an agent provides through the Multiple Listing Service and web marketing strategies. As typically over half of all listings are sold by co-operating brokers, when you work with a listing agent you are actually tapping into the buyer inventory of every agent in your community.
Negotiation skills A listing agent provides sellers with an emotional buffer between themselves and the potential buyer. This often makes negotiating a sale easier and more profitable for the homeowner as it's far easier to reject or counter offers through a third party rather than face to face when selling on your own.