Whether
it's your first home, your tenth or an investment,
take note of these important tips to help you get
the most for your money.
Finances
-
Organizing your finances is the first step in your
home purchase.
Consider one time cost
like the down payment, legal fees, inspection fees,
taxes and moving expenses.
Anticipate all monthly
costs including taxes, utilities and upkeep.
Determine the current
equity in your home and consider paying off high
interest loans or rolling them into a new mortgage.
Research several
mortgage options and pre-qualify before making any
offers.
Your Needs & Wants
- Consider your current
lifestyle as well as the future budget.
Select a location that
best serves your evolving lifestyle and is close to
the amenities important to you.
Look for features you
will need, such as additional bathrooms or a large
yard.
Beginning Your Search
- Preview home that meet
your criteria and remain objective.
Have your agent send
you listings of properties that match your criteria.
Make sure your agents helps you
understand current market conditions.
Be aware of noise
levels from neighboring propertiess and the street.
Flush the toilets, turn
on the shower, open cabinet drawers and look in
closet corners.
Making an Offer
-
Look at what comparable houses
are selling for in the
neighborhood.
Invest in a home inspection
and review any potential areas of concern.
Work with your agent to
sort through key elements of your offer such as, price,
deposit, financial terms, inclusions and exclusions and
your closing or possession date.
Closing -
Hire a legal professional to manage all closing documentation
Obtain Home Insurance and
notify your lawyer and mortgage lender of the selected insurer.
Coordinate cancellations,
transfers and change or address notification documentation, pay
fees and collect keys to your new home
