Take Charge When Buying a Home

The task of buying a home can be overwhelming. There's so much to consider:

  • How much house can I afford?

  • How can I find the best loan?

  • Where will I come up with a down payment, and how much will I need?

  • Should I buy a new or resale home, and which will go up in value?

  • Should I work with an agent or look at homes on my own?

Those questions are just the beginning. Buying a home is one of the largest financial transactions in your lifetime - do your research so you know what you’re doing.

Here are the two most important things to remember, no matter where you are on the road to home ownership:

1. You can and should understand everything that is happening in the home buying process.

There is nothing in this process that is so complex it can't be easily explained to anyone. Just because you don't apply for a thirty-year mortgage once a week doesn't mean you have to take the first one that comes along. You may need to learn some new terms, apply some new concepts, and take the time to understand what you're getting into.

If you are purchasing in a retirement community, the choices may be different. Do you want to have a loan at all? Depending on market conditions, the cost of financing, and your personal needs, you will need to assess all the variables to determine your best option. It may be that you apply for financing but reserve the right to use cash for your purchase, or vice versa.

2. In the world of real estate sales, YOU are the most important person in the entire process.

Flex your consumer muscle and take command of this process. Surround yourself with a team of professionals that you have confidence in, and make them work for you.

Approach home buying with deliberation and enthusiasm and by doing your homework, and you are more likely to be comfortable with the process and your decision.