Local Buying Tips

The best way to make sure you choose the right home is to properly prepare yourself. The purchase of a home is a tremendous investment, both monetarily and emotionally. The purpose of this page is to provide you with some tips to help your transaction progress smoothly and result in you being a happy homeowner.

• Get help - Your home is likely to represent one of the largest investments in your life. In order to make sure the transaction goes smoothly it is of vital importance that you choose the right real estate agent to represent your interests. The right agent will be someone whose experience and personality makes you comfortable.

• Get pre-approved - Do you already know how much home you can afford? There is nothing more frustrating than looking for a home, finding the perfect home, then discovering it is out of your price range. Speak with a lender to learn about the different financing options available to you. When you find the right lender, get the paperwork processed so you will be ready to buy once you find your perfect home.

• Avoid major purchases - In order to determine the amount of home you can afford, a lender will use your debt-to-income ratio to determine the percentage of your pre-tax income you spend on debt. Your debt ratio will include monthly housing costs, car payments, credit cards, student loans, and any other installment debt. If you take on more debt before buying a home it will have an impact on the amount of the loan that the lender will finance.

• Ask Questions - No one knows the home better than the seller of the property. However, it is not always in the seller's best interest to disclose all information. If you find out the seller's motivation for selling, you might be able to negotiate a better deal on the home. Find out the last time service was performed on the roof, furnace, and water heating. Asking the right questions now can end up saving you a lot of money in the long run.

• Get the home inspected - The last thing you want to discover after you have bought a home is that you have purchased a "money pit". By "money pit" I am referring to a home full of defects which will end up costing you a lot of money. Save yourself from future litigation by bringing in a licensed home inspector before you buy. If any problems are found the report will help you make an informed decision or negotiate a better price.