Saving money for a down payment on a home is no easy feat, which is why I started looking into various ways to make sure that I had things sorted out like I should. I began working with a real estate agent to chat about what to do and how to start saving, and they explained how much I needed if I wanted to avoid private mortgage insurance, and when the market typically trended upwards. It was really neat for me to see everything I could do with the advice, and saving became easier after I had a clear goal. Find out more about real estate by reading this blog.
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Working With Talented Professionals
Recommendations To Help You Through The Home Purchase Process
Cathy Frazier
The home shopping process is exciting but also important that you take the right steps and make good decisions. Here are some recommendations to help you through your upcoming home purchase process.
Find a Good Realtor
When you are looking to purchase a piece of real estate, whether it is a condo, townhome, single-family home, duplex, or multi-unit property, you will want to hire a professional Realtor. They will be the one who will have the knowledge of the process, experience in negotiating a good purchase price and terms, and the ability to help you find the right house and remain calm even though you may get emotional during the process.
Be sure you hire a buyer's agent to help you buy a house and not a seller's agent. Some agents do work with both sides of the real estate sales process, so be sure you hire one that specializes in buying. They will have the extra experience to find homes, even those not listed for sale yet, and to help you negotiate the best terms for the purchase and your budget.
Ask around with those you know to find some references of real estate agents that you can call and interview. If you have a mortgage broker you are working with, they can give you some good references in the area to choose a Realtor. Or you may know of one already that does a lot of business in your area and has matching expertise.
Choose Your Housing Type
As you start to shop for a home to purchase, make sure you are aware of each type of home and housing so you can select the one right for you. Do you want to buy a home but also be a landlord and rent out part of the property? If so, you might want to look at a duplex or multi-family property. Otherwise, you can consider a single-family home in the area or a townhome or condo if you want to live in a more urban area or don't want the responsibility of a lot of maintenance.
With the help of your Realtor, you can evaluate the price range of each housing type to help you make a decision. Some markets may have a good selection of starter single-family homes if you want your own yard and privacy, otherwise, a condo in a shared building and valuable amenities on the property may be more within your budget. With a mortgage pre-approval, you will have a good budget for your new home purchase.
Contact a company like Annie Ritterbusch - RE/MAX Professionals of Newport to learn more.
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