Today I wanted to give you my five favorite tips for finding a home within your budget.
- Stick to a firm price. Before you begin looking for a home, you should sit down with a loan officer to find out what you can afford to buy. You also want to think about what you're comfortable spending. Once you've looked at those things and have come up with a budget, stick to it.
- Communicate with your real estate agent. We're your best friends during this process, and we're here to help you navigate through all the properties, find out whether your financing works for them, negotiate the best deal possible, and get the best terms. We want to hear from you and help you.
- Shop only for you. For example, when I bought my home, I brought along friends and family, and of course, everybody had an opinion. At the end of the day, you're the one who needs to live in the home, so as much as you value the opinions of your friends and family members, you have to make the best decision for you and your family.
- Search for fixer-uppers. Homes in need of a little repair help you get a better price, especially if the seller knows that there are other homes in the area that are more modern and need less work. It also gives you the chance to put your own personal touch on a property. Your Realtor will also help you understand whether your financing will work for the necessary repairs. Some fixer-uppers might need too much repair for the type of financing you have.
- Save for a down payment. Although there are some programs out there that allow for 100% financing, most require some kind of down payment from 3.5% all the way up to 20%. The more money you put down, the more affordable the house is going to be.
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Your Realtor is your best friend
during the process.
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during the process.
