At Home with Tammy Real Estate Magazine Winter 2018 | Page 5

10 BIG-TIME TIPS FOR HOME BUYERS
START
Useful tips to improve your experience
1. START BY PLANNING, THEN START
THE COUNTDOWN! Don’t get carried away
with your enthusiasm. This is probably one of the
biggest purchases you will ever make, so instead of
being impulsive (like those shoes you just bought),
do some research. Spend some time making a plan
(including a time-line). It can make the difference
between loving your new home and regret.
2. FIND THE RIGHT REALTOR. Set up a
meeting to discuss your vision and start forming a
relationship! Of course, we want you to call Tammy
Mitchell Hines & Company. We will do everything
we can to make your buying experience enjoyable.
Your agent is your insider into the world of home
buying and can be a priceless asset when buying
a home. You want someone you can trust to give
you quality advice when you need it. Home buyers
have as much to gain from an experienced agent
as home sellers do. You have the right to your own
representation when buying a home. They can
help you find properties listed with them, listed with
other agencies, for sale by owner and even builders.
Your agent should work closely with you and build
a relationship where they truly understand what your
priorities are. Their success is directly tied to your
success in finding that perfect home.
3. CAN YOU AFFORD IT? Making sure
you can pay your bills is one of the most important
parts of buying a home. Falling in love with a home
you can’t possibly afford (and still have a life) could
set you up for disappointment. Take a serious look
at your monthly budget. Figure out what you have
left after you take care of everything you are doing
now. That’s what you will have to spend on your
new mortgage and home expenses. You also have
to factor in related expenses such as insurance,
increased utilities, taxes and repairs. If those
numbers aren’t adding up, then buckle down and
change your spending ways until you get where you
need to be.
4. MAKE A LIST OF YOUR WANTS AND
NEEDS. Create a checklist and prioritize. How
important is the neighborhood, school district,
proximity to recreation and entertainment? These
things can be just as important as square footage
and how many bathrooms the house has. Take your
list with you when you look at houses and make
notes. Knowing what you really need can help
narrow your home options and make it easier to make
decisions.
5. EXPLORE
MORTGAGE
OPTIONS.
Since most people aren’t going to pay for a house
with cash, you will probably need some kind of
loan. A mortgage is a loan that uses property
(like your new house) as collateral. If you never plan
to buy another home, you might be interested in
a 30 year fixed rate mortgage. But if it is a starter
home, you might want an adjustable rate mortgage.
You may also qualify for special financing, grants,
programs or even First Time Home Buyer programs
that your mortgage advisor can help you explore.
If you don’t know where to find a mortgage advisor,
we can give you the names of some we work with on
a regular basis.
1. GET PRE-APPROVED
6. GET PRE-APPROVED. This is KEY for
a good home search. Your lender will help you
understand how much you can expect to
borrow and even give you ideas to improve your
borrowing power. Pre-approval will also gives
sellers a little more confidence in your seriousness
when making an offer. There is no worse feeling than
falling in love with a new property, only to find out
it is financially out of reach. Getting pre-approved will
take the guess work out of your home search and
make the process move much more quickly when you
find that perfect home.
7. EXPECT TO NEGOTIATE. It is usually a
part of the offer process. Your agent will help you
understand what is realistic in terms of offers.
Knowing how long the house has been on the
market, the asking price position related to
comparable properties in the area and even the
number of houses in the neighborhood can make
a difference. Make sure your offer includes
contingencies such as financing and property
inspection. You don’t want to be bound to a home if
you don’t have enough money to pay for it. You also
don’t want to purchase a home that has a structural
defect or some other deal breaker without having the
option to go back to the negotiation table.
2. CALL TAMMY MITCHELL HINES & CO.
REAL ESTATE TEAM
www.CallTammy.com
3. START HOUSE HUNTING
4. MAKE AN OFFER
5. STRIKE A DEAL
8. GET A HOME INSPECTION to make
you aware of what might be hiding in the walls or
underneath the floors before you finalize the sale.
If the home inspector finds a major problem, you’ll
be very excited you spent the money to have the
inspection performed. And if not, you’ll be even
more confident in your investment. Finding a good
home inspector is important. We have a list of
accredited home inspectors that we provide to our
clients, or you can check with inspection trade
associations (like the American Society of Home
Inspectors), that require members to abide by certain
standards and a set of ethics.
6. SCHEDULE AN INSPECTION
7. WAIT FOR LENDER APPROVAL
9. KNOW
WHAT
YOU’LL
SIGN
BEFORE CLOSING. You are almost home!
Only a few papers stand between you and the keys.
You might want to request a draft copy of any
documents to preview before the actual closing date.
This will take away the emotional jitters and give
you a little more time to make sense of what you
are signing. If you don’t understand something, then
ask your personal team of professionals to explain
further. Be careful with any numbers that might be on
the forms. A typo could mean trouble down the road.
10. PLAN MOVING DAY WELL IN
ADVANCE. You’ve got this! You have taken
the time to do your homework, look for homes,
analyze your finances, form relationships, sign
documents and now you have the keys. It’s moving
day! All that’s left is packing, moving and enjoying
your new home.
8. CLOSING DAY!
9. TIME TO MOVE!
BUY OR SELL WITH
TAMMY MITCHELL HINES & CO.
AND USE ONE OF OUR THREE
MOVING TRUCKS FOR
FREE!