REAL ESTATE SPECIAL SECTION
Maybe you find a lovely home, but come to learn it’ s next to a busy freeway or shopping center. Never stray from the sentiment that seeing is believing!
5. Be patient; it’ s a process.
Unfortunately, you’ re not the only buyers in the market. Many are looking for similar offerings in a home. You may lose out on what you think is the perfect home, but keep your head up! Something just as good, if not better, will come along— because where there are buyers, there are sure to be more sellers!
Whether you’ re looking to buy or to sell, there are hundreds of resources available to you and your family. Start smart by doing your research. Is now the time to put your home on the market? What’ s the buyers market like this season? Don’ t rush to make a decision just because spring is here. Homes are bought and sold throughout the year, so make sure the time is right. As a first step, review your finances. If you’ re on the right track to having a good bit saved, you’ re probably ready to start your must-have / wish lists. Reach out to a real estate agent to help you get acquainted with the communities you have in mind and the neighborhoods you can afford. If you’ ve been talking about moving, take a look at your home. Do you have repairs to make before putting your home on the market? You’ ll want to make any small upgrades, declutter and rearrange rooms prior to taking pictures of your home to show potential buyers.
What First-Time Homebuyers Should Know
Last year was a great year for new homebuyers. According to the National Association of Realtors, about 35 percent of the homebuying market was made up of first-time buyers. Yet, each year is not created equally in the mortgage industry and real estate market. Changes happen frequently and it is often hard to keep up. If you’ re looking to break into real estate for the first time, here are some insights into how to navigate the market.
SAVING.
Step number one for a first-time homebuyer should always be saving. Take a look at your current finances. It’ s recommended that your mortgage payment not exceed 30 percent of your gross monthly income. See where you can cut back spending to put away a little extra out of your paycheck every month for your new home. Not only can this cash go toward a down payment, but most likely you’ ll need furniture, appliances, and decorations to furnish your new home. Don’ t just calculate the amount of money needed for a down payment. Keep in mind the unforeseen expenses such as home repairs, agent fees and closing costs. You can never save too much!
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