Kathy Craig's Blog
If you have been looking for homes online for some time, you may be tired of viewing them on a screen. While online home searches are helpful and a perfect starting point for finding a home, you need to see a home to get a feel for it. Whether you are attending open houses or have set up private showings with your real estate agent, there are certain things that you can do to make the most of touring potential homes. You only have a limited amount of time to see a home. Your agent won’t wait around for you all day while you explore every nook of a house and people still live in the house. There’s a good chance someone may need to come back in at some point! Read on for tips on how to use your time and resources wisely when it comes to searching for a home to buy.
Don’t Waste Time
First, you should select the right homes to view. Don’t waste your time looking at properties that you can’t afford or aren’t the right size for you. From your online search, make a list of properties you’d like to see in person. You can narrow down your search quickly by doing the following:
Carefully read property details
Check out the photos of the home in detail
Find out from your realtor if there are any comparable properties for sale
Know What You Can Afford
If you can’t afford a property, don’t waste your time looking at it. Be realistic in your home search, finding the properties that will suit your needs and your budget. Remember that many factors go into a listing price for a home including the location, the size of the house, the neighborhood, the amenities, and more. The bottom line is to stick with homes that fall in your budget to make your search much more manageable.
Work With Your Realtor To Schedule Home Showings
Make use of your agent. They can schedule private showings for you or alert you to upcoming open houses. You can send your agent a handful of listings that you’re interested in, and they can make a schedule for you to maximize your time seeing properties in specific locations.
Hiring a real estate agent is an essential step in buying a home. They can help you to find and view the properties that could potentially come your next home.
185 Burlingame Rd, Charlton, MA 01507
Buying a new home is a big decision and one that many wonder if they are truly ready for.
Use this guide to determine if you are ready to start house hunting:
Thirty percent of your income can cover a mortgage payment for your ideal home
The ability to afford month to month payments is incredibly important. Staying within the recommended percentages when it comes to budgeting helps you failsafe your finances from potential future hardship. At the very least you want your mortgage payment to be as close as possible to the thirty percent marker of your income.
You’re in a secure job.
In addition to having an income that can sufficiently support the month to month payments you also want to ensure that that income is a reliable source. Signs of a reliable income are that you have been with your current company for longer than two years with several months at the same pay rate.
You have a great credit score
This one shouldn’t come as any surprise to you. A great credit score will not just increase your eligibility for financing but also for a great interest rate. If your score falls in the “good” region you can take steps to bring up your score fairly quickly, as far as scores go, before applying.
You have a down payment saved up
A down payment is a big savings goal to tackle. So if you’ve already done the math and saved up a sizeable sum for the downpayment on your dream house you are most certainly ready! Ideally, this amount should be around twenty percent of the sale price.
You’ve prepared a prospective budget
If you already have a down payment saved you at the very least have part of this step taken care of! Knowing your future homeowners budget doesn’t just include your typical expenses plus a mortgage payment. You also want to factor in homeowners insurance, potential HOA (Homeowner Association) fees, and maintenance costs.
You’re ready to build equity - or it’s your next financial goal
For those scratching their heads, equity is the amount of your home that you actually own. This is the ratio between your homes value, the amount you have paid and the amount you owe. As you continue to make payments on your home your equity grows. Equity can also increase if the value of your property increases.
You’re ready for stability
If you’re ready to settle down in one place for at least the next five years you’re looking for stability. Perhaps you’re ready to put down some roots and start a family or become a part of a local community. Owning your own home provides you a steady living expense, builds equity and gives you (almost) complete control of your lifestyle.
138 Yew Street, Douglas, MA 01516