When buying a home, knowing what to expect can take the guesswork out of the process. Below are some highlights and tips on making your purchase smoother.

                                                      The Path to Homeownership:

Step 1. Saving for a DOWN PAYMENT : Figuring out how much money you’ll need upfront is a key first step in purchasing your home. A down payment simply put, is the cash you pay upfront when you’re buying a home. This payment represents a portion of the purchase price, and buyers typically take out a mortgage loan to finance the remaining amount.

Step 2.  MORTGAGE PRE-APPROVAL :  A pre-approval means that a lender is prepared to offer you a mortgage.  This letter from the lender will state how much money you can borrow. Most sellers will require a pre-approval letter before they accept an offer. 

Step 3. Finding a REAL ESTATE AGENT:  The right real estate agent will help you find great properties within your price range and offer insights and expertise regarding market conditions. They will present offers  and negotiate on your behalf.  Your agent is a true partner throughout the entire process, working on your behalf to get you the best house at the best terms.

When you’re in the market to purchase a home, don’t forget other key elements to consider. Housing expense ratio for example. This is a calculation used by mortgage lenders to determine what percentage of your income you’ll need to cover housing costs.  These include expenses such as monthly mortgage payments, interest, taxes and insurance.  Other expenses to the buyer will include paying for a home inspection. Lenders do not require this as a condition to the loan, but it gives you, the buyer, a good piece of mind, as it evaluates the current condition of the property you’d like to buy. It’s an important step that can help prevent unwanted surprises.

The right property can make a big difference to the way you view homeownership and your life as a homeowner. Planning your budget carefully, knowing what to look for, and having the right partner in your corner can make the home buying process easier. 

Contact me when you're ready, I'd love to be your partner in your home buying endeavor.