Buying a home is not only the American dream, but the biggest purchase most people will ever make. For some home buyers, anything related to real estate can feel like a terribly confusing process as well. Thankfully, a good Realtor should be able to make the process simple and seamless, even for 1st Time Homebuyers. Here are 5 simple steps to get you started:
Speak to a Lender- Even if you have no idea how a mortgage works, what you can afford or what your home buying timeline looks like, you should start by speaking with a qualified mortgage professional. Not sure which lender to speak with? Ask your Realtor for 3 -4 names of lenders to speak with that his/her past clients have been satisfied with. Then make the call! After a 5-10 minute phone call, a lender will collect enough information from you to pull your credit (and give your credit score), calculate your debt ratios, and figure out what you can most likely afford in regards to a mortgage amount, purchase price, and down payment for closing. All the things you want to be armed with before shopping for a home!
Know Your Budget- Just because the lender says you are ‘pre-approved’ or qualified for a certain mortgage amount, remember this is usually a ‘Maximum’ amount. It does not mean that’s what you have to/need to spend. Make a realistic list of your monthly expenses; know what you can save for a down payment if you don’t already have it. Be sure that once you buy a home that there will be room to save money for occasional maintenance costs or emergency repairs. When you look at a potential mortgage payment, if there is no room for savings or basic monthly expenses, you’ll want to decrease you home-buying budget.
Talk to Your Realtor- Once you know how much house you can afford, have an honest and frank conversation with your Realtor about it. If the lender approves you for a $200,000 mortgage, but you know you are only comfortable with making a payment on a $150,000 mortgage, let your Realtor know up front so no time is wasted looking at homes that might not actually work for you. If you aren’t sure which Realtor to use, talk to friends and family about who they might have used or check Google and Zillow Reviews to find one that seems knowledgeable about the specific area you’re shopping in. Looking for Real estate in Pinellas County? Then find an agent that works in Pinellas County. Same goes for any other area. Just crossing the bridge over to Tampa and Hillsborough County can dramatically change the real estate market a Realtor works in. Find one that has the right experience.
Make a List of Home Buying Needs- Sit down and make a list of what you do and don’t like about your current home. Then add in any other needs such as more storage, larger garage, an extra guest bedroom, double pane windows, etc. Be sure to give these items to your Realtor so he/she can target the best homes for you, again saving time in your real estate search.
Then Make a List of Wants- Are there some perks that would be nice to have? Be sure to make a list of those too for your Realtor. If fresh paint or stainless appliances would be nice, but are not a true ‘need’ those items might become negotiating points with the seller when your agent makes an offer on a home for you.
Once you’ve done the 5 things above, let your real estate agent handle the rest. Their job is to help you search for homes, go over the purchase agreement (also referred to as a ‘contract’), and help you put together a realistic offer. A great Realtor will always answer any questions you have or be able to refer to the appropriate specialist.
Author:Gabriele Spinuso Phone: 727-688-1932 Dated: February 6th 2017 Views: 315 About Gabriele: Gabe has been a resident of Seminole and the surrounding Gulf Beaches his entire life. He is a licen...
About Sandy Hartmann & Associates Real Estate Team of Tampa Bay FL
Sandy Hartmann & Associates Real Estate Team, your Tampa Bay Real Estate source, has been helping home buyers and home sellers in Tampa Bay, FL since 1979. We deliver a brand of real estate services based on integrity and years of expertise that is unmatched. We are the #1 Keller Williams Real Estate Team in Tampa Bay and we are ranked in the top 1% of Realtors Nationwide. In 2017, we sold over 69 million dollars in homes!
Selling a Home? We use some of the most cutting edge global marketing technology available to get homes sold fast, for top dollar in the Tampa Bay area. As a Keller Williams Luxury Real Estate Agent and as a Global Property Specialist, your home listing will appear on real estate websites in not just the United States, but around the world, in multiple languages. That's right, GLOBAL EXPOSURE.
Buying a Home? 1st Time Home Buyer? Looking for an Investment Property? Sandy Hartmann & Associates will help you find the perfect home for sale at the best price, while easing your anxiety and guiding you to a successful home purchase.
Our real estate team was founded with the vision of becoming the real estate team of choice in Pinellas County & Tampa Bay, FL. That means always putting our customer's needs first, and having the integrity to do the right thing, every time. Come find out why Sandy Hartmann and Associates is the #1 Real Estate Team in the City of Seminole, #1 in the City of Largo, and the #1 Keller Williams Team in Tampa Bay.
It's quite a legacy. One we are proud to be a part of.
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JUST LISTED FOR SALE IN SEMINOLE, FL BY SANDY HARTMANN & ASSOCIAT
"“My husband and I were very impressed with the expertise and responsiveness of our listing agent, Danielle Lower. She went out of her way to help us through the selling process, from arranging the meetings with the contractors, to working with the home stagers. She is very patient and very professional. After a month of working with her, we got to meet the whole Sandy Hartman team. We are very impressed. We've never worked with such a professional real estate office like that before. Everything is well coordinated. We also appreciated the work of the back office team, very polite & courteous. We sold our dear house in Madeira Beach and then bought another house through our dedicated and trustworthy agent, Danielle Lower. We intend to continue working with her for our future real estate transactions.” "