Buyers Services
Thoughts of Buying a New Home
Are you thinking of buying a home? Well, what are you waiting for? Let's work together to start planning your future. I would like to help you do what I do best -- find the perfect home for you. Here are a couple of questions you might think about before we meet.
Are you ready to buy a home? Some factors to consider when preparing to buy a home are whether or not you have a steady source of income and if you have been employed on a regular basis for the last few years. Also, determine how much money you have saved for a down payment and what would be a realistic amount of money that you could spend on a mortgage each month. There are additional expenses such as closing costs, taxes, insurance and home owners' association fees that we should calculated as well. I can help you do this. Let's schedule a meeting.
We should investigate the maximum loan amount that you would be able to afford in order to establish the price range of houses to consider. Lenders calculate your debt-to-income ratio, which is a comparison of your expenses to your gross (pre-tax) income. Monthly mortgage payments should total no more than 29% of your gross income, while the mortgage payment, combined with other long-term debts (such as car payments) should not exceed 41% of your gross income. The lender will also take into consideration your credit history and cash available for a down payment when determining your maximum loan amount.
Once we have agreed on the price range of homes to look at, next we should discuss your needs. Think about where you would like to live and how much space you would like to have. I suggest driving through neighborhoods you are considering and attend local open houses to get an idea of what you want. When deciding on possible locations, think about distance to your job, schools, family, etc. It's best to make a list of your priorities, such as location, size, and amenities. Determine the minimum requirements that the house must have for you to consider it as well as a wish list of perks you would like it to have.
I am dedicated to meeting your needs and the more information you can share with me, the better I can serve you. Please contact me to schedule an appointment so we can discuss more about your dream home. (contact me)
As Your Buyer's Agent:
- Represent you, the buyer
- I will have a fiduciary responsibility to work for your best interest
- I will prepare an offer that will meet your needs and provide a solid basis for negotiating with the seller.
Buyers Resources
- Videos, tools, and valuable information to help you through the buying process.
- My office offers area-wide multiple listing information that shows thousands of broker-listed homes for sale, regardless of the seller's agent.
- I can help you "visit" many of these homes online or on paper
- I will show you the properties that meet your criteria
- You can ask me about any properties that are advertised, no matter who the broker is
- I will provide you with detailed information and show you the homes that interest you
As your buying agent, I will share my evaluation of the homes we see, including factors that may affect their value.
Renting Versus Buying
When deciding whether or not to buy a home for the first time, it is essential to compare the benefits of buying versus renting. Renting provides the liberty to move when the lease expires rather than having to wait until you sell your home. On the other hand, landlords can also decide to end your lease, and then you are forced to move. Renting allows you to avoid the cost of maintaining the property and requires less cash up front; however, home owners have the freedom to remodel as they choose and can deduct the cost of home repairs from their taxes. Also, renting throws away money that could be building equity.
When you own your home, your monthly mortgage payment not only pays for you to live in the house but is also an investment. Although you generally invest 10% percent of your own money and 90% of the bank's money, you receive the benefit of 100% of the house appreciating each year. When you sell your house, you receive money that you would not have received when you are renting. Plus, you can deduct items on your taxes, including interest on your mortgage and property taxes. Another great tax benefit is that you do not pay taxes on any profit you make from the sale of your home. Provided that you choose a fixed rate mortgage, you lock in a consistent payment, while renters should expect a few rent increases over the years.
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