Prequalify for a loan
Being prequalified for a loan determines how much house you can
afford. It also allows you to move more swiftly when you find
the right house, especially when you aren't the only interested
buyer.
Shop for mortgage
rates and terms
A difference of even half a percentage point can make a huge
difference in how much you pay over the life of a loan. For
example, the difference in the monthly payment on a $100,000
mortgage at 8 percent vs. 7.5 percent is about $35 per month.
Over 30 years, that's $12,600.
Using a buyer agent
A buyer agent is legally responsible for representing the
buyer's interest in a real estate transaction. Generally, the
buyer agent is compensated by the seller at the time you
purchase a new home. There are some limitations to using a buyer
agent, however. Before you decide, have a Realtor explain the
advantages and disadvantages of using a buyer agent.
Contact us
for more information.
Features that help or
hurt resale value
In some areas, a swimming pool actually detracts from a home's
value and makes the home harder to sell. In neighborhoods with
two-car, attached garages, a single-car or detached garage may
impact the home sale and future value. Your
Realtor can
point out features that hurt, as well as those that help, resale
value.
Rate the houses you
tour
After touring each home, write down what you liked and didn't
like. Develop a rating system which will help you narrow the
field down to the house that's the best for you.
|