PREPARING TO BUY YOUR HOME
A little preparation is worth a lot – here are a few things that will help to make your purchase a breeze:
Prequalify for a loan:
When you prequalify for a loan it determines how much you can afford. This can really move things along when you are ready to make an offer, especially if you aren’t the only interested buyer.
Shop around for rates and terms:
Even a difference of half a percentage point can make a big difference in how much you pay over the life of your loan. Based on a loan for $100,000, the difference of 8 vs. 7.5 percent is about $35 a month and about $12,600 over 30 years.
What a Buyer’s Agent can do for you:
A buyer’s agent has your best interest in mind. They are legally responsible to represent the buyer’s interest in a real estate transaction. Usually, the seller compensates the buyer’s agent at the time of purchase. Have a REALTOR® explain the advantages of having a buyer’s agent help you in your search.
Features that help or hinder:
Sometimes in an area a feature can help or hinder the resale. For example in some neighborhoods a swimming pool actually detracts from the value of a home and makes it harder to sell. Same with garages – in an area where there are generally two car-attached garages, a single or detached garage may impact the sale and future value. Ask your REALTOR® for advice on these issues.
Score the homes you tour:
After you tour a home write down your likes and dislikes. Make up a rating system that will help you narrow down the homes you view otherwise they may all run together.
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Please feel free to print this sheet when viewing properties... |
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PROPERTY MEMO |
Use this comparison chart to remember the properties that most appeal to you… |
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Property #1 |
Property #2 |
Property #3 |
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Address |
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Square Footage |
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Bedrooms |
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Bathrooms |
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Kitchen |
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Dining Room |
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Breakfast Space |
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Living Room |
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Family Room |
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Den |
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Garage |
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Storage |
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Patio/Deck |
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Decorating |
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Lot Size |
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Landscaping |
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Amenities |
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Average Utilities |
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Neighborhood |
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School System |
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Travel to Work |
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Shopping |
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Recreation |
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Taxes |
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Asking Price |
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