Buyers

Buyers

Whether you’re a first-time home buyer or a seasoned real estate investor, buying a home is an exciting process. There are many things to consider when you decide to buy.
Before you begin your search for the perfect residential or commercial property, here are four questions you should ask yourself.

 

What do I want?
Take the time to figure out what type of property you want to buy. From single-family and multi-family homes to condos and co-ops, there are many different options on the market and it’s important to choose the type that best fits your needs.

Deciding on the town or neighborhood you want to live in is equally important. While a property might have all the amenities you’re looking for, factors like proximity to highways and quality of schools can impact the overall home-owning experience.

We recommend making a prioritized list of what is important to you so you use your time productively.

Here are some common considerations:

  • Large back yard (or small)
  • Double or single lot
  • Garage or street parking
  • Low or no maintenance living space (condo or co-op)
  • Underground parking or parking lot
  • Great school system
  • Ease of access to highways or public transportation
  • City living with a park nearby
  • City living on a quiet street or Cul-De-Sac.
  • Country living with either a lake or a wide view of the sky
  • Proximity of shopping (mall or groceries)
  • A church consistent with your faith

Taking the time to make a list helps Empowerment Realty Group professionals help you find the home of your dreams.
We will use your list to ensure we focus on what you want.

Call us today to get the process started. 

What can I afford?
Determining how much you can afford to spend on a home is a matter of personal choice.
The general rule is that you should not spend more than 30% of your monthly income on mortgage payments.
An alternate rule states that you can afford to buy a property that’s about two-and-a-half times your annual salary.
For a more tailored look at what you can afford, use the mortgage calculator on our home page to get an idea of what your monthly mortgage payments would be if you bought a home today.

Am I financially prepared?
A few months before you start searching for a home, review your credit history and make sure it is in good standing. The top three most used by mortgage and credit card lenders are Equifax, Experian and TransUnion. Check your credit score directly on their websites. Your bank or credit card company may also offer free credit scores.
Get a copy of your credit report from the top three, ensure it is accurate and fix any errors before applying for a pre-approved mortgage.
Getting pre-approved for a home loan accelerates the process when making an offer on a new home. Sellers are more confident in your offer and will consider it ahead of other potential buyers that haven’t been pre-approved for a loan when you are ready to make an offer on the property that is right for you.

Pre-approval from a lender is based on your credit history, debt level and income. Having a pre-approval helps you identify homes that fit your price range and saves you time.

Call us today to make an appointment to list your home.

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