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Prudential Fox & Roach
National Assn of Realtors
 
 
   
  Buying a new home can be very exciting, especially if it's your first home.
Of course, early on you may feel uncertain as to whether you can actually
afford the purchase, wonder how you will navigate the red tape and paperwork
associated with buying a new home, and whether the community you are choosing
will be the right one for you and your family.

DON'T let these concerns discourage you from investing in your future. With the help of a
good REALTOR®, the process will be "painless" and you can walk away from the experience feeling confident you've made the right decision!
      
    
BEFORE YOU BUY...
 
There are a few things you should keep in mind prior to buying a new home or refinancing:
 
· Experts suggest you should refrain from making any large purchases such as cars, leisure vehicles (boats, motorcycles, etc), or taking expensive vacations prior to applying for a mortgage or refinancing your home.
   
· Keep your bank accounts straight. Try to avoid any overdraft fees and if possible, don't move money between accounts.
   
· Be prepared... obtain a copy of your credit report and take care of any outstanding debts or resolve any issues that may appear. There is nothing worse than being blindsided by a derogatory claim made on your report. Take the time to read your report and seek help and advice on correcting any problems that appear.
   
· Don't make any major changes in your lifestyle. Job security and/or a stable career make you a more desirable borrower.
   
THE "RIGHT" HOME...
 
Although everyone has a different set of priorities, there are certain factors to be strongly considered besides the obvious (size, price, value) when looking for the "right" home:
   
· Location/Surrounding Community - Look into active community organizations, parks and recreation to find out if what they have to offer is sufficient, AND whether you will feel happy and comfortable in those surroundings. Also visit some of the local community centers, stores and other places of business for a true sense of community!
   
· Schools - School statistics and reports say a lot about the local government and the standards set. There are numerous organizations who provide free information regarding school systems nationwide... visit our "School Resources" page for info.
   
· Taxes - Property taxes are not generally a deciding factor but in some cases they could make the difference in affordability. Do a little research on the local taxes and the relationship between taxes and the local economy.
   
Now you're ready to begin your search for the perfect home. Your first step is likely to be choosing a REALTOR®. Of course, your real estate agent should be experienced and professional but also a dedicated individual who has your best interest in mind. Communication is important and you'll be able to tell (quickly) whether your agent is likely to remain fully committed to helping you through the process.
   
· Scheduling appointments - Make the most of your time. Schedule more than one visit in an afternoon and take "copious" notes of the pros and cons.
   
· While inspecting a property, watch for subtle as well as obvious signs of problems such as water damage, roof leaks, electrical wear and of course, structural "issues". There is a "plethora" of great (free) online information and advice to help you through the inspection process. You might try "How to Inspect a Home Before Buying" (link is provided above, left menu).
   
· NEVER be afraid to ask questions... It's always better to make an educated decision!
   
NEGOTIATIONS...
 
Once you've narrowed down your choices to a single house, your next move will be to prepare an "Offer to Purchase". Your real estate agent will provide advice and the information you'll need to help bring you to an agreement.

Factors that come into play at this point are: Length of time the house has been on the market, sales of other homes in the area, and urgency on either the buyers or sellers part.
   
Once an agreement is reached, the many dates and details can seem overwhelming. Your REALTOR® will guide you through the closing process and work closely with your Attorney or Title Company to assure a seamless settlement on your new home.

There are many different mortgage loan products available. A well qualified loan officer can help you determine which financing options best fit your current and future needs. We've provided a link (above - See "Mortgage Info") to The Trident Group, our mortgage information specialist, who will put you on the path to financing your new home.

And finally, make sure you set aside plenty of time for "settlement" but keep the end result in mind. This time is well-spent since you are NOW the owner of a beautiful new home... your DREAM home!  Enjoy!!
 
Page ( 2 ): Selling a Home »    
 
 
 
 
Services
 
Visit our "Relocation Resources" page for information on a number of services to help you get started in your new home!

You'll find everything from moving companies to carpet cleaning. Click on "Relocation Resources" above or click below to go to the Prudential Fox & Roach "HomEssentials" page.
 
GO THERE NOW!
 
 
Useful Reading:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
  Updated: February 07, 2007
 
 
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