Real Estate Info
253-537- SOLD (7653) l 7718 Portland Ave E I Tacoma, WA 98404
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Save Thousands When You Buy a Home!
Buying a home is a great investment, possibly the largest investment you will ever make, so it seems logical that you would want to invest your money wisely when the time comes to purchase a new home;
First, you want it to meet your needs and desires, and secondly, you want to get the best buy possible. You must have a List of needs as well as a list of desires, but be sure when choosing the actual home that you go with the one that fulfills most of your needs. It is not uncommon for someone to start out with very specific needs and wants but then fall in love with a home offering different features. Ideally a house will come along that has all of your needs and desires, but sometimes that doesn't occur;
1. Be careful not to get caught up in the excitement of home shopping and end up with a home that is not as close to perfect as possible. You should be pre
approved for a loan by a professional mortgage lender
2. By understanding what you can afford, you will not spend time looking for homes that are out of your price range. You also need to understand the various
financial aspects of the sale, from whether to spend more up front or make a smaller down payment and work with a larger loan.
3.There are several costs to consider in the process of buying a home.
4.Your Real Estate Broker can recommend a reputable mortgage lender who has the reputation of providing
excellent service and good rates.
5.Choose your Real Estate Broker wisely. An agent who will show enthusiasm and will want to help you locate
your new home... should have the following attributes;
A. Experience at assisting buyers in locating the best home.
B. Ability to use technology to search the market thoroughly.
C. Ability to review with you comparable home sales in the area.
D. Ability to offer any new homes coming on the market that other agents do not know of.
- Working with a full-time professional Real Estate Broker is a must.
- Choose your Real Estate Broker by asking a lot of questions.
- Find out how knowledgeable they are about properties for sale in your price range.
- Quick break down of houses that have recently sold
- Can your agent recommend a good lender that has a reputation for excellent customer service, low rates and knowledge of all types of loan products that may best suit your needs?
Home Buying Tips:
- Target an Area that you & your family can agree on together; the sooner you realize your ideal location, the sooner your chances are at finding a home that's right for all of you.
- Choose a Lender that will work fast and efficiently; ask your agent who they work best with; most of the time, if you love your agent, you'll love their referral!
- Budget your finances realistically; (what can I afford?); ask yourself honestly & give yourself enough room for unexpected surprises; owning a home is more than just taxes & mortgage payments. Think ahead; 'What if the furnace goes out?"
- Find an Agent that specializes in your target area and has the expierence required to follow through as well as give you the right tools for finding your new home.
- Make a list of wants & needs in your home, listing them from most important to least important, being realistic about your budget and homes current values in the areas you are searching.
- Set aside Time to meet with your agent AND your Lender on a regular basis; make sure you are still on track and that you haven't deviated from your goals and dates to purchase.
- Think about the home structurally and financially; walls can be re-painted; Don't walk away from a great home just because it needs carpet and paint; These things are replacable & if you do it yourself, you'll save considerably and view the cost as trivial!
- Ask for an inspection; it's typically $300-$450 on top of your other expenses, but it may end up saving you tens of thousands; If you can't afford an inspection, you usually can't afford the house!
- Manage your time well; the home buying process can be draining, so don't overwhelm yourself, this is a very important time in your life & should be fun!
- Ask TONS of questions; no question is a BAD question, the more informations you have the better your chances of making good decisions!
- Communicate with your lender regularly; gather any& ALL financial records to make your qualification process faster & easier for everyone.
- Look into Programs where you can find the MONEY & help you get into your home, Government grants, HUD programs, USDA loans; these are options that should be discussed with your lender, but ultimately, if you want a good deal, you should seek it out, the internet is a great tool!
- DO NOT look past problems in the home; just because it has granite doesn't mean it's a great home, especially if the roof is bowing and buckling. Be honest about the home, good & bad, keep a home quality check list.
- Buyers Check List- get Orginized before you Buy! Use this helpful Check List to make notes about each property, keep track of what you do-like and do not like at all!
You have looked at dozens of homes and you have tons of papers piling up on each listing, grabbing ads and flyers, but what about when you go inside and really take a look?
Are all your scribbles and little notes helping you remember everything, or are you just more confused about which home you really loved and which one you didn't like at all?
Use this Check List to evaluate weather or not each home you view is right for you. It helps determine your likes and dislikes and you can rate the home overall. It is a great tool for first time home buyers!
When buying a home it is MOST IMPORTANT to consider your budget! Many people base their home buying budget on; dual income, possible promotion, tax return cushion, and so on.
This is a very dangerous approach when dealing with the realities of your real finacial & budgeting situation.
Some things to ASK YOURSELF when purchasing a home are:
Q. Can I make it 3 months from just savings alone?
A. If the answer is no, you are probably not prepared to buy a home at this time. Build your savings so you can keep your home incase of economic hardships, consider this amount AFTER a downpayment? Are you really ready?
Q. Am I in any type of credit card debt?
A. If the answer is yes then you need to wait, pay off your credit card debt and save. If you have any credit debt this shows that you are not ready to take on any more debt, especially $300,000.00 or more!
Q. What if my spouse loses his/her job?
A. If you are budgeting your home on a dual income situation, consider the 'bread winner' in the house has been injured or has been terminated unexpectedly, will you still be able to make your mortgage? If not, then consider budgeting for a lower amount that is workable in the case of such hardships.NEVER OVER BUDGET!
Use this Affordability Calculator to see what
you can really afford.
Buyer IQ Quiz
See how ready you truly ready you are to be a home owner!
These are fun questions, there is no need to give personal info, it's just for you to know where you
stand and what you need to work on as far as your home buying knowledge and what you need to know.