Buying a Home

Buying a home...should be fun, not stressful.  

As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

Find a real estate agent who you connect with.  

Home buying is not only a big financial commitment, but also an emotional one.  

It is critical that the REALTOR you choose is both highly skilled and a good fit for your personality.

Remember there’s no “right” time to buy, just as there’s no perfect time to sell.  

If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer—you risk losing out on the home of your dreams.  

The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.

Don’t ask too many opinions.  

It’s natural to want reassurance for such a big, decision, but, too many ideas from too many people will make it much harder to make a decision.  

Focus on the wants and needs of your immediate family—the people who will be using the home most.  

Accept that no house is ever perfect.  

If it’s the right location, the yard may be a bit smaller than you had hoped.  

The kitchen may be perfect, but the roof needs repair.  

Make a list of your tip priorities and focus in on things that are most important to you.  

Let the minor ones go.  

Don’t try to be a killer negotiator.  

Negotiation is definitely a part of the real estate process.  

Keep in mind that the most effective negotiation creates a “win-win” result.  

Playing “hardball” or trying to “win” the negotiation at the others expense may cost you the home you love.  

Negotiation is a give and take.  

Remember your home doesn’t exist in a vacuum.  

Don’t get so caught up in the physical aspects of the house itself –room size, kitchen, etc.—that you forget about important issues as noise level, location to amenities , and other aspects that also have a big impact on your quality of life.

Plan ahead.  

Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for closing.  

Accept that a little buy’s remorse is inevitable and will probably pass.  

Buying a home is a big financial commitment.  It also yields big benefits.  Don’t loss sight of why you wanted to buy a home and what made you fall in love with the property you purchased!  

Common closing cost for the buyer.

You’ll likely be responsible for a variety of fees and expenses that you and the Seller will have to pay at the time of closing.  Your lender must provide a good-faith estimate of all settlement costs.  The title company of other entity conduction the closing will tell you the required amount for:

• Down payment
• Loan Origination –typically 1% of the purchase price
• Points, or loan discount fees, which you pay to receive a lower rate
• Home inspection
• Appraisal
• Credit report
• Private mortgage insurance premium
• Insurance escrow for homeowner’s insurance
• Property tax escrow
• Deed recording 
• Title insurance policy premiums
• Land survey
• Notary fees
• Proration's of your share of costs, such as utility bills