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Tips
Is Homeownership Right for You?
The answer depends on your financial situation, your future plans, and what you hope to do for yourself and your family by buying and owning a home.
Let's start with your financial situation. Ask yourself the following questions:
- Do you have a steady, reliable source of income and a steady employment history for at least three years?
- Do you have a good credit history and understand how to manage your credit?
- Is your total debt manageable? Can you pay all your bills on time and still afford to take on the costs associated with homeownership?
- Can you save money for a down payment and closing costs or you have access to other sources of funds, such as an employment bonus, tax refund, or a gift from a relative?
- Do you have adequate savings to weather an unexpected loss of income or an emergency?
Next consider your future plans. Can you balance the costs of owning and maintaining a home (like repairs and maintenance) against other major expenses, such as buying a car, taking a vacation, saving for college or raising a family? Use these worksheets to better understand the costs of homeownership that begin after you move in.
Now that you’ve looked at your financial situation and the costs of owning a home, consider how much you can afford to spend buying a house as well as the risks and rewards of becoming a homeowner.
Home Buying Tips
Follow our six step home buying guide: a roadmap that takes the first time home buyer from "how much can you afford" to "Buying the home and moving in."
US Department of Housing and Urban Development
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Buying a Home |
| The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home! |
New Home Owner Purchasing and moving into a new home is a very exciting time in your life and we are pleased to share it with you. We have prepared this site as a companion to our publication New Homeowner, A Guide To Your New Home.
First Time Home Buyer Tips Being a first time home buyer is intimidating and a big life experience. First time home buyers often don't know where to begin. We can help. |
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The real estate market in most of the country is in a buyer's market. You need all the help you can get when competing against other homes for sale. First impressions are lasting impressions so it is vitally important that buyer’s feel “at home” when they first walk into your home. Staging your home is necessary when it comes to selling your home. Your house is probably decorated or furnished in your own taste and style. It's those personal items surrounding you that makes it home. Our home is typically our pride and joy and a place that showcases who we are and what we like.
Eliminating Clutter is the first step. The home should no longer reflect you or your family completely. You must put your home in magazine show room condition. You can no longer view rooms as your own, but a place that prospective buyers will be able to call home. Make it Neutral to all that enter and simple enough to be able to imagine adding your own touch. Emphasizing the Positives and Downplaying the Negatives.
Clean the outside. The yard and bushes should neat and trimed. Imagine taking a photo of the outside of your home and sending it in to homes magazine. Is it ready for this? Trim all bushes to showcase the windows and design of the home. Just like a haircut, you want to trim landscaping to add to the view and bring out the home’s best features. Decks, porches and driveways should be clear of any personal items including toys, gardening supplies, bikes, grills, etc.
Staging sets the scene throughout the house to create immediate buyer interest in your property. This will then lead to your home selling for the highest possible price in today's real estate market. |
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An open house is a great way to create some hype around a property, as you have numerous clients coming in all throughout the day. Sometimes all it takes is the knowledge of a little competition for an offer, or more, to suddenly appear on the table. It's also a great way to attract impulse buyers- those who will see a place once, fall in love and make an offer right then and there.
But in order to achieve a successful open house, certain bases need to be covered, and then some. First off, make sure you choose a winner of day for your open house. If you could control the weather, you might ask that it wasn't the first sunny day in weeks on the day of your open house, but seeing as certain things are out of your control, stick to the things you can influence. Sunday afternoons, are the very best days for open houses as the majority of folks serious about looking will have this time off. As this is when most sellers host their open houses, home buyers will generally commit this day to open house tours.
Make sure you've got the word out there, and in advance. A well advertised open house will attract that many more interested clients. Mail post cards, and invite neighbors. Have a sign on the front lawn on, with the details of the open house, and pamphlets with some features photos of the property. Details of the open house should be advance listed in your local newspaper and on our website.
You'd be surprised how many people discover information on open houses on their own, go to them, and then, if they like what they see, they'll set up a private viewing with their agent. With the internet, and so much more information available at the tip of our fingertips, people are more inclined to do their own investigating first. Open houses are a great way to take advantage of this consumer behavior.
Your realtor should be present at the open house and should have a station set up with a feature brochure and any other pertinent information about the area/neighborhood/town. It's nice to have these other informational packages, in the case that the buyers don't really know that much about the town/city/neighborhood.
From a sellers perspective there are details to attend to. Make sure you've thoroughly cleaned, so that the home is sparkling and looking its best. De-clutter and de-personalize your home as if it were a show home. Make sure you take full advantage of whatever natural light you have in your home. Remove old curtains, or open them up. And, if your home needs more light, then, by all means light it up with extra fixtures or brighter bulbs. Clean the outside of your home and leverage your curb appeal. If you have pets, it's best to re-locate them, all their hair, food, and toys for the open house. Some folks are very put off by animals- you wouldn't want to risk a potential sale because "Fluffy" kept trying to sit on client x's lap.
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