Make Your Dream of Owning a Reality!
Dreaming of owning your first home? Tired of shoveling out rent for a home or apartment that doesn't feel like yours? Take heart, changing from renter to homeowner may be easier than you think. We are here to help.
Where do you start?
First of all, learn the financing basics. Get pre-approved and become a smart shopper.
When you buy your first home, making monthly payments probably won't be a problem. After all, you're already paying rent to your landlord each month. It's coming up with the lump sum needed for a down-payment that may seem impossible. Fortunately, there are options to make buying your first home a happy reality.
Programs for First Time Home Buyers
Buying a Home with Owner Contracts
Need financial solutions?
Credit or Tax Problems
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Are You Ready For Home Ownership?
Owning a home may be your dream, but in order for the purchase to be the happy and satisfying experience it was meant to be, you need to ensure that in addition to being financially prepared that you are mentally prepared for the responsibilities that come with it.
Questions for Prospective Homeowners
Are you ready to buy?
Owning your own home is about more than just being able to decorate any way you like; it's about being prepared to maintain your home over the years, realizing that part of your income and time will go towards repairs and maintenance. It's about being willing to take the risks of home ownership with a realistic expectation of the rewards.
How much can you afford?
It can be discouraging to find that your salary won't stretch as far as the home you want to own. However, sacrificing a huge part of your income just to pay the mortgage can very quickly make home ownership a burden rather than a point of pride. It's better to buy a modest home now and look at purchasing your "dream home" in a few years.
What is your debt-to-income ratio?
This is something that lenders take very seriously. The preferred situation would be with overall debt not more than 40% of your income, and your housing debt should not be more than 32%. What 32% of your income will buy depends on where you want to live. In some areas here in the NW, it can buy a very comfortable residence and ample acreage.
What do you want?
We Can Help
You need a good agent who will work hard for you. Our real estate team is dedicated to helping you find the right home, at the best price. We want you to find the home that will make you happy and successful in real estate ownership. Choosing a real estate agent to represent you as a buyer is a service that comes at no cost to you, because the seller pays our commission.
When you hire us to help you buy your first home, we want to know what you want and how much you can afford, and if you aren't sure where or how to get the answers to those questions - let us know and we will walk you through it. Then we'll find a way to merge these two priorities and find a residence that you'll enjoy owning.
Keep your objectives in mind when visiting a home. Sometimes the idea of owning a home can overwhelm your practical sense, so keep your feelings in check. Keep a list handy of the features that you need and want in a home, and judge each home by the list instead of by details that could distract you from your goal. When you're alone with your agent, you can go over the pros and cons of each home. We can help you stay on track while still keeping our eyes out for a great property.
Make the offer. This can be a maze of "buyer", "seller", "chattels", "deposit", and "completion". Part of the work we do on your behalf is preparing the paperwork and go through it with you before submitting it. Remember, the seller may reject or counter your offer, so to be safe, try to avoid setting your heart on the home you hope to own. Also, be prepared that you will need to write an earnest money check (deposit) to the either a broker's trust account or escrow that proves the seriousness of your offer.
Get all necessary inspections done. A home inspector will check for signs of harmful materials like asbestos, lead paint and mold. They'll also check for evidence of pests, faulty wiring and leaks. This is a crucial part of the home purchase. Not getting an inspection done means that you could be stuck in a home with expensive problems and no recourse. Inspections typically cost $300-$500, but again, this is more than worth it in the end. There are several inspectors in the area that we'd be happy to recommend.
Do a final walkthrough before closing the deal. Again, as part of the service we provide to our clients, this is something we'd be happy to do to ensure everything agreed upon is completed prior to the final signing.
From the first interview that determines your requirements to the moment that you receive the keys, we can help you with the complicated process of buying a home. Don't hesitate to contact us to find out more about how we can make the home buying process easier!
Contact us for more information about the next steps.