Congratulations! You've decided to purchase a home, or are thinking about buying one. You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family. When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours. Over time, your home will increase in value.
Please contact us if you have any questions about buying a home in Paso Robles or elsewhere in California. There are also FREE NEWSLETTERS available at the bottom of this page that may help you.
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Whether you've spent years saving and preparing to buy a home, or are unsure if you can afford it, the questions surrounding a house purchase can feel endless.
You can find the answers - and peace of mind - by working with Ed Steinbeck @ RE/MAX Parkside Real Estate, the industry leader in experience and service.
- Hire a real estate professional.
An important first step is selecting a professional Realtor® to help you find your dream home and fine-tune your financial expectations. Working with a buyers agent is worth consideration because he or she is legally responsible for representing the buyers interest in a real estate transaction. Before making a decision, however, have a Realtor® explain the pros and cons of using a buyers agent versus a sales or dual agent. Your RE/MAX Associate can guide you through every step of buying a home.
- Shop for mortgage rates and terms.
A difference of even half a percentage point can mean a considerable savings over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.
- Prequalify for a loan.
Also early on, you'll want to get prequalified for a mortgage loan, which determines how much you can afford. It allows you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and can afford to buy the property.
- Outline what you want.
The next step is to create a realistic idea of the property you'd like to buy. What features are most important to you? Make two lists: one of the items you can't live without and one of the features you would enjoy. Refine the lists as you house hunt. It is also helpful to search onlineto see what is currently available on the market. Your real estate professional can then show you houses that meet your expectations.
- Visit properties.
Now youre ready to visit houses. Askyour RE/MAX Associate to arrange showings, and be sure to keep track of the properties youve seen. Each time you venture out to see more properties, revisit your notes to immediately eliminate any that clearly do not meet your standards.
- Rate the houses you tour.
After touring each home, write down what you liked and didnt like. Develop a rating system that will help narrow the field. For example, pick the house you like best on day one and compare all other houses to it. When you find a better one, use the new favorite as the standard. Avoid trying to track more than four top choices at any given time since this can quickly become overwhelming.
- Make an offer.
Once youve pinpointed your dream house, its time to get serious about the financial and contractual side of the purchase. Letyour RE/MAX Associate guide you through this sensitive process. Because you and the seller have different goals, rely on your RE/MAX agents experience and expertise can bring order and calm to the process and help both parties reach a favorable outcome.
- Arrange for a home inspection.
After your offer is accepted, set up a home inspection. It's common to find problems, including leaky roofs, cracked walls, insect infestations and foundation problems. Your real estate professional can help find a reputable inspector, and will negotiate to get you the most for your money once the inspector's report is final. If you negotiate repairs as part of the purchase, ask for a "walk through" before finalizing the paperwork. Ask your real estate expert about home protection plans, which may save you money in the near future.
Before your closing date, make sure youve made all necessary deposits and completed the paperwork including mortgage, title, homeowners insurance and any other paperwork required by local or state governments. Your RE/MAX agent will be there to help you complete that closing checklist and avoid any last-minute snags. You deserve to enjoy every moment of the homebuying process.
- Prepare for life in your new home.
Before rolling out the welcome mat, consider some moving basics: arranging for an alarm company, turning on electricity, water and gas, cleaning or replacing the carpet, and notifying your local post office of your new address. The best time for renovations is often before you move in.
Purchasing Multi-Family / Vacant Land / Rentals - Please contact me at EdSteinbeck.com with your questions, to schedule an interview with us, or to set appointments to view property.