Are You Ready to Buy A Home?

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 you are financially and mentally prepared for the responsibilities that come with it.

While it may be acceptable to snap up a pair of shoes on an impulse, the choice to buy a home requires thoughtful planning and decision-making.

Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a home is a financial and emotional decision that requires the experience and support of a reliable professional. I’m here to help you every step of the way.

 

Why do you want to buy a home?

The emotional part of the decision comes into play when you think about why you want to move. I know first hand myself what it was like when I decided to buy a home. If you’re a first-time buyer, you need stability in your career and the desire to commit to living in the same community for five to seven years. You should want to establish roots in a neighborhood and look forward to decorating as you please without requiring a landlord’s permission.

Purchasing a home is a lifestyle choice that requires you to think about how you like to spend your time and the type of community where you want to live—such as a rural area without nearby neighbors, a high-rise building in a city or a home within a planned community with recreational amenities.

The more you understand your priorities for a home, the easier it will be for you to narrow your real estate decisions.

Homeownership can also be a powerful way to increase your personal wealth for you and your family, since you’ll be building equity in your home as you pay off your mortgage.

 

Are your finances ready for homeownership?

While your dream home may not be within your reach right away, you can take steps to become a homeowner the moment you earn your first paycheck.

In order to qualify for a mortgage to buy a home, you’ll need good credit, a pattern of paying your bills on time while still saving money and a maximum debt-to-income ratio—your gross monthly income compared to the minimum payments on all recurring debts—of 43% or less. Some lenders have stricter guidelines, so the lower your debt-to-income ratio, the better your chances of a loan approval.

While loan programs are available with low down payments of 3.5% to 5%—and a few programs offer no down payment at all—you’ll still need some savings to pay for closing costs, moving expenses and an earnest money deposit on a home. It also is very wise to have cash reserves on hand after you buy.

Saving money and preserving or improving your credit history are essential elements to homeownership.

 

I Can Help 

I’m going to work hard for you and are dedicated to helping you find the right home in Summerlin and greater Las Vegas, at the best price for that home that will make you successful in real estate ownership.

I want to know what you want and how much you can afford so that we can merge these two priorities and find a home that you’ll love owning.

It’s important to keep your objectives in mind when looking at a home. Often, the idea of owning a home can be overwhelming, understand that many feel this way. Keeping a list handy of the features that you need and want in a home helps and judging each home by the list instead of by details can distract you from your goal. We work with you to go over the pros and cons of each home and help you keep on track while still keeping our eyes out for a great property.

 

Make the offer.

I can prepare all of the paperwork and go through it with you before submitting it. Remember, the seller may reject or counter your offer, so even at this late date, try not to set your heart on the home you hope to own. You’ll probably have to write a deposit check to the seller’s broker that proves the seriousness of your offer.

 

Get all necessary inspections done.

A home inspector will check for signs of harmful materials like asbestos, mold and lead paint. They’ll also check for evidence of faulty wiring, leaks and pests. This is a crucial part of the home purchase process. If you don’t get a home inspection done, that means you could be stuck in a home with a bad case of black mold and no recourse other than to pay for its removal. Inspections will only cost a few hundred dollars and this is more than worth it in the end. There are several inspectors in the area that I would be happy to recommend.

 

Do a final walkthrough before closing the deal.

I want to do this with you to make sure that 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 are here with you for the complicated process of buying a home. Don’t hesitate to contact me to find out more about how we can make the home buying process easier!