Are You Ready To Be A Homeowner in Metro DC area?
Home ownership may be one of the most important milestones in your life. As fun and exciting as it sounds, it comes with financial and psychological responsibilities you may need to tackle to ensure a smooth, no-hassle home buying process.
Like renting, home ownership may seem to have the same privileges or even more freedom about what you would like to do with your own home. However, when it comes to responsibilities, home ownership may require you to take care of mortgage, property taxes and more importantly, its ongoing maintenance.
If you want to take the first step and become a homeowner, you can search for homes here.
Initial Questions For Future Homeowners
Are you ready to purchase?
Home ownership is about more than just decorating and cleaning your home. It is about being mentally and financially ready to take the responsibility of owning a home, being aware that your time, money and effort will go towards its maintenance. It is more about taking the risks of making the investment of your life with a realistic return on your investment.
How is your financial standing?
When the time comes to obtain a mortgage, lenders will need to look into your financial standing so you can be granted for a mortgage pre-approval letter. Your employment status, current income and especially debt-to-income ratio play an important role on your mortgage eligibility. As a rule of thumb, your housing debt should not be more than 32% while your total debt should stay at 40% or lower of your total income.
What is your budget?
It is crucial to figure out your financials before you start home hunting. Finding out your salary may not accommodate the mortgage amount you want to obtain can sometimes be disappointing. However, this automatically eliminates mortgage payments to be a burden on your financials. It is always better to buy a starter home and move up to buy your dream home.
What are your housing requirements & expectations?
Are you more than happy to take care of your lawn, exterior building maintenance? Or would you be willing to pay a monthly fee and have everything to be taken care of for you? Is it acceptable to spend an hour to commute to work everyday? Or would you like to live close to where you work? Would you sacrifice space over location? Or do you want a spacious property to grow into? By answering these questions, you can easily narrow down your search for the right type of home.
I CAN Help
You need a great real estate professional who can secure the right deal on a perfect home. Me and my staff are committed to find you the right home, at the best price with the least amount of hassles. My ultimate goal is to find you a home that you will be proud to own.
When you hire me to help you buy your first home, I will ask about your requirements, expectations, wish-list and and budget to execute my in-depth needs analysis. After that, by merging all the information, you will enjoy a great first home buying experience with a WOW effect.
Engage with a good lender. Getting a great deal on a home can be sometimes tricky. Having a good real estate agent is crucial and having a good lender is the cherry on top. Through my elite network of preferred lenders, you will have access to lenders giving the highest priority on great customer service enabling you a smooth home buying experience.
Keep your goals in mind when visiting a home. Owning a home or even the process itself can sometimes come with overwhelming details. Determine a list of your must-haves and stick to them. In this way, you can easily list pros and cons of any visited homes and won't get drawn into details which can distract you from your ultimate goal, being a homeowner. While helping you stay on track with the home buying process, I will also be keeping my eyes out for a great home.
Make the offer. Down-payment, loan amount, deposit, title company, settlement, escrow are just a few terms on purchase contracts. Without the help of a great real estate professional, it can be hard to understand these terms and their impacts on your offer. I will be happy to take care of the paperwork and explain you every detail before submitting your offer. To make a strong and serious offer, you will need to write a deposit check to the title company. Keep in mind that the seller may reject or counter your offer. Therefore, at this stage, avoid having high expectations about the home you hope to own.
Hire a home inspector. A home inspector checks for any defects such as leaks, electrical problems, mold, mechanical issues and provide detailed reports so we can ask the seller to address the issues. This is the most important part of the home buying process. You will need a good inspector who reports all details and answers your questions. Buying a home without a home inspection means you may be stuck with serious issues such as mold or roof leaks and will have no recourse but possibly paying a hefty fee to fix them.
Final walk-through. Always do a final walk-through before closing the deal. My job is to do the walk-through with you. In this way, we will ensure the completion of agreed home inspection repair items prior to settlement.
From the initial phone interview to the settlement table, I can guide you through this complex process of buying a home.
Contact me for a smooth home buying process.
Buy Your Metro DC Area Home
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The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX.Properties listed with brokerage firms other than Keller Williams Capital Properties are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers.The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.All listing information copyright MRIS 2017.
Listing information last updated on November 21st, 2017 at 12:21pm CST.