Buying Your First Home In Pleasanton: Suggestions for Success
Buying Your First Home: Five Suggestions for Success
Getting started in home ownership seems to present lots of obstacles and challenges. With so many foreclosures and other problems, purchasing real estate may seem like it requires too large a commitment to take on. In many cases, the task is so intimidating that even very well qualified home buyers won’t try. Fortunately, it doesn’t need to be so hard if you know what to expect ahead of time. Before you undertake the purchase of your first home, follow these five easy guidelines to make it happen with the best results.
Be patient. A mistake made by many first-time home buyers is being in a rush. This can lead to unsound financial decisions and more problems when they get into the purchase. Sometimes you have to say no to a house if it’s too expensive, has structural problems or if you just decide you don’t like it. There will be others that you will find, and one will be your dream home.
Get a reading on your credit score. Your credit history is going to determine several aspects of your home loan, including your interest rate and even your ability to get the loan in the first place. Contact the three major credit reporting companies, Experian, TransUnion and Equifax, to get an accurate and recent credit report. Look it over closely and dispute any errors you find, so you will have the highest possible credit score correctly reflecting your true history.
Get a good real estate professional to work with you. Experienced real estate specialists have worked through the home buying process numerous times. Good real estate agents know what to expect and they can give you valuable assistance through the process. They can help you with finance options and other aspects of the deal to you so you will understand them more completely.
Start by being realistic and honest about what you can afford to buy. One reason that many people come up short in deciding to buy a home is because they set their aim unrealistically. They look at homes they cannot possibly afford instead of homes in their price range. If something appears impossible, you are not likely to even try to get it. This can be extremely disheartening. It takes some careful thought to know how much home you can afford to buy before you start looking. You have to consider the property taxes, insurance and maintenance costs in addition to the mortgage payments.
Negotiate. Negotiation is one of the biggest aspects of a home purchase. The sellers decide on a certain price, and they expect that a buyer will offer something lower. The seller can either accept the offer or make a counteroffer. This process can go on until you and the seller come to an agreement on a price or until one of the parties decides not to deal with the other. Negotiation is key for reaching the best deal for everyone.
The idea of purchasing your own home should not be intimidating, whether it is your first home or if you have done it a few times. With some good assistance and a willingness to have some patience and do some extra work, your purchase can be a rewarding experience. Take the time to follow these easy tips and you will be on the path toward getting the home of your dreams.