Congratulations! You are taking the first step toward buying a home.
Some of the Benefits of Home Ownership
- A home of your own allows you to project your personal style – it’s all yours!
- Mortgage loan interest can be deducted from your federal income taxes
- Real estate taxes can be deducted from your federal income taxes
- It’s an investment that should grow in value over time
Buying a house is an awesome responsibility – there are many things to consider – and so how do you know if you’re ready? Start by answering some basic questions:
- Do you have reliable and steady income? If you are self-employed, do you have 2-3 years of tax returns and bank statements that will show your income?
- Have you been employed on a regular basis for the past 2-3 years?
- Do you have a good record of paying your bills on time?
- Do you have few outstanding debts like student loans and car payments?
- Do you have money saved for a down payment and closing costs?
- Do you have the ability to pay a mortgage every month?
- Do you have the ability to pay additional costs that arise from home ownership (homeowner association dues, utilities, general maintenance, landscaping and snow removal, etc.)?
- Do you know your credit score?
- Does your credit report reflect accurate information?
If you answered yes to these questions, you are ready to begin the home-buying journey! If you answered yes to most, you still may be ready to buy a home – your real estate agent and lender can provide you with information about programs that exist that may fit your situation.
Although our real estate team is here to answer your questions and guide you through the purchase of your home, it is still helpful to understand the basics of what will happen next. The home buying process includes:
- Finding a lender
- Getting pre-approved for a loan
- Find a home
- Make an offer
- Get a home inspection
- Close on the house
- Live in your new home!
Each of these steps can be complicated and take some time, and we’re here to guide you through each step of the process.
We provide expertise and information that enables you to make an informed purchase, and we are dedicated to finding our clients the ideal home for their needs, their finances and their lifestyles.
If you have any questions, or you are ready to get started, please contact us now. We are ready to help you find and create your Paradise!