Congratulations! You are ready to buy a house. This is one of the biggest investments you probably will ever make so you want to make sure your approach to house hunting is done in the right way.
There are good opportunities in the real estate market, but there are some important things to know before you go house hunting for Oviedo real estate, Coral Springs homes for sale, Boca Raton Luxury homes.
Since there are thousands of homes for sale in any given area, house hunting can seem a bit overwhelming for many home buyers. Learn how to pick the best home for you and your specific needs by following a few simple tips.
- Credit Score: First, make sure that your credit is in top shape. Get your current credit scores from all three credit reporting agencies through myFICO.com. Make sure there are not errors negatively impacting your score. Report mistakes promptly. It can take weeks and even months to get them corrected.
- Affordability: Know what you can afford. The general rule of thumb is two and a half times your annual income, but that can vary based on your financial obligations. It is a good idea to get preapproved by a lender. This way you will know what you can afford and sellers will take your offers much more seriously.
- Cash Flow: Evaluate your cash situation. You will need at least three percent of the selling price for a down payment. Various fees and closing costs will need to be paid as well. Be sure not forget property taxes along with home maintenance and repair expenses that also will need to be taken into account.
- Must-Haves: Now comes the fun part. Take some time to decide on what you really want. Write down what is most important to you in a home. Perhaps the number of bedrooms, bathrooms, or proximity to school and stores.
- Stay Detached: Remember that buying a house is an investment. If you allow your emotions to take control, you might end up moving into a home that is overpriced or has multiple issues. Try to keep your emotions out of the equation. Focus on the business side of the process, understanding the financial commitment you are taking on will affect you for years to come.
- Look Online: Save time and money by beginning your search online. Checking out home listing on the Internet can help you easily compare and narrow down neighborhoods, price ranges, trends, and characteristics.
- In-depth Research: Go beyond online listings to get more details about homes that interest you. Check out police reports and visit schools to help you make your decisions. Sign up for email alerts when a home’s price is reduced or when there is a new listing in an area that interests you.
- Find a Realtor: Work closely with a real estate professional who can help you through the entire home buying process. Berkshire Hathaway HomeServices (BHHS) Florida Realty has more than 39 locations across Florida. Whether you are looking at homes for sale in Oviedo, Coral Springs homes for sale, or Boca Raton luxury homes, all of our local agents can help you find listings that are right for you.
