5 Tips to Will Help Your Successfully Buy a Home 

If your New Year’s resolutions include buying a home in 2019, there are a few things you should know before you hit the streets. Here are five tips to help you successfully buy a home.

  1. Have a plan: Do your research and homework before you go into the market place to shop for a home. Pull your credit report, review your finances and make a list of requirements you need in your home. Research areas, schools, builders, square footage and floor plan options. Having a plan will help you stay on track with the goal of buying a home.

  2. Know your budget: After you have reviewed your finances and your credit report, it is a must that you speak to a qualified loan officer – unless you plan to pay cash. Getting approved for your home loan first, will help you set a budget that you can search within. You would not want to fall in love with a house that is out of your affordable price range nor would you want to make an offer on a home you could not qualify to buy.

  3. Save for your down payment: We’ve all heard the saying, “Cash is King” – if you need a home loan, being approved with a reputable mortgage company and having a strong down payment, will increase your negotiating ability. A larger down payment is favorable for both the seller and the mortgage company. An FHA loan requires a borrower to have at least 3.5 percent for a down payment, while conventional loans maybe 5 to 20 percent down. The more money you have saved for a down payment, the stronger your negotiating power.

  4. Minimize your demands: In our demanding inventory conditions today, home buyers need to practice the other F word – flexibility. When making an offer, try to minimize your demands or contingencies. Be flexible with your closing date for example – the more you are willing to work with the seller, the better your chances are for getting your offer accepted.

  5. Tell your story: If you are faced with a multiple offer situation, adding a personal touch might be what sets you apart from the others. If possible, try to meet the seller. A face with a name will build a rapport. You may also consider writing a letter to the seller; explain why you want to purchase their home or why they should accept your offer. If possible, ask your agent to present your offer and letter in person to the seller.

It’s a great time to become a homeowner in the Valley of the Sun – if you or anyone you know is looking to successfully buy a home in 2019, please give us a call today!

Melissa Dierks

The Regal Team of RE/MAX Professionals

20241 N 67th Ave A1

Glendale, AZ 85308

(623) 229-0154

www.theregalteam.com

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