Purchasing a home rather than renting is a smart move for many families, but there’s a lot to consider before making that step in your life. You may feel that you don’t want to waste money paying rent when you could be building an investment in a home, but going about it the wrong way could mean losing valuable money.
1. Get a real estate agent. Despite many websites on the internet you can utilize to look for a home, most first-time homeowners will benefit from professional help.
2. A real estate agent in Summerville, SC
3. who knows the current market can help you find the best rate for what type of home you’re looking for.
4. Only buy when you’re planning to stay in the same city for at least a few years. Buying a home and then selling it too quickly may actually cause you to lose money due to a decrease in market value and going rates on similar homes in your area.
5. Build your credit. To obtain a mortgage you’ll need a good credit score. Being smart with paying credit cards, car payments, etc. on time can help your credit.
6. Figure out what you can afford. A general rules is to purchase a home that is about 2.5 times your annual salary. Online mortgage calculators can help you figure out what you can afford based on your income and regular expenses.
7. Look for a home in an area of town that is convenient for getting to work or school, shopping, etc. Consider a community that has a low-crime rate and is near good schools whether you have children or you want to boost the property value when you sell.
8. Get pre-approved. Make the actual home buying experience go more smoothly by getting pre-approved ahead of time to be sure that you meet the financial requirements of buying a home, including debt, income, and credit history.
9. Find out as much as you can about what other homes in the area have been selling for, including, if possible, what they were listed for and what they ended up selling for. Bid slightly lower than the asking price of other homes in the area.
With some planning and help from a real estate agent in Summerville, SC you can find the right home for you, in the right location, and at the right time. Choose Sea Turtle Properties, LLC to get the best service possible.
