A Simple Guide To Home Ownership

A Simple Guide To Home Ownership

The first step to Home Ownership is to meet with a local Real Estate Agent.  A good agent will listen to your needs and concerns, will put you in contact with local lenders, will help you seek out the properties that will suit your needs and your budget and will guide you through the entire process from searching for your dream home to making it yours at closing.  Your agent will protect your interests along the way.  Find an agent that you’re comfortable with, someone who will listen and someone who will communicate with you in a fashion that works for you.  Remember this…the seller has their own agent working for them make sure you have your own agent working for you! Don’t worry about compensating your agent, in most cases your agent is paid from the seller’s proceeds of the sale.

The second step to Home Ownership would be to get together with a local lender.  I stress the word local here because the local lenders have a really good idea of what your local real estate market looks like and they can often times point you in the direction of local first time homebuyer programs and mortgage loan products specific to your area.  Meeting with your local mortgage lender early in the process to home ownership allows you to shop within your means and positions you to be ready to make an offer the minute you’ve found your dream home.

Once you’ve chosen your REALTOR® and you’ve secured your mortgage pre-approval, it’s time to begin the search that will end in home ownership.  You’ll need a list and your list needs to be broken down into “wants” and “needs”.  Be honest with yourself and your agent about what these wants and needs are and together you’ll work towards your goal of home ownership.

Don’t get discouraged if you don’t find your dream home in the first week or even in the first month.  Every home buyer is different and so is every house.  It may take some time to find the right combination of your wants and needs.  Home ownership is a huge investment and responsibility and it’s important that you don’t settle for just anything.  There may be times when you are convinced that the house you’re looking for doesn’t exist when the truth is it just might not be on the market yet.

Don’t be afraid to look “outside the box”.  Sometimes the path to home ownership can take you in a direction you might never have considered.  I’ve worked with buyers who insisted they only wanted to look at capes but then discovered they really liked the raised ranch.  Also, when you’re looking at properties, it’s sometimes hard to see past the obvious.  Maybe you find a house that meets all your wants and needs, but it’s painted in a garish combination of colors.  Try to see past that and imagine what it would look like painted in your color choices.

Once you’ve found your dream home, the next step in the process to home ownership is to make an offer.  At this point in time, you’ve got a pretty good idea of what your local housing market looks like and with the help of your agent you should be able to nail down a reasonable market value for the house you’re ready to buy.  Take into consideration if it is a foreclosure property or a short sale listing but keep this in mind…under no circumstances can you assume that you are the only buyer for the property and that the seller will accept any offer you make.  If this is truly your dream home and home ownership is your goal then your offer needs to be within a close range of current market value for the property.

If your offer is accepted, the next stages of the home ownership process can get pretty tedious.  Negotiating the contract, conducting inspections, requesting repairs, obtaining repairs and securing your mortgage financing will all be done in a matter of weeks to months depending on the condition of the property you’ve decided to purchase.  Try not to worry, the path to home ownership is a path that many have traveled before you and your REALTOR® is well equipped to hold your hand and help you along the way.

Your path to home ownership can be a daunting journey.  But, remember this most important tip.  During your journey, communication is the key to success!  The better your communications with your agent the more successful and rewarding your journey to home ownership will be!  Be certain that you choose an agent that you can work well with and who is working for YOU!  Decide early on how you and your agent will communicate and your path to home ownership will be successful and rewarding!

Julianne Krutka is a Professional REALTOR® who specializes in working with first time home buyers who are searching for the best path to Home Ownership.  No matter what your geographic location, I can help you find the REALTOR® who will help you find your dream home and reach your goals of Home Ownership.  Contact me today to get started!  http://www.juliannekrutka.com/web/pgcnfID_66956/Contact

Julianne Krutka
Park Square Realty - Westfield MA
Western MA and Northern CT REALTOR®
Cell:  413-297-6718
Email: Julianne.Krutka@gmail.com
Website: www.JulianneKrutka.com
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A wise person once said..the only stupid question is the one you don't ask!  I am never to busy to answer your questions about Real Estate...ask away!