How to Shop for a Home in Six Months or Less
Many factors determine what you want and need in a home. In addition to preferences such as the size and style of home, you need to consider the neighborhood and the schools if you have children.
You will want a mortgage you can live with and a home that is structurally sound. To guide you in these decisions, you will need to give your list of wants and needs to a competent and creative Real Estate Consultant.
So many choices! Definitely, this process can keep home shoppers awake at night. Here are six steps designed to remove the strain from your next home purchase decision and help you purchase a home in six months or less.
1. Determine What You Can Afford
Many home shoppers think they need thousands or tens of thousands of dollars to buy a home. Traditional Real Estate agents and lenders may have mistakenly told you that you need a down payment of $5,000, $15,000 or more to buy a home. This just simply isn't true. In reality, there are literally dozens of home loans available with low interest rates or low monthly payments. "The MichLakes Team" specializes in finding these little known home loans.
That is why we developed "The Home Loan Finder Service," which searches over 275 different loan programs to find the one that matches exactly to your needs. With no obligation, you will learn how much money you will need to buy a home. Using this easy service will take only a few minutes. If you've been frustrated trying to get simple information about home loans, you'll love our FREE No Obligation "Home Loan Finder Service," please call 1-866-MILakes (645-2537) and ask to speak to one of our professional consultants. You will be taking an important step to becoming a home owner.
If coming up with a down payment is a problem, please call 616-393-0444 in the Holland area or 1-800-411-6683 outside the Holland area and ask for an appointment to see our Preferred Lenders "Creative Financing" options. Our Preferred Lenders have 3 - 5 programs for a down payment of ZERO to 3%, 4 - 6 programs for a down payment of 5% to 10%, and 8 - 12 programs for a down payment of over 10%. Our "Preferred Lenders" have a program that will fit your financial situation.
2. Choose a Real Estate Consultant
One of the best ways to find a good Real Estate Consultant is to ask people you know. Talk to friends, relatives or a trusted financial advisor. Next, you will want to interview those agents. Ask them what they can do to help you and then determine how comfortable you are with them. Ask the agent for references of customers they have served. A reference is your only means of truly knowing the kind of service you will receive from that agent. Another source of information about the type of service the agent provides is determined by asking them what amount of their business is referred to them by their clients, family, friends and associates.
Real Estate Consultants, like other professionals, have their areas of specialty. Is your job taking you to a new city? Consider a corporate relocation specialist. Do you have your sights set on a certain neighborhood? Talk to a Real Estate Consultant who specializes in that area.
Once you decide on a Consultant, let that person be creative in helping you find the right home at the right price. Give your Real Estate Consultant the opportunity to expand your horizons. Remember, you’re hiring a professional. Don't hire someone you can't fire!
3. Consider Location
Real Estate agents often claim the three most important factors in a home purchase are “location, location, and location.” While this may be an overstatement, neighborhoods do tend to rise or fall in value collectively. Schools, parks, proximity to your work and access to shopping – these are just a few items you should investigate when selecting a neighborhood. Ask your Consultant for a market analysis of your target area. They can also help you research local school's test scores and any neighborhood restrictions from homeowner’s associations or covenants. These are important to research ahead of time if you own or are starting a home business or are considering putting up fences and the like.
4. Pre-qualify for a Loan
Pre-qualifying for a home mortgage up to a certain amount offers four important benefits:
With a Pre-qualification Certificate from your lender, you enter the negotiation process for your future home like a CASH buyer, thus putting yourself in a better negotiating position that a buyer who has yet to qualify.
You won't have to worry about the approval process and a possible bank denial after you've found the home you want.
You will reduce the stress to yourself and your loved ones.
Your home search process will be shorter and more fun.
5. Zero in on a Home
Eight out of 10 homebuyers purchase existing rather than new homes. What’s your preference? Newer homes tend to have plenty of garage, closet and kitchen space, while older homes and neighborhoods often get high marks for charm, mature foliage, and spacious backyards. Do you prefer one or two stories? Do you picture yourself in a ranch, colonial, split-level or contemporary home?
Write down your individual specifications, such as size of kitchen, number of bedrooms, number of baths and size and location of garage. Most Real Estate Consultants suggest you distinguish between what you absolutely must have in a home and what is merely on your wish list.
6. Have the Home Professionally Inspected
A home inspection can provide a clean bill of health on a property and put you at ease before you celebrate the closing on your future home.
However, it may also help you identify structural or mechanical problems that might either cause you to walk away from a transaction or strengthen your position while negotiating on price.
By following the six simple steps we have outlined above, you will be able to determine:
1. What you want in a neighborhood and a home.
2. The best professional to guide your path.
3. Why getting a Pre-qualification Certificate is important.
Being aware of the six simple steps in this report places you in the ideal situation to make your dream home a reality. Please call the office of "The MichLakes Team" at 1-866-MILakes (645-2537)and ask for an appointment because you want to buy a home in six months or less. You will be taking the first and most important step to owning your "Dream Home." Thank you for requesting this FREE report. We look forward to serving you.
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