How much house can you afford?
This mortgage calculator can be used to figure out estimated monthly payments of a home mortgage loan, based on the home’s sale price, the term of the loan desired, buyer’s down payment percentage, and the loan’s interest rate. Please note, taxes and insurance are not included.
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First Time Home Buying
Owning a home may be your dream, but in order for the purchase to be the happy and satisfying experience it was meant to be, you need to ensure that you are financially and mentally prepared for the responsibilities that come with it.
Some people have a notion that home ownership is like renting, but with the power to have pets and paint the walls whatever color you like. However, while these privileges are available to homeowners in most municipalities, they come with the responsibilities of a mortgage, taxes and home maintenance. Preparing for home ownership requires you to take critical stock of your finances and your expectations.
Are you ready to buy?
Owning your own home is about more than just being able to decorate any way you like; it’s about being prepared to maintain your home over the years, realizing that part of your income and time will go towards repairs and maintenance. It’s about being willing to take the risks of home ownership with a realistic expectation of the rewards.
How much can you afford?
It can be discouraging to find that your salary won’t stretch as far as the home you want to own. However, sacrificing a huge part of your income just to pay the mortgage can very quickly make home ownership a burden rather than a point of pride. It’s better to buy a modest home now and look at purchasing your “dream home” in a few years.
What is your debt-to-income ratio?
This is something that lenders take very seriously. Your overall debt should not be more than 40% of your income, and your housing debt should not be more than 32%. What 32% of your income will buy depends on where you want to live. In rural or downtrodden areas for example, it can buy a very comfortable residence and ample acreage. In highly sought-after urban areas however, it may not even buy a 400 square foot bachelor suite.
What do you want?
Do you like the idea of cleaning your own gutters? Do you shudder at the thought of lawn care? Would you rather just pay a fee every month and have everything done for you? Would obeying rules about when you can have your garbage cans out bother you, or do you want to live in a neighborhood where everything is ‘just so’? The answers to these questions can help you narrow down the search for the right type of property for you.
We Can Help
You need a good agent who will work hard for you. Our real estate team is dedicated to helping you find the right home, at the best price. We want you to find the home that will make you happy and successful in real estate ownership.
When you hire us to help you buy your first home, we want to know what you want and how much you can afford. Then we’ll find a way to merge these two priorities and find a residence that you’ll enjoy owning.
Keep your objectives in mind when visiting a home. Sometimes the idea of owning a home can overwhelm your practical sense, so keep your feelings in check. Keep a list handy of the features that you need and want in a home, and judge each home by the list instead of by details that could distract you from your goal. When you’re alone with your agent, you can go over the pros and cons of each home. We can help you stay on track while still keeping our eyes out for a great property.
Engage the services of a good real estate lawyer. We can recommend several lawyers in the area who might be a good fit for you. Interview them to ensure that you get someone you can work with. The legalities of transferring land ownership can be dodgy, and a lawyer can be your best defense against future legal troubles. A good lawyer can charge several hundred to over a thousand dollars for their services, but the thousands of dollars saved in legal fees later on makes this a good expense.
Make the offer. This can be a maze of “buyer”, “seller”, “chattels”, “deposit”, and “completion”. We’ll be happy to prepare the paperwork and go through it with you before submitting it. Remember, the seller may reject or counter your offer, so even at this late date, avoid setting your heart on the home you hope to own. You’ll probably have to write a deposit check to the seller’s broker that proves the seriousness of your offer.
Get all necessary inspections done. A home inspector will check for signs of harmful materials like asbestos, lead paint and mold. They’ll also check for evidence of pests, faulty wiring and leaks. This is a crucial part of the home purchase. Not getting an inspection done means that you could be stuck in a home with a bad case of black mold and no recourse other than to pay for its removal. Inspections will cost a few hundred dollars, but again, this is more than worth it in the end. There are several inspectors in the area that we’d be happy to recommend.
Do a final walkthrough before closing the deal. We’d be happy to do this with you to make sure that everything agreed upon is completed prior to the final signing.
From the first interview that determines your requirements to the moment that you receive the keys, we can help you with the complicated process of buying a home. Don’t hesitate to contact us to find out more about how we can make the home buying process easier!
Your home will likely be the greatest financial investment you’ll ever make. With the help of a trained real estate agent, it can also be your wisest. Give yourself every opportunity to come out on top by working with a professional.
Get All the Listings
New homes for sale hit the real estate market daily. Your representative will be in regular contact with sellers and other real estate agents to ensure you see all the newest listings right away, whether or not they’re made public. Often, buyers can put in offers with little or no competition and walk away with an impressive deal on the property of their choice. Your agent will save you valuable time by making sure you only see properties that meet your needs and investment preferences.
As you compare the best deals, your agent will provide you with important information about the home, its neighborhood, zoning issues, utilities, and nearby plans for development.
Professionals on Your Side
Many real estate transactions include an extensive negotiating process. Your agent will represent you and get you the best deal possible. Expect them to attend property inspections, make sure any and all agreed-upon repair work is carried out, and to handle the paperwork related to the sale. An agent can also help set up the financing for your investment, and work directly with a broker to provide you with a seamless service package.
Get the Best Deal
Working with a dedicated agent on your next home purchase will save you time and add professional assurance to every step of the process. With the guarantee of a solid investment, the decision could also make you more wealthy when it’s time to sell.
Out of Country Purchases
If you live in another country and are looking to buy a property here, we can certainly help you. When you’re buying property outside of your country, you require professional assistance to ensure that the purchase is conducted smoothly. We offer competent representation in international real estate dealings.
International Home Buyers
Buying property in our nation can be a great investment strategy. You can find a place that works as a vacation home, a permanent residence, or as a rental property. Chances are that your property value will go up, leaving you with a significant asset.
It’s advisable to take a trip to the neighborhood you’re considering buying in for the express purpose of looking at properties and the community. If you can’t visit, seek out a competent professional to find the type of property you want for a fair price. You may wish to retain an attorney in addition to hiring a real estate agent, so that your property purchase is problem-free.
An important part of buying property here is knowing local real estate laws. You should have a good working knowledge of these laws, but if you don’t, then it’s advisable to retain some kind of legal counsel experienced in these matters as well as a real estate professional who can help you find the best property for your needs.
No matter what your goals are for purchasing property in this country, we’re dedicated to working hard for you and finding you what you want.