• The Process of Buying Your First House

    Tired Of Renting

    Are you tired of paying your rent? It seems like it is a process that never ends and you have nothing to show for it. Housing is the largest expense we have every month. It is time for you to begin the process of buying your first house.

    Calculate Housing Cost On Income

    But, you ask, where do I begin buying my first house? Your monthly housing allowance keyed to your disposable income is the first step. Housing cost should not exceed 30% of your annual disposable (after taxes and deductions) income. Assume your disposable income is $75,000 per year. Multiplying $75,000 times 30% (.3) yields $22,500 divided by 12 equals $1,875.00 per month maximum housing cost. If your household has two incomes, I suggest you only use one income to calculate your monthly housing allowance. If one income ceases, you will not have as much difficulty budgeting your basic housing. As an additional note, your housing allowance will need to cover the expense of your mortgage payment, property taxes, home insurance and repairs.

    Down Payment and Preapproval

    The second step, towards buying your first house, should be as to whether you can come up with a down payment. This will be ultimately important when seeking financing for the remainder of the sales price of any home. Now that you have completed the above steps, you are ready to apply for a preapproval with a lending institution.

    Any lender can do this for you. They will calculate how much house you can afford, your monthly mortgage payment and how much they are willing to lend to you. If asked by the lender, what term you would prefer for your mortgage, always choose the longest term offered (30 years, 40 years). You can always make extra principal payments which is especially prudent at the beginning of the mortgage loan…it decreases your interest payments on the loan immediately. Sell my house fast in Tempe

    Begin Looking

    Armed with good information about how much house you can afford, it is time to start looking for “the” house. Primarily, you will need to consider your family size in relation to the number of bedrooms in a home. Another consideration will be family growth. Do not hurry through this task, take your time. A realtor usually has information sheets for each home they have listed. One piece, of information you can derive from the info sheet, is the property taxes on a property. You can immediately eliminate homes without adequate bedrooms. You may have to concede to some of the amenities you desire to get into the price range of a home you can afford. This is normal when purchasing existing housing.

    Close To Offer

    The looking is a fun, but knowledgeable experience. When you have eliminated your search to two or three homes, it is time to take a second look at your selections. Manned with a camera and a good guide to assist you to look at the deeper contents of the home not revealed by the realtor or owner, ask questions and take notes as you complete the second tour of each home. For example: Have you ever had water in the basement? Now, you are ready to write offers.

    Have Legal Representation

    Offers, once placed, can be negotiated. Realtors always represent the seller. For your own leverage, I suggest you hire legal representation. This will cost you something, but is well worth it. Once, your offer is accepted, you will need to select a closing date and apply to a lender for a mortgage loan.

  • Real Estate Marketing Online Is One Of The Best Ways To Buy Or Sell Real Estate

    Real estate marketing online is one of the best ways to buy or sell real estate these days. It allows potential buyers and sellers to see what is out there for them to select from. You will find both private sellers and real estate agencies offering listings in this manner. Effective real estate internet marketing methods are key to making this work though.

    What Realtors Should Do

    For people who are looking to relocate to another town it is much easier than trying to travel there and see what is available. Once they narrow down a few selections they can go tour them in person. You need to use real estate internet marketing techniques that allow them to see pictures of both the inside and the outside of the home.

    You should also include as much information as you can about the home. This includes the location, price, special features, and who to contact. With such information in place, real estate marketing online can help you get the listing sold. It can also significantly reduce the length of time that your home sits on the market before it sales.

    Realtors you should use a good digital camera to take pictures of the home. You can easily upload these images to your website for people to see. Take photos of various rooms in the home and from different angles. That way they can get a good idea of the overall layout.

    Those online real estate listings without photos or with poor photos are going to be less likely to get attention from potential buyers. If you are going to use this method then you need to make sure you put the effort into it that will get you results. The use of photos will really offer you want you need.

    Realtors when you use effective real estate internet marketing it is a lot easier to attract listings and buyers. People use the internet for everything you can imagine and this is just one more of them. Most people would rather be private about their search for a home until they are ready to move forward with it.

    One thing that you should remember is that your website should be effective it should convert the potential homebuyer or seller to pick up the phone and call you to see your listing or to gather more info from you.

    Majority of realtors websites are not directed to the homebuyer or seller they do not offer the client benefits of doing business with them. So make sure you website offers benefits that the client wants. If you do you will dramatically increase your client pool with ease.