Are You Ready For Home Ownership?
If you are curious about buying a house, then chances are you are ready to buy a house, at least mentally. Leave the rest to the professionals!
Often time people restrict themselves by thinking they don't make enough money, don't have enough credit, etc etc, those are fears and excuses. The truth is your family deserves their own space, and renting is not the best investment for you.
Take the first step, ASK a realtor for help. Even if you don't qualify today, with a Realtor's and Lender's assistance you would qualify within months.
Questions for Prospective Homeowners
Are you ready to buy?
You won't know until you ask. A Realtor and lender can tell you if you're financially ready, and even if you aren't, they can guide you step by step to get ready!
How much can you afford?
It can be discouraging to find out that you don't qualify for a home you already fell in love with! Which is why it is important to follow the steps in sequence and get pre-qualified first. How much you can afford will depend on your income, debt and credit score, but a mortgage lender is ultimately the best qualified person to tell you how much you can afford. And The Realty Agency affiliates with he best of them! Submit a request to contact a realtor (here) and we will get you in touch with a lender right away.
What is your debt-to-income ratio?
This is something that lenders take very seriously. Your overall debt should generally 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. Luckily in Yuma County, being a rural area, it can buy a very comfortable residence sometimes even with ample acreage.
What do you want?
Are you confused about buying a starter home, a larger family home, or maybe an investment property?? Schedule a consultation with one of our Real Estate professionals to discuss your concerns and gather professional advice! You can instantly request a consultation by clicking (here).
Here's a quick overview of what to expect
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.
Make the offer.
This can be a maze of "buyer", "seller", "deposit", and "completion". We'll take the lead and prepare all paperwork and go through it with you before submitting it. Remember, the negotiation process can be quick and easy as well as long and extensive. But we will be there every step of the way to guide you with knowledge and experience as well as to help smooth over the process and relieve you of additional stress.
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 unknown issues. 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 walk through before closing the deal.
We take this part very seriously, with your best interest in mind, we want 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!
Contact us for more information about first time home purchasing.