Deciding to Buy
Are you thinking of buying a home in Warner Robins? You’re in the right place.
A house is one of the most significant purchases you’ll make. With enough preparation, you just might get the home of your dreams. Here are a couple of tips that will get you closer to homeownership.
- Check your credit score Your credit score is key to your mortgage pre-approval. It also helps gauge how much interest lenders will charge you. The better your credit score, the higher your chances of having to pay a lower mortgage interest rate.Start by requesting for a credit report your bank or from the major credit reporting agencies: Equifax, TransUnion, and Experian. You can get these the report for free once a year from these institutions. With your report in hand, you can check and resolve any issues and errors you found.Examine your credit report if there are any overdue accounts. Remember: the better your credit score, the lower your mortgage interest rate. Pay outstanding debts and refrain from using your credit card/s to boost your credit score and improve your debt-to-income ratio (preferably 36
- Budget wiselyBuying a home and carrying a mortgage will put great demands on your budget. Before you shop for a home, get your finances in order. Save up for a down payment and allocate enough funds for monthly utilities and needs.Loan programs have different down payment requirements. The widely accepted rate is 20 percent, but some require as little as three percent or
none at all. It would help if you already know what kind of loan you want to get so you can save accordingly.Another thing that would help you create a budget for your real estate purchase is to determine what kind of house you can afford. You can do a preliminary search of market offerings, considering all your must-haves in a home. This includes the location, amenities, and the like. By doing so,
you can get a better picture of how much you need to save.
- Find a local real estate agent When you work with an experienced real estate agent, you unlock a lot of doors and access a wealth of resources. These can help you get your dream home in Warner Robins.Don’t hire the first realtor you come across. It is best to vet a number of potential candidates through an interview in order to find the one that’s most compatible to you and what you’re looking for. Be clear about your needs and wants, your goals, and your budget so your real estate agent can help you find the home that fits your preferences.
- Don’t forget to get a home inspection Sellers have disclosure obligations which lets buyers know about property defects and any known issues. What’s disclosed, however, depends from state to state. In Georgia, sellers are not required to fill out a disclosure form but are mandated to inform buyers about known material defects.
What about the unknown issues?To err on the side of caution, we always advise buyers to not skip on the home inspection. It helps you make sure the house you’re buying is safe and in good condition. Moreover, issues uncovered by a home inspection can give you leverage in the negotiating table. Possible scenarios include
the seller offering to shoulder repair costs or even a lower selling price.Don’t just hire any property inspector. If you are buying land, find one that specializes in that field. But what if you are looking at new houses for sale in Warner Robins, GA? Surely it’s in great condition? We don’t know for sure, so get the expert opinion of a home inspector especially if it’s your first time to buy a home.
- Do a final walkthrough Before the closing, visit the house you’re buying and do a final walkthrough to make sure things are in proper order. Take your real estate agent with you, and for added peace of mind, a home inspector, to check if all issues and repairs were properly addressed.You need to check that repairs agreed upon after home inspection were made. Note down and take pictures of anything that wasn’t addressed properly. Check faucets, drains, and electrical outlets if they are working properly. Additionally, keep your eye out on new problems that might have appeared suddenly, such as mold.
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Learn more about buying a home in Warner Robins
- Buying a home is a challenging yet fulfilling process. If you’ve decided that you want to become a homeowner, it’s important to understand the home buying process and what you need to do to ensure you’re getting the right home that matches your budget, as well as your needs and preferences. To help you get started, we have listed some of the most crucial steps in buying a home. From pre-approval to the final walk-through, always try to be objective and to be cautious in order to avoid mistakes that can be costly down the road. It also pays to work with an experienced Realtor who can help you in making well-informed decisions.
- Getting a mortgage loan is a necessary part of every home buying process. That said, it’s not always easy to find the best deal for different kinds of buyers. Exploring your loan options is one thing, and improving your chances to qualify for the one you want is another story. To get a low interest for the mortgage type you want, consider improving your credit score. In this blog post, we discuss several things you can do have a credit score that can lead you to a lower-interest mortgage, such as settling debts, keeping accounts open, and correcting factual errors.
- The homebuying process becomes a smooth and enjoyable ride when you work with the right professional partner. That’s why asking the right questions is important when you interview your real estate agent prospects. There are many dimensions involved in buying a home, so be ready with a list of detailed and substantial questions that will help you really dig into what local real estate pros in your area can offer. Need help planning your real estate agent interview questions? Look no further than this list from Warner Robins Home Search. With 10 essential guide questions, plus a bonus 11th question to help you seal the deal, you can have an easier time zeroing in on the ideal partner for your homebuying adventure.
- When you partner with a real estate professional who really takes the time to get to know you and what you desire in a home, the process of finding a place to call your own becomes so much easier. But as the saying goes, “It takes two to tango,” and maintaining a good business relationship with your real estate agent is key to a smooth and enjoyable home buying process. What are the things that a real estate agent would like their potential clients to know? What are the things that can make the entire process work well for the both of you? Read on for more.
- Are you looking for the ideal mortgage that will help you navigate considerable financial limitations? Financial assistance from the US Department of Agriculture might be the solution to your needs. With no down payment requirements, low interest rates, low monthly loan insurance premiums, and flexible credit requirements, USDA loans provide a huge boost for homebuyers in rural and suburban locations. Learn more about how you can maximize a USDA loan when you buy a home in Middle Georgia. This guide will walk you through the eligibility requirements, loan types, and regional income limits that will determine if you can qualify for this type of mortgage option.
- When you’re in the market for a new home, one of the most important factors to consider is location. Once you dive deeper into exactly what makes an area a “good” location however, it can be a bit challenging as there are so many factors to think about.
Arming yourself with the right information and creating an organized strategy before starting your search is key. It also helps to keep in mind that there’s no such thing as a “perfect” location, but as long as you do your research and prioritize all of the things that matter to you, you’ll be able to choose a great area that will accommodate your lifestyle. Take a look at this article for more tips on how to choose an ideal location.
- Unable to visit a house for an in-person viewing? This is no longer a problem, thanks to the dawn of live virtual open houses and home showings. The experience will be different, of course, because you will not be present at the property to scrutinize its every nook and cranny. But do not let this deter you from your house-hunting plans. Warner Robins Home Search has your back with this helpful list of 10 essential questions to ask a listing agent or home seller during a live home tour. With this guide, you can stay on top of every detail you need to know about the property you will put your money into.
- Closing costs can amount to up to 5% of your home’s purchase price. Therefore, if you’re paying $200,000 on a new home, you would need to shell out a maximum of $10,000 to pay for closing costs. The fees that make up closing costs include any or all of the following: title fees, title insurance, credit report fees, appraisals, and administrative or underwriting fees for processing mortgages. While closing costs can’t be avoided, some fees can be negotiated down or taken off the table completely. This article shows you ways you can save hundreds, if not thousands of dollars, on closing costs.