This Is a Great Time to Buy That New Home!
Buying a new home, whether it’s the first time or simply moving on from your current home, is one of the most important decisions we will ever make. For most of us buying a new home will be the largest purchase and investment we make. Homes are purchased for different reasons; sometimes it’s done as an investment, others times it’s done so that parents have a place to raise their children, other times it’s a place to retire. Regardless of the reason, this is a great time to pull the trigger and make that purchase you have been planning for. Here are some things to keep in mind as you move forward.
Know your budget: Knowing your budget prior to entering this process is essential. You must know how much you can afford to pay for a monthly payment and what your quality of living will be at different price points. Purchasing a home can be one of the best things you do; but it can also cause a lot of stress and heartache if not done carefully and responsibly. Working with a quality lender can help you through this process and make sure you don’t purchase more than you can handle financially.
Do your research: Now that you know your budget and what you can afford its time to do some more research. Work with your lender to get pre-approved for a home and determine which type of loan program you will choose. Having these things complete will allow you to research the right community for you and your family. Choosing the right community and home makes all the difference in the world. If you have children, talk to some of the neighbors and drive the streets of areas you are interested in to see if kids are out playing. If this is an investment property, know the type of renter you are targeting and find a neighborhood that will fit. Choose a Real Estate Agent that knows the areas you are interested in and the values of the homes in it. This will help you negotiate the right price for the home you choose.
Have a plan: Benjamin Franklin once said, “If you fail to plan, you are planning to fail.” I love that quote and try to implement its core meaning into many aspects of my life. So much goes into purchasing a new home. Make sure that you have a plan in place and follow that plan. Plan for things such as a down payment, closing costs, furnishing the home, repairs that will come up down the road, being able to afford replacing those appliances or an old car, adding the features to the backyard you want. Utilizing the knowledge of your budget you now have and the research you have done will help bolster the plan that you put in place.
Control your emotions: Lastly, purchasing a home can be a stressful and emotional experience at times. Do your best to not let emotions dictate decisions. Stick to your budget, have confidence in your research and the plan you put in place prior to the process beginning. Doing so will ensure you put yourself in the best position possible.
This truly is a great time to purchase that home you have been dreaming of, especially here in Arizona! Don’t let this time pass by without taking advantage of the low rates and many opportunities out there to make a positive change in your life.
CONTACT ME TODAY TO FIND OUT WHAT YOU CAN QUALIFY FOR AND TO LOCK IN YOUR LOW RATE!
MARC TREJO – 480-467-1036