Preparing to purchase!!

As buyers, especially first time home buyers, come into the market place I feel that being prepared is parmount. Take the time to sit down and thoroughly discuss your wants and needs as it pertains to your purchase. Consider location, schools, neighborhoods, how many bedrooms, how many bathrooms, size, taxes, insurance, payments, local traffic and finances. Create a pros & cons list of what you are looking for before setting appointments to preview homes. Take a strong look at your current household budget!

Contact a lender you feel comfortable with. Take the issues you discussed above with you to your lender and have a heart to heart discussion. You may want to do the same with your CPA. Make sure all of this falls with in your budgets game plan. Most buyers have a strong idea of what they can afford before establishing contact with a lender. Get an approval letter from your bank stating the optimum price range they think you should be searching in. Armed with this information, take the time to let it sink in and make sure it fits with your overall budget plan. Only you truly know how your budget works for you.

Know your local housing market by doing research and tons of it. Check tax records, talk with real estate agents, and check the news papers to gain the information you need. Research the neighborhoods your are interested in to know what homes have recently sold for in those neighborhoods. In the age of the internet there are plenty of avenues to gain the information you seek!

If you plan to choose a REALTOR to help you with this process, take the time to ask freinds, co-workers, and family if they have anyone in mind. If not, most real estate agents today have websites, so finding an agent shouldn't be hard to do. Interview them to see if they are truly a good match for you. Once you have found the agent you wish to work with, have them create CMAs on the properties you are interested in. This will give you a true pulse of your local market and will help in narrowing down your list of homes. Your agent will cover in detail all that goes into a home purchse at the appropriate time, but by taking these steps you will have prepared yourself for finding that home that is right for you.