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Buying Tips
Information for Buyers
Buying Tips
Whether you have spent years saving and preparing to buy a home, or you still aren't sure if it is something you can even dream of, the questions surrounding a first-time home purchase can feel endless. Here are some tips to help you with the process of becoming your own landlord.
Prequalify for a loan
Being prequalified for a loan determines how much house you can afford. It also allows you to move more swiftly when you find the right house, especially when you aren't the only interested buyer.
Shop for mortgage rates and terms
A difference of even half a percentage point can make a huge difference in how much you pay over the life of a loan. For example, the difference in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5 percent is about $35 per month. Over 30 years, that's $12,600.
Features that help or hurt resale value
In some areas, a swimming pool actually detracts from a home's value and makes the home harder to sell. In neighborhoods with two-car, attached garages, a single-car or detached garage may impact the home sale and future value. We can point out features that hurt, as well as those that help, resale value.
Rate the houses you tour
After touring each home, write down what you liked and didn't like. Develop a rating system that will help you narrow the field down to the house that's the best for you.
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