How to Make Your Dream of Homeownership a Reality.

86% of buyers are getting information from a real estate agent!

Here are three reasons why working with a real estate pro is key:


1. The Full Transaction Is Complex. There’s more to real estate than finding a home online, and it’s a lonely and complicated trek around the web if you don’t have a real estate professional to also help you through the 230 possible steps you’ll face as you navigate through a real estate transaction. Determining your price, submitting an offer, and negotiating successfully are just a few of the key parts of the sequence. You’ll want someone who has been there before to help you through it.

2. You Need a Skilled Negotiator. In today’s market, hiring a talented negotiator could save you thousands, maybe even tens of thousands of dollars. From the original offer to the appraisal and the inspection, many of the intricate steps can get confusing. You need someone who is willing to be your advocate and can keep the deal together until it closes.
3. You Need an Educator. There’s so much information out there in the news and on the Internet about home sales, prices, mortgage rates, and more. How do you know what’s fact and what’s fiction? How do you know what’s specifically going on in your area? How do you know what to offer on your dream home without paying too much or offending the seller with a lowball offer?

Once you have a real estate professional securely in your corner, you’ll want to understand a little bit more about the homebuying process. Here’s a look at three important questions to think through.


1. How Can I Better Understand the Process, and How Much Can I Afford?
The process of buying a home is not one to enter lightly. You need to decide on key things like how long you plan on living in an area, school districts you prefer, what kind of commute works for you, and how much you can afford to spend.
According to ConsumerReports.org:
“Financial planners recommend limiting the amount you spend on housing to 25 percent of your monthly budget.”
Keep in mind, before you start the process of purchasing a home, you’ll also need to apply for a mortgage. Lenders will evaluate several factors connected to your financial track record, one of which is your credit history. They’ll want to see how well you’ve been able to minimize past debts, so make sure you’ve been paying your student loans, credit cards, and car loans on time.
2. How Much Do I Need for a Down Payment?
In addition to knowing how much you can afford on a monthly mortgage payment, understanding what you’ll need for a down payment is another critical step. Thankfully, there are many different options and resources available to potentially reduce the amount you may think you need to put down on a home.
If you’re concerned about saving for a down payment, start small and be consistent. A little bit each month goes a long way. Jumpstart your savings by automatically adding a portion of your monthly paycheck into a separate savings account or house fund. 

Bottom Line

If homeownership is on your wish list this year, take a good look at what you can prioritize to help you get there, and you’ll be one step closer to making your dream a reality.