Don’t let buying a home stress you out! Sure, it’s a big decision, but being informed can ease much of your anxiety. Here is some advice from zillow.com to keep your nerves calm during the buying process.
- Mortgages are such an important part of buying a home…probably the biggest part. Get all of the information you can. Mortgages have changed so much over the years, and there are many factors that are taken into consideration to determine which works best for your situation. Be sure you have a lender that you trust, someone you feel comfortable calling anytime you may have a question. After all, this is your money, and YOU are the one that tells it where to go. Don’t go into such a large commitment without knowing all of the facts and terms.
- Real estate and mortgage lingo can be confusing. You shouldn’t feel left out in the cold when your lender starts using unfamiliar words. If you just don’t feel comfortable talking to them directly, then maybe you would prefer talking to another professional. Of course, your REALTOR® may be a good option. Another avenue is to go through pre-purchase counseling to help you better understand the process and your finances as well. Call on a counseling agency. “Our job as home credit counselors is to demystify this crucial transaction by educating the people who come to us, so that when it comes time to buy a house, they know what questions to ask and what issues to look out for,” says Rick Harper, a senior vice president at San Francisco’s Consumer Credit Counseling Services.
- Your bank account can really take a hit with the down payment on a new home. Be sure you talk to your lender about whether you qualify for down payment assistance. You may be pleasantly surprised to find out that there is help out there for you!
- Not every lender will quote you the same rates. Just as you would shop around for a new car, you need to do the same with your mortgage. You don’t want to have any regrets after closing. Make sure you have done all you can to help yourself.
- As a homeowner, you will have expenses that will arise after closing. It may be a couple of months after you move in or a few years. You never know when something will come up. To keep from having a stressful financial crisis, put away some money for unexpected repairs like a new roof or a plumbing problem. Some recommend 3-5% of the home’s value is a good cushion to set aside each year. If that is out of reach, just do what you can. Hopefully you won’t have any major expenses for a long while after closing, but it’s always best to be prepared.
Home buying should be a fun experience. The more prepared you are, the more you can enjoy the process. We are always here to help ease any anxieties you may have. Call us TODAY @ 720-593-2014 to start shopping for your dream home. We strive to make the process as smooth and stress-free as possible. Your happiness is our #1 goal. We look forward to hearing from you!