Is it Great Time to Buy In Milton?

It depends on your situation.  The fact is, home prices and interest rates are both at very low levels.  Also, the Federal First-Time Homebuyer Tax Credit has been extended and expanded to include many repeat home buyers.  Also have home owner assistance programs for all kinds of homes and home buyers.  Still, that does not necessarily mean purchasing a home is right for you at this time.

If you want to discuss your options in purchasing a home, call us at 647-890-2346, or use the form below to send us an email.  We'll help you navigate the real estate waters.

Doing Your Homework

If you are a first-time home buyer, you might be a little nervous about all the unknowns of making such a large purchase. It is quite normal to feel that way when you walk into unfamiliar territory, especially because the decision to buy a home is a big step - for many people it is the largest transaction of their life. 

Pride of ownership is the number one reason why people desire to purchase their first home.  Homeownership also offers you and your family a sense of stability and security because it truly is making an investment in your future.  It means you can personalize your home according to your own tastes and preference, or turn up the volume on your stereo whenever you would like. 

After you decide to buy, there are many questions to be answered in order to get the peace of mind you need to move forward toward realizing your dream of owning your first home.  Some of these questions include:

• What monthly payment will I be comfortable with?
• How much house can I afford to buy?
• What kind of down payment will I need?
• What amount should I allow for closing costs?
• Which neighborhoods appeal to me?
• What features do I want in my new home?

It helps tremendously to be armed with this type of information so that you are adequately informed before you start looking at homes, and therefore you won’t be wasting your time looking at homes that either don’t interest you, or are priced outside of your budget.

Once you are familiar with the financing opportunities, you should complete the pre-approval process for a mortgage. This is an important step in the buying process.  You'll completely avoid the problem of thinking you qualify for a loan based on "doing the math".  A pre-approval means a lender has reviewed your financials and is making written committment to give you a loan, provided certain conditoins are met (for example, sufficient appraised value).

You'll also have an advantage if you find yourself in a competitive offer situation. All sellers will know that you are a serious buyer, not just a tire kicker.  And, with a pre-approval, you can move toward closing much quicker.  Those two factors will strengthen your negotiating position significantly.

Once you know what features you want in your new home, and what neighborhoods have homes within your budget, you’re ready to narrow down your options of available homes.  We can be a big help to save you time and frustration by providing homes that only fit your criteria, local market conditions, and information on the home buying process.

If you're looking forward to moving into your own home, want to discuss your options, or just have questions about the home buying proicess in general, call Me at 647-890-2346, or use the form below to send an email.