Buyers

Purchasing a home is an exciting time, however, it can also be accompanied by a host of surprises and challenges. While delays, additional paperwork and unexpected situations do occur, buyers can take steps to feel more confident during this complex process. Don't let misinformation and lack of understanding stand in the way of your dream home! As you purchase your next home, stay in-the-know with these seven sound pieces of advice from the experienced agents at Asking Price Realty:

Obtain mortgage pre-approval:

Securing a mortgage pre-approval indicates that the buyer is a serious player in the housing market and helps the buyer determine a reasonable budget.

Analyze the neighborhood:

The surrounding neighborhood may provide valuable insight about the future value of a home for sale.

Explore equity loan conversion:

This type of loan allows borrowers to convert the equity in their home to cash and is sometimes a viable option for people who have a significant amount of debt with a high interest rate.

Understand the types of loans available:

Asking Price Realty will provide the guidance you need to navigate the rules of loan qualification.

Plan for a 20% down payment:

The benefits of a large down payment are significant and may include a reduction in fees, lower interest rate or decreased need for private mortgage insurance.

Understand potential tax incentives:

Purchasing a home may come with tax benefits that are not available to renters.

Consider a fixer-upper:

Foreclosures or homes that need maintenance can be a great investment, particularly in communities that are undergoing significant revitalization efforts.

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