When starting the search process for a new home, it's important to analyze your wants and needs first and then communicate that information to your Keeler Family REALTOR®. Here are some things you should consider:

• Do I have a steady income?
• Can I add a mortgage payment (or a higher mortgage payment) to my existing debt load?
• Will I be able to make a down payment?
• Do I have time to devote to buying a home right now?
• Do I need more space?
• Am I seeking the "pride/dream of homeowners"?

First time homebuyers in particular should consider:

• Can I afford both the mortgage and other expenses, such as electric, water, repair and maintenance costs?
• Do I plan to live in the house long enough to build equity?
• Do I have time to take care of a house - including responsibilities like mowing the lawn and repairing my property each spring?

Evaluate Your Needs and Wants:

Before you embark on your search for the perfect house, it is important that you make a realistic list in an attempt to narrow your choices of properties. This is something that your Keeler Family REALTOR® can help with.

Hunting for a home can be a time consuming process, especially if you have not determined in advance the parameters of your search. Many homebuyers make the mistake of misinterpreting a WANT as a NEED.

Examples of NEEDS:

• Enough square footage for comfortable living
• Enough bedrooms to accommodate your family
• Adequate number of bathrooms
• Eat-in kitchen
• Garage or basement for storage needs
• Lot size to accommodate children's play area

Examples of WANTS:

• Carpeting color, paint color, exterior color, roof color, etc.
• Pool or Jacuzzi (unless for medical reasons)
• Wood floors
• Bay windows
• Built-in entertainment center
• Skylights
  

Getting Financially Prepared:

Speak with a mortgage company or broker to determine your existing debt load, including school loans, auto loans, credit card debt. Investigate your loan options and then obtain pre-qualification with a lender.

Buying and Selling Simultaneously:

What to do when you are looking to move and you're not sure which should come first - buying your new home or selling your existing home:

• Communicate with your Keeler Family REALTOR® so he/she knows your needs and your timeframe.
• Carefully calculate your financial needs, preparing for a worse case scenario.
• Ask your Keeler Family REALTOR® about possible buyback programs.
• Investigate bridge or short-term loans options for paying both mortgages.
• Determine if the purchase of your new home is contingent on the sale of your existing home.
• Determine if you can afford two mortgage payments.
• Decide how much time you will need to leave your existing home upon accepting an offer.
• Investigate temporary housing.
  

For more infomation about purchasing property please seek the experience and knowledge of Keeler Family REALTORS® Contact Us today!

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