Buyer Tips

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!