Ann Marie Martin


Posted by Ann Marie Martin on 12/10/2018

When you think of your real estate budget, you should know that the more you spend on a home, the more overhead costs youíll face. Youíll need to pay for things like real estate agent fees, attorneys fees, and other closing costs. The more you pay for a house, the higher all of these fees will be since they are usually percentage based. So, the overarching question is how do you budget and find a reasonable amount of money to spend on a home? 


Prioritize


Your real estate agent may show you a myriad of homes across many different price ranges. Each property will have pros and cons. You can look at seeing these homes as an educational experience. Viewing properties could even help you hone in on what you want in a home. There are a few good reasons to look at homes above your budget range. 


Housing Prices Could Rise Or Drop


When housing prices begin to rise, people tend to believe that theyíll keep climbing. The panic couldnít be further from the truth. Eventually, the prices need to drop. The idea of buying a property and adding value is to make a bit of a profit back when you go to sell. You need to be prepared for anything when you head out to buy a home. Price changes will apply to you if you plan on living in your new home only for a specified period. If you donít have plans in your future to move, you may not worry about home value changes quite as much when shopping for a property. 


Mortgages End Eventually


If you plan ahead, you donít have to pay mortgages for the rest of your life. If you keep moving and taking out 30-year mortgages, you could be making mortgage payments forever. If the average family stays in their home for around a decade, that's not a significant amount of time. Here, youíll find a great reason not to max out your budget on a home. If you buy a less expensive house, you can get the mortgage paid off faster. You may even be able to take the mortgage out for a shorter term. Paying your home off more quickly allows your financial freedom. Itís simple, yet many people opt for a bigger house that they arenít planning on staying in, causing a bit of a financial headache.


You Need A Rainy Day Fund


If you avoid maxing out your budget to buy a home, youíll be able to save a bit for any emergencies that come up. You will be under less stress knowing that you have a little bit of money set aside in case your home needs major repairs, or you face a job loss or illness. In conclusion, itís never a good idea to max out your budget on a home purchase.                    





Tags: Buying a home  
Categories: budgeting  


Posted by Ann Marie Martin on 12/3/2018

For those who want to acquire a house, it helps to get your finances in order. That way, you can quickly and effortlessly navigate the homebuying journey without having to worry about how you'll afford your dream house.

There are many quick, easy ways to straighten out your finances before you embark on the homebuying journey, such as:

1. Assess Your Credit Score

Your credit score ultimately can play a major role in your ability to secure a great mortgage. If you understand your credit score, you may be able to find ways to improve it prior to conducting a home search.

It is important to remember that you are entitled to a free copy of your credit report annually from each of the credit reporting agencies (Equifax, Experian and TransUnion). Request a free copy of your credit report today, and you can take the first step to evaluate your credit score.

If you find that your credit score is low, there is no need to worry. You can always pay off outstanding debt to improve your credit score over time.

Also, if you identify any errors on your credit report, you'll want to address these mistakes immediately. In this scenario, you should contact the agency that provided the report to ensure any necessary corrections can be made.

2. Look Closely at Your Monthly Expenses

When it comes to buying a house, it generally helps to have sufficient funds for a down payment. The down payment on a house may fall between 5 and 20 percent of a home's sale price, so you'll want to have enough money available to cover this total for your dream residence.

If you evaluate your monthly expenses, you may be able to find ways to save money for a down payment on a house.

For example, it may be beneficial to cut out cable TV for the time being and use the money that you save toward a home down payment. Or, if your dine out frequently, cooking at home may prove to be a substantial money-saver that could help you speed up the process of saving for a down payment.

3. Get Pre-Approved for a Mortgage

With pre-approval for a mortgage, you can enter the housing market with a budget in hand. Then, you'll be better equipped than ever before to narrow your search to houses that fall within your price range.

To get pre-approved for a mortgage, you'll want to meet with banks and credit unions. These financial institutions can teach you about different mortgage options and help you assess all of the options at your disposal.

Furthermore, don't hesitate to ask banks and credit unions about how different types of mortgages work. This will enable you to gain the insights that you need to make an informed decision about a mortgage based on your financial situation.

If you need extra help as you prepare to pursue a house, you may want to hire a real estate agent as well. In fact, a real estate agent can help you find a high-quality house at a budget-friendly price in no time at all.




Categories: Mortgage   Buying a Home   Financing  


Posted by Ann Marie Martin on 10/29/2018

Purchasing a home may prove to be a good idea. In fact, there are many reasons to pursue a house, and these include:

1. You can purchase a home that you can call your own.

There is nothing quite like the feeling an individual typically experiences after he or she buys a house. If you conduct a search for your dream residence, you can enjoy this one-of-a-kind feeling in the near future.

Of course, if you decide to purchase a home, you may want to establish property buying criteria. This will allow you to hone your home search and accelerate the property buying journey.

As you put together homebuying criteria, think about where you want to reside and what features you want to find in your ideal residence. Then, you can begin the homebuying journey with a plan to achieve the best-possible results.

2. You could save money over the long haul.

Let's face it Ė the costs of renting an apartment, condo or house can add up over time. On the other hand, a home is a long-term investment that may help you save money in comparison to renting a property.

If you decide to launch a home search, you may want to get pre-approved for a mortgage too. Banks and credit unions are available in cities and towns nationwide, and these financial institutions can teach you everything you need to know about home financing. As a result, if you meet with banks and credit unions in your area, you can find a mortgage that complements your finances perfectly.

3. You can personalize your residence however you choose.

A house is more than just a place where you eat, sleep and store all of your personal belongings. And if you acquire a residence, you can transform an ordinary house into a personalized home.

As a homeowner, you can paint your home any color you choose, perform assorted house upgrades and much more. Therefore, homeowners enjoy unprecedented flexibility and can customize a house so it matches or exceeds their expectations.

For those who are ready to pursue a house, it often helps to hire a real estate agent. This housing market professional can offer plenty of guidance throughout the property buying journey and ensure you can quickly discover your dream house.

A real estate agent will keep you up to date about houses that fall within your price range, set up home showings and help you submit an offer to purchase your ideal residence. Plus, a real estate agent will negotiate with a seller's agent on your behalf to help you pay the lowest price for your dream home. And if you ever have concerns or questions during your home search, a real estate agent is ready to respond to them right away.

Ultimately, buying a home is a good idea for many people. If you hire a real estate agent today, you can instantly start a home search and move one step closer to acquiring your dream residence.




Categories: Buying a Home   buying tips  


Posted by Ann Marie Martin on 10/15/2018

The amount of time it takes to find the perfect residence varies from buyer to buyer. In some instances, a buyer may fall in love with the first residence that he or she views in person. Or, in other cases, a buyer may need to attend several home showings and open house events before he or she finds the right residence.

It ultimately may take more than a single day to find your dream residence. Lucky for you, we are here to help you streamline your quest for your dream house and ensure you can find the right home faster than ever before.

Now, let's take a look at three tips to help you accelerate your search for your ideal house.

1. Create a List of Homebuying Criteria

You know you want to buy a home as quickly as possible. With a list of homebuying criteria at your disposal, you'll be better equipped than ever before to discover a house that suits you perfectly.

Think about where you'd like to reside and the features you want in your dream house. Then, you can narrow your house search and move one step closer to finding a residence that matches or exceeds your expectations.

2. Get Your Finances in Order

Pre-approval for a mortgage can make a world of difference, particularly for a buyer who wants to speed up his or her home search. If you learn about all of your mortgage options, you can select a mortgage that complements your finances and enter the real estate market with a mortgage in hand.

Many banks and credit unions employ friendly, knowledgeable mortgage specialists. By meeting with various financial institutions, you can learn about a broad array of mortgage options. Plus, you can receive comprehensive insights into fixed and adjustable-rate mortgages and make an informed mortgage selection.

3. Collaborate with a Real Estate Agent

For those who want to quickly and effortlessly find their dream residence, it may be beneficial to collaborate with a real estate agent. In fact, a real estate agent can help a homebuyer remove the guesswork commonly associated with searching for a residence.

A real estate agent understands what it takes to discover a great residence at a budget-friendly price. First, he or she will meet with you and learn about your homebuying goals. A real estate agent then will put together a personalized homebuying strategy. Next, a real estate agent will help you put your homebuying strategy into action. And when you discover your dream residence, a real estate agent will help you submit a competitive offer to purchase this house.

As you get ready to conduct a house search, you may want to hire a real estate agent soon. If you have an expert real estate agent at your side, you can get the help you need to find your dream house. Best of all, a real estate agent will go the extra mile to ensure you can seamlessly navigate all stages of the property buying journey.




Categories: Buying a Home   buying tips  


Posted by Ann Marie Martin on 9/17/2018

A "lowball" homebuying proposal is unlikely to do you any favors, particularly if you want to acquire your dream residence as quickly as possible. In fact, after you submit a lowball offer, it may be only a matter of time before you receive a "No" from a home seller.

When it comes to buying a house, it helps to prepare a competitive offer. That way, you can increase the likelihood of getting a seller to accept your home offer and speed up the homebuying journey.

Now, let's take a look at three tips to help you avoid the risk of submitting a lowball offer on your dream residence.

1. Analyze the Housing Market

Are you searching for a house in a buyer's or seller's market? Are homes selling quickly in the current real estate market? And are houses selling at, above or below their initial asking prices? These are just some of the questions that homebuyers need to consider as they assess the real estate sector.

With a diligent approach to buying a house, a homebuyer can become a real estate market expert. This buyer can assess a wide assortment of housing market data, and by doing so, gain the insights that he or she needs to submit a competitive offer on any residence.

2. Understand a Home's Condition

A home purchase is one of the biggest transactions that an individual will complete over the course of his or her lifetime. As such, the decision to submit an offer on a house should not be taken lightly.

To make the best-possible choice, it helps to look at all of the available information about a residence. You should review a home listing closely and attend a home showing. In many instances, it may be beneficial to check out a house a few times to get an up-close look at it before you submit an offer.

The condition of a home will play a major role in how much you are willing to offer to acquire a residence. Therefore, you should learn as much as possible about a house's condition. And if you feel comfortable with a home, you should be ready to submit an offer that will match a seller's expectations.

3. Collaborate with a Real Estate Agent

Hiring a real estate agent generally is a good idea, particularly for a homebuyer who wants to reduce the risk of submitting a lowball offer on a house. A real estate agent can help a homebuyer prepare a competitive offer, as well as ensure that a buyer can enjoy a seamless home transaction.

Furthermore, a real estate agent will allocate the necessary time and resources to help you analyze a house. He or she will even offer homebuying recommendations and teach you everything you need to know about the homebuying cycle.

Avoid the temptation to submit a lowball offer on a house Ė use the aforementioned tips, and you can submit a competitive proposal to acquire your dream residence.