Friday, August 28, 2009

The Home Buyer's Check-List: What to Consider When Purchasing Your Home

Many benefits come with the purchase of your home, such as having a place of your own, having stable housing costs, having a sound investment, having a financial stepping stone and even having access to tax benefits. There are important criteria that should be considered when buying a home, regardless if you are a first-time home buyer, second home buyers or real estate investor. Knowing the home buying process will help make your experience a smooth and pleasurable one.

Set the stage for an easier home buying process.

1. Find professionals you can trust.
- Ask questions and express your concerns up front.
- Learn what to expect — and what will be expected of you.
- The right people will walk you through, talk you through — and see you through!
2. Start with getting pre-approved.
- Loan pre-approval gives you a rough estimate of how much you may be able to borrow. The process will help you figure out how much you can afford.
3. Determine the right financing for you.
- There are many loan programs available for home buyers, from FHA financing, to VA loans, to conventional loans and reverse mortgages. Your mortgage provider will help you weight the benefits of each and find the program that works best for you.
4. Shop for a home
- Make a wish list of the features you would like in your home, the area you would like to live and the factors that are most important to you. Discuss this list with your Realtor so that they can stream line the search process.
5. Make an offer and start negotiations
- It is important to discuss your offer process with your real estate agent to determine your particular needs. If the seller counters your offer, you may need to be ready to negotiate until you both agree to the terms of the sale.
6. Get a home inspection
- Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs
7. Shop for homeowners insurance
- Mortgage lenders require that you have homeowners insurance so be ready and be sure to shop around.
8. Sign papers
- You're finally ready to go to "close" on your new home! Be sure to read everything before you sign.

Your decision to buy a home is both a sound financial decision and a commendable achievement. SI Real Estate Investments and our skilled Tampa Bay real estate specialists are here to assist in this exciting transaction. The Tampa Bay housing market is moving fast and the SI Team can help buyers take advantage of the dramatically discounted prices while they are still favorable. Finding our clients the perfect home is our business.

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