Avoid Deadly 1st Time Buyer Mistakes
If you find yourself in the market to purchase a home for the first time it is imperative that you educate yourself on the process. And an experienced Realtor and mortgage lender can help you with the process and you will avoid many of the most common mistakes and misunderstandings that first time home buyers make. Your home is not just a place to live but an introduction to the joys and responsibilities of citizenship, wealth accumulation and personal freedom.
v Choose the right realtor. Not all Realtors are created equal just as in any profession. Interviewing several local agents before deciding on which one to hire, I emphasize local agents that are familiar with the housing inventory and local real estate customs. I would suggest an experienced real estate agent who negotiates in your best interests and uses best practices. Your choice can make a big difference in reaching your real estate goal
v Question the Mortgage Lender. It’s important to be sure you understand exactly what your mortgage will entail: interest rates, lender fees and title and escrow fees. Not all loans are the same there are choices to make FHA loans, conventional loans, and adjustable rate mortgages are only some of the considerations. Be a wise shopper, loans are a product so it is important to compare rates and fees with other lenders to be sure you are getting the best mortgage and interest rate.
v Be Ready To Buy. The real estate market in Stockton and Lodi is very competitive with many homes selling in 1 to 10 days; highly desirable areas such as Brookside, Spanos Park and West Spanos Park are very competitive. Most buyers are looking at the same homes you are. If you hesitate, you may lose the opportunity to purchase your dream home. The best advice? Don't begin the process of viewing homes unless you are really ready to buy.
v Room to Grow. You may absolutely fall in love a house, and you can deal with the small bedrooms and laundry room in the garage, but will it be adequate 5 years from now? Remember the day you by a home and you need to think about selling the home, it is important to consider the area and quality of your home to attract future buyers.
v Be Competitive. We all want the best deal for the best price possible but this is a very competitive and why miss out on your dream home over a few thousand dollars when it won’t add much to the monthly payment. If you really want a home, be reasonable with your offer.
The Lilly Team at PMZ real Estate has been helping home buyers avoid some of the most common home buyer mistakes and achieve their real estate goals. Call Hugh at 209-479-9222 or e-mail us at thelillyteam@comcast.net for your buyer’s package. Visit us at www.hughlilly.com .
Stockton Neighborhoods: Brookside, Lincoln Village, Morada, Morada Ranch, Beck Ranch Spanos Park, West Spanos Park, Weston Ranch, Port of Stockton, UOP.
Stockton and Lodi Zip codes: 95208, 05204, 95205, 95206, 95207, 92209, 95210, 95212, 95215, 95219, 95242. 95240
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