Tag Archives: Home Buying

The 2017 Spring Guide for Homebuyers

Home being sold Spring is fast approaching, and ‘tis the season of frantic home buying. Do you plan to buy your first home in the coming spring? You better prepare in the final days of winter as you face fierce competition in the housing market. Not to worry, though, as you can consult this guide to help in your preparations.

Step 1: Find an Agent

Team up with a real estate agent. They may be someone you worked with in the past or a referral by family or friends. You can also base your choice on their negotiating skills, time availability, and specialization. An agent can help you start the home shopping process while business is slow during winter. You can even learn upcoming spring property sales through your agent.

Step 2: Get Help from a Mortgage Planner

Besides an agent, you can also hire a mortgage planner. They can help you find the right mortgage loan with the best mortgage rates here in Salt Lake City and assist you with the whole financial process, so you can make informed decisions. With their help, you can save money in the long run.

Step 3: Visit Houses and Neighborhoods

Now, as you will be able to lock down on the best financing plan through a mortgage planner, you can start visiting homes to understand what you want out of a home purchase. You can look for open houses during winter that you can visit. At the same time, you can start analyzing neighborhoods that you like if they will fit your family and your lifestyle.

Step 4: Be Open to Early Purchases

Have you found a home you love? Are you willing to move at a moment’s notice? You can definitely purchase a home earlier than intended. Winter home buying can mean less competition and multiple offers on a single home. You can use these details to your advantage.

With these guidelines, you can easily find and purchase a home that you love by the time spring comes.

Busting Millennial Home-Buying Myths: Do They Still Want a House?

Mortgage Planner in St. GeorgeWith around 86 million Millennials in the United States, the generation offers a great opportunity for mortgage lenders. As part of the age bracket with the biggest purchasing power, Millennials could have a significant impact on the future of lending.

However, a lot of external factors come into play in their money-spending habits. Mortgage lenders don’t appeal to Millennials because of massive student loan debt and their apparent lack of interest in home ownership. However, recent studies have debunked most of the common Millennial home-buying myths.

Myth: Millennials Prefer Renting Over Homeownership

A survey conducted by Fannie Mae reveals that home ownership still trumps renting an apartment. While most young people put off buying a house, it doesn’t necessarily equate to the refusal to buy a home in later years. Most Millennials recognize the value of a home, especially since it affords a sense privacy, security, and better control over living space.

Myth: Student Loans Affect Home-Buying Power

There has been an increase in student debts, but studies show that this does not hurt ability to buy a house. In fact, college students with a diploma often have positive attitudes towards home ownership. Student loans only affected the home-buying power of students without a degree. Therefore, paying for student loans may be a problem, but it isn’t discouraging Millennials to buy a house sooner.

Myth: Millennials Are Aware of Financing Options

There is a common perception among Millennials that buying their own house at an early age is impossible. However, a 2015 Housing Survey reveals that Millennials aren’t even aware of how much a house costs, or the different loan and down-payment options available to them. Young workers would rather rent their own place because it appears to be a more economical option.

The biggest obstacle for Millennials in securing home ownership is a lack of knowledge of the financial options available to them. Young people in St. George may want to seek help from a mortgage planner for financial advice. After all, every buyer should first know how to finance a home before planning on buying it.

home buying

3 Professionals to Work with When Buying a Home

Home Buying Searching for your dream house can be a long and tedious process. Good thing you can work with different professionals to make the process less stressful. They have experience, knowledge, and a network of connections to help you look for the home that’s right for your budget, needs, and preferences. 

With these professionals by your side, you’ll definitely make more informed decisions.

Real Estate Agent

First, a real estate agent is who you need to start your search for properties for sale. An agent has access to different home listings and networks. Just discuss your preferences with your trusted agent and he will be responsible for giving you possible leads. Tell your preferred location, number of rooms, price range, and other factors. The agent will be there every step of the way until the signing of the final paperwork, so choose someone you can trust.

Bank or Lender

Another important aspect of home buying is getting the financial assistance you need. That’s when you need to consult a bank or a lender to negotiate a mortgage in Salt Lake City​ that’s right for your needs. American Loans suggests talking to three to five lenders and choose the deal that best works for you. To get a better deal, start improving your credit score now, as this plays a big part for when they evaluate your financial status.

Home Inspector

It’s important to work with a home inspector of your choice to meticulously evaluate the home you’re planning to buy. You can’t just seal the deal without checking all corners of the property. The inspector will see to it to uncover all issues regarding the house, including necessary repairs, replacements, and upgrades. This way, you can get a better deal with the seller.

These three professionals will surely help you make the home buying process a lot easier. With their expertise, you’ll get the perfect home you truly deserve.