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January 31, 2013

Home Buying Advice from the Wise Realtor

by terresteinbeck RODEO REALTY

It’s a question that looms for everyone considering a home purchase: How can I prepare for this monumental event? What must I do to transform a lifelong dream into a comfortable experience? True, there is no secret wisdom that can be decoded for the answer. Nor does there exist a wide open road that will whisk you to ultimate enlightenment. Nevertheless, home shoppers can take a number of practical steps to achieve their goals with maximum smoothness. Here are some of the most highly regarded stepping stones to home buying success.

Hunky Down Payment. Many industry gurus recommend plunking down a minimum of 20% for your down.  Remember, the hunkier the initial outlay, the lower and more manageable your monthly housing expenses will be. So start saving those pennies.

Longer Stays Pay. Generally speaking, don’t consider your home a stopover. Many real estate honchos agree that 5-7 years is the minimum amount of time owners should remain planted. Because homes typically appreciate over time, a buyer who stays glued to home sweet home stands an excellent chance of roping in some juicy profits. Also, home hopping isn’t exactly cheap. Things like closing costs, inspections, and moving expenses are sure to enter the picture, scooping bundles of cash out of your pockets.

Monthly Nut. In a perfect world, monthly housing expenses would be limited to your mortgage outlays. But they aren’t. Owners will be shelling out bucketsful for things like taxes, insurance, and quite possibly HOA fees. Factor all of these money-munchers into the mix before you sign on the dotted line.

Would you like to learn more about reaching your home buying goals with maximum satisfaction? Simply drop your questions and thoughts into the comment box. Or just reach out to our team directly.

And, of course, if you’re ready to discover the latest opportunities in the Beverly Hills real estate market, I’m ready to make it happen.  Call or email today.

Back soon.

Terre Steinbeck

(310) 666-4094  DIRECT

(310) 724-7100   OFFICE

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