Real Estate Help & Advice
  
Search by Category:   Search by Keyword

10 Tips for First-Time Homebuyers
September 26, 2006
 By: Chuck & Diana Ivas
RE/MAX Elite
630.325.5555
34 S. Vine
Hinsdale, IL 60521
Contact Us

  1. Be picky, but don’t be unrealistic. There is no perfect home.
     
  2. Do your homework before you start looking. Decide specifically what features you want in a home and which are most important to you.
     
  3. Get your finances in order. Review your credit report and be sure you have enough money to cover your downpayment and your closing costs.
     
  4. Don’t wait to get a loan. Talk to a lender and get prequalified for a mortgage before you start looking.
     
  5. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion.
     
  6. Decide when you could move. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area?
     
  7. Think long-term. Are you looking for a starter house with the idea of moving up in a few years or do you hope to stay in this home longer? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that suit you best.
     
  8. Don’t let yourself be “house poor”. If you max yourself out to buy the biggest home you can afford, you’ll have no money left for maintenance or decoration or to save money for other financial goals.
     
  9. Don’t be naïve. Insist on a home inspection and, if possible, get a warranty from the seller to cover defects within one year.
     
  10. Get help. Consider hiring a REALTORÒ as a buyer’s representative. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. And often, buyer’s reps are paid out of the seller’s commission payment.
 

Other Ivas Team Articles

» Hinsdale Realtor Duo Ranks Tops » Hinsdale Realtor Duo Ranks Tops for March and April at RE/MAX Elite ... [view]

» First Time Home Buyers Credit » $8,000.00 CASH as a refundable tax credit to first time buyers! ... [view]

» Confidence Key For Today's Buyers and Sellers » Heed Warren Buffet's voice in midst of a global financial crisis...  ... [view]

» Generation Guide » A Little Bit of Knowledge Goes a Long Way... ... [view]

» Yearly Home Appreciation Isn't That Bleak » The Forecast isn't as bleak as the Media would have you belive... ... [view]

» This may be the moment to seize » We are looking forward to this time as we are sure you are ...This may be the moment to seize ... [view]

» DownSizing Success Story » Sold Listing in Darien ... [view]

» 8 Strategies For Buyers in a Flooded Market » Buyers are in an enviable position, with plenty of homes on the market, ... ... [view]

» 8 Strategies For Savvy Sellers » 8 Strategies For Savvy Sellers ... [view]

» Mortgage Rates Will Change » Mortgage Rates Will Change Dramatically Very Soon for Half of Borrowers ... [view]

» Pathways to Professionalism » We Comply with the Pathways to Professionalism ... [view]

» ILLINOIS HOUSING STATISTICS » Illinois Housing Statistics from 2006 to 2007 for DuPage and Cook County.. ... [view]

» Thriving in a Perfect Storm » Facts about surviving in this market... ... [view]

» Facts You Should Know For Choosing The Right Agent » Facts you should know for choosing the right agent... ... [view]

» Home Inspections! » Prime deal killers? Home inspections! Agents surveyed say contracts can break over minor repairs... ... [view]

» THE TEARDOWN EFFECT - Hinsdale Face-Lift » Most natives hate it. Most newcomers love it... ... [view]

» Corporate Buzz Words » New Corporate Buzz Words for 2007 ... [view]

» Circle of Legends Award 2006 » Diana Ivas of RE/MAX Elite, Hinsdale, was named to the Circle of Legends... ... [view]

» Preparing Your Home For Showing » Once you have decided to sell your home, there are a number of things, which you can do, to help get the best possible price in the shortest amount  ... [view]

» 5 Factors That Decide Your Credit Score » Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score. ... [view]

» 7 Reasons to Own Your Own Home » Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying  ... [view]

» 10 Steps to Prepare for Homeownership » Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income... ... [view]

» Questions to Ask When Choosing a REALTOR » How long have you been in residential real estate sales? Is it your full-time job? (While experience is no guarantee of skill, real estate, like many  ... [view]

» 6 Creative Ways to Afford a Home » If your income and savings are making homebuying a challenge, consider these options. ... [view]

» Tips for Holding a Yard Sale » Hold a yard sale to reduce the clutter in your home and get rid of items you don’t want to move. ... [view]

» Hidden Home Defects to Watch For » No home is flawless, but certain physical problems can be expensive. Watch for ... [view]

» 8 Ways to Improve Your Credit » Credit scores, along with your overall income and debt, are a big factor in determining if you’ll qualify for a loan and what loan terms  ... [view]

» How Big a Mortgage Can I Afford? » (While experience is no guarantee of skill, real estate, like many other professions,... ... [view]

» What Your Home Inspection Should Cover » A Home Inspection is very important. Getting it done right is just as important. Use this article as a point of reference for your next inspection. ... [view]

» 5 Things to Do Before You Sell » Get estimates from a reliable repairperson on items that need to be replaced soon, such as a roof or worn carpeting, for example. In this way, buyers  ... [view]

» 10 Ways to Make Your House More Salable » Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing  ... [view]

» 5 Ways to Speed Up Your Sale » Price it right. Set a price at the lower end of your property’s realistic price range... ... [view]

» Moving Tips for Sellers » Give your forwarding address to the post office, usually two to four weeks ahead of the move... ... [view]

» 20 Low-Cost Ways to Spruce Up Your Home » Make your home more appealing for potential buyers with these quick and easy tips... ... [view]

» Does Moving Up Make Sense? » Answer these questions to help you decide whether moving up makes sense... ... [view]

» Tips on Buying in a Tight Market » Increase your chances of getting your dream house instead of losing it to another buyer, with these easy steps. ... [view]

» The Pros and Cons of Condos » Condominiums and townhouses offer an affordable option to single-family homes in most areas. But consider these facts before you buy. ... [view]

» 5 Reasons You Need a REALTOR » How Realtors are a valuable resource and partner when it comes to your home buying or selling needs ... [view]

» 10 Things to Take the Trauma Out of Homebuying » Home buying jitters? This article will help you settle your nerves and get you started the right way ... [view]

» The Smooth Move Transaction Program » After a homes sells, the buyer usually has five days to perform a home inspection. Usually, the inspector finds imperfections with the home. Then  ... [view]

» Tips for Finding the Perfect Neighborhood » The neighborhood you choose can have a big impact on your lifestyle—safety, available amenities, and convenience all play their part. ... [view]

» What Not to Overlook on a Final Walk-through » A Final Walk-through checklist. ... [view]

» Stop the Confusion Before It Starts...Knowing How Agents Work » When buying or selling real estate, you may find it helpful to have a real estate agent assist you. Real estate agents can provide many useful  ... [view]

» The Best Home Repairs - The Greatest Returns » In a Prepare-to-Sell study, agents list the small improvements that pay the biggest dividends when a home is sold. Many sellers overlook some of the  ... [view]

» Before You Sell - A Basic To Do List » In order to sell your home effectively you must make sure you have your home in top shape for viewing ... [view]

» Homeowners Insurance 101 » For most people, your home is your most valuable asset. That's why it's vital that you choose right homeowners to protect your property and  ... [view]

» 15 Marketing Strategies » The Ivast Team's 15 Marketing Strategies that will effectively sell your home sooner than later  ... [view]

» Spring Time Tips for the Home » Spring is the ideal time to rescue a house from the ravages of winter and prepare for the summer sun. Here are some home maintenance tips that will  ... [view]

 

HOME     ABOUT US    CONTACT US    PRIVACY POLICY    SITE MAP    Web Marketing by Dios Design