Home Buyer Tips Budget

Home Buyer Tips Budget

Buying a home is one of the most important steps in one's life and there are a lot of factors to consider before making this decision.

Firstly, ALWAYS use a realtor - some people think they can do this on their own because of an online course they took or a weekend seminar they attended and this almost always never works out - they end up losing the deal and even worse money because of simple mistakes.

As a realtor, our job is to ensure that you as a client are educated on the market, assist you with finding the perfect home and the hardest/tedious part - negotiate the contract and get you the best deal possible! 

My background in sales, marketing and real estate over the past 12 years cumulatively has taught me that no matter the person or what their goal is, finding out what their priorities are can help them make their decision and this is done by 'screening' the candidate to identify what their priorities/pains are.

There are 4 things I always ask my clients to prioritize in order of importance (1-4; 1 being most important, 4 being least important). 

Regardless of whether they are a first time home buyer or not, this has proven to be helpful and even educate clients on what their needs are.

  •  Budget

  •  Schools

  •  Type of Home

  •  Location

Over the next four weeks, I am going to cover each topic in depth and share some of my personal experiences/stories with clients.

Today I will be covering Budget.

Ok, so you've made the big decision to purchase a home - before you start browsing online or looking at homes, you need to know what you can realistically afford.

 The 2 methods of paying for a home:

Cash up front - for those lucky few who have extra money sitting around :-)

Financing - most buyers finance (Convention, FHA or VA loans typically)

If you are planning on financing your home, the first step is to obtain a pre approval through a lender and/or a financial institution.

When choosing a lender to work with, make sure that you are completely comfortable with them in terms of communication style, information provided and credibility of their financial institution - always do your research to make sure you have picked the right person.

Once you know what you can afford comfortably then you can narrow down your search based on price - doesn't help to be looking at half a million dollar homes when you are only pre approved for $300,00.

Personal story/experience

I had a client, a couple, who were looking to lease a home for around $3,000 a month and their need was not only time sensitive but they ha.

After obtaining their pre approval, they found out that with approx. $40,000 down, which is what they would be paying annually in rent, they could get a very nice home that fit all their requirements.

I was able to find them a home in ONE day and 3 weeks later, they had closed and moved into their dream house.

The lender that helped them out in this instance was extremely communicative, worked at all hours and always available (I text him on a Sunday at almost midnight and got a response immediately!)

Almost a year later, they are so glad they made that decision and ended up saving money on monthly payments and overall!

Next week - Schools.

Be sure to visit my website www.IvyKessieRealEstate.com for more information.

*Financing information : http://bit.ly/1N4HFN1

Ivy Kessie Headshot
Phone: 469-347-4556
Dated: October 1st 2015
Views: 711
About Ivy: Ivy Kessie is a former healthcare consultant who has lived in Dallas for over half her life. Born to...

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