Get started as a new home buyer!

Most of people nowadays consider real estate as reliable investment. Why?

There are late nights, early morning, no weekends and vacations for you…but the payoff is that when you get one of your biggest decisions in your life and that’s real estate investing.

Real estate is an imperishable asset, ever increasing in value. It is the most solid security that human ingenuity has devised. It is the basis of all security and about the only indestructible security. – Russell Sage

According to Forbes.com, buying real estate can be a tremendous investment opportunity and a long term investment. You can spend 50% of your lifetime earnings in real estate. So, when you’re buying a house or a property you may consider it twice or thrice and make so much research before you purchase it. It’s a step by step process to make.

What you need to consider as a first time home buyers?

Here are some tips: 

1. You should know your needs: There’s a lot of option now in market, especially now that we are engage in technologies, sellers are tend to market in social media. And you might be confused on what to have because there are many properties that we called “good deal”. You may not notice years have passed you haven’t purchase yet. One thing you should do is to be clear on what you really want. You want Condo, stick with Condo; you want to invest House and Lot purchase it, consider your lifestyle you want because its value increases overtime.
2. Consider your present and long term plans: A house is a big investment that cannot be easily disposed. Think whether you’re going to stay in a specific location or not.
3. Check your finances:  Check your capabilities if you’re going to pay cash or your qualifications if through bank financing. Consider the years you’ll work for to pay your purchased property. Save up money for emergency or back up plan in case sudden loss of job (like how are you going to pay home loan) (foreclosed properties?) Is your savings enough to cover up your monthly amortization? Better check your finances.
4. Do market research: Find a home that is fit to your needs, lifestyle, finances and your future plans. You can do research at the comfort of your home by using your mobile phone and good internet, you can to real estate website, YouTube or Facebook.
5. Build or Buy? There are some cases that our needs are not available in the market, so you need to build. If you are to Build think about if you’re ready to handle the stress, finances in materials and contractors in building a house, working permit, having an architect or engineer in building a house. Now  if you’re really into buying a house package, always look for the opportunity for house expansion. (is it possible for me to have additional rooms, to have convenient parking and landscapes).
6. Due Diligence: Do research and background checks about the property and the developers or your real estate salespersons. Your investing millions and might ended up being scammed? Deal with licensed brokers/agents. If you’re buying a property direct to the owner better check the title if it is clean or not (if you’re not familiar with it consult to Real estate providers), go to registry of deeds or to municipal hall if they’re really paying for property taxes, homeowners association if they are paying for monthly dues to avoid future headache.

Get started to build your dream because prices increasing overtime. Real estate is also your financial asset. Are you now decided to invest in real estate? Contact us! We will help you to start your journey achieving your goal.