The Karen Richards Group

Thursday, August 11, 2011

Buying Your First Home Can Be Scary!

Buying your first home can be a very daunting thought as there is so much that is involved.
Just a few of the concerns to consider are....
How much home can you afford?
How much space does your family need?
What is the monthly payment?
How much is the down payment going to be?
Will you be penalized when you move from your existing home?
How much will the upkeep on the new home be?
Do you have enough furniture or too much furniture for the new home?
Where is the new home going to be, just across town or across the country?
What are the taxes on the new home?
Will you live close to work or commute?
All of these question by themselves are fairly simple to answer but when combined together and then add in all of the questions that are going to arise in the process one can find the whole prospect of home buying to be somewhat overwhelming.
What is the solution? Find yourself a knowledgeable and experienced real estate agent who practices real estate on a full time basis. The ideal candidate should be operating from a strong brokerage and at a minimum be closing at the national average of twelve transaction per year if not more.
Why use an agent? A good agent will have solutions to most of the above mentioned home buying concerns or have the resources to provide solutions and answers through the brokerage. It is a common misconception that an agents job is finding the house to buy but the reality is that an agents job is much like the roll a lawyer plays. Contract negation and review, assisting in the financing process, interpreting inspection are just a few of the main items t a great agent will address in the home buying transaction. Addition services may cover items such as helping to find a moving, locating a good insurance agent, vetting a referring quality home repa companies and assisting with the utilities.

Many great agents go above the norm and educate themselves on the financing side of the business and may actually know more about down payment assistance programs and government grants than the average mortgage professional.
If home ownership is your dream but you are afraid that the time is not right due to the current economic conditions I encourage you to search out a well qualified agent and ask them if the time is right and what are the options that are open to you. I cost you nothing to find out what your options are.
If you are thinking about a new home in the Dallas Texas area three great communities are Frisco Texas, Plano Texas, and McKinney Texas.