May 2, 2022
How to Successfully Complete a Home Buying Process and NOT Have Buyers RemorseReturn to Blog
You need to build a realistic budget. Many people have problems because they purchase a house they simply cannot afford. Building a budget that covers all major expenses will allow you to narrow down your home options to make sure you will be financially stress free. When you set a budget, you may not be able to get every single part of your checklist satisfied, but you can get a property, make changes to the house as you can afford them and build up equity in the home. Some make the mistake of purchasing a home that is too expensive and this has negative financial repercussions as the buyer struggles to afford and maintain the home with the high mortgage payments.
Create a list that includes your wants and needs. By doing so, this list will allow you to make sure things like repairs such as fixing the irrigation system or a new roof are prioritized before making personal decisions instead of a new bathroom. With your budget set, you may not be able to meet every single want and need, but you can try to meet the basic needs and some wants and make changes as you save up overtime.
Make sure that you understand all the mortgage types before you close. Understanding the financial implications of each option possible is essential in order to choose the right one for you. By having a better understanding of the types of mortgages and potential financial implications, it allows the investor/buyer of a home (in our case with Eb Stone Realty’s areas of concentration, for Florida real estate and land for sale in Florida) to make better financial and real estate decisions that are SMART. SMART decisions are the types of decisions that Eb Stone strives to help its clients make.
Understanding what closing costs are and making sure this is included in your budget is essential. Closing costs can be anywhere from 3 to 6 percent of the purchase price. Educating yourself on closing costs and ways to negotiate them can save you some money. These closing costs can cut into your profits as a seller, so having an understanding of these is crucial to make effective real estate decisions.
One of the most important steps is working with a trusted experienced realtor. This is where we come in. Eb Stone Realty is a real estate company that will help you make SMART decisions and move forward with confidence on all your real estate decisions so you can experience an emotionally satisfying real estate transaction, Eb Stone’s mission for its clients. Working with Chris Dyer (realtor/broker) or Melissa Dyer who both have worked in every area of real estate and can help you with anything real-estate related. Their focus is on homes in Palm Beach County and homes in the Treasure Coast. Here is the link where you can set up a no-obligation consultation call with a member of our team who can help you with your transaction or any questions that you may have about real-estate.