The Home Buying Checklist
The Home Buying Checklist
Six Tips to Help You Buy Your First Home
Video highlights:
*Things to consider when deciding on your housing budget
*Choosing where you want to live
*The pre-approval
*Attorneys, Attorneys, Attorneys, who should I hire?
*The house of my dreams is too pricey. What should I do?
*How long does the process take?
Video Transcript:
Are you thinking about buying a house but you don't know where to start?
Then my next video is a must watch for you if you're looking to buy a house but you don't know where to start then you've come to the right place I'm gonna share with you six tips that you can use today to save you a lot of money time and aggravation my name is Mark Schreier and I'm a licensed sales associate with century 21 American Homes Real Estate right here in Long Island New York the six, six tips as simple as they are they do work so tip number one know what you want to live only you can decide where that is do your research the average home owner takes about 18 months from the time they start their search to the time they're sitting in their sunroom while living room having a cup of coffee so make sure if you're thinking about moving in about two years you start that research now and what you should do think about neighborhoods think about proximity to the water we're here on Long Island if you want to live close to the shore then think check out the towns there check out the school districts ask friends and family if they're happy where they live maybe you go visiting somebody on a regular basis and you'll like that area we'll start researching it now before you start making offers and the bus the best place to do that is starting online research the town research schools everything you can find online by just googling ok number two your budget besides location budget is very very important how much you actually want to spend on this investment it's probably gonna be one of the largest investments of your lifetime so make sure you know your numbers the worst thing for people to do is when they shop for a house and they finally find a house they love and then they realize they can't afford it and wasted all that time and they get very disappointed so sit down with a mortgage professional and you can find them the same way you find any type of person or professional that you need ask friends relatives for recommendations and they will give you a pretty good idea of the numbers that you have to work with if you're 18 months out one tip I would share if you eighteen months of two years out you don't necessarily have to run your credit but you can give them all your numbers and then when you get closer to purchasing a house you want to get pre-approved well you've run your numbers and run a true credit report so you're ready to go if in fact you find a house your dreams and you want to place that order of that offer and I'm going to include another video that I made just on that fact how to get all your ducks lined up in a row in a very competitive market we interrupt my video for a special housekeeping announcement if you're new to my channel thanks for stopping by please remember to subscribe and click the bell for notifications the name of the channel is real estate 101 everything you need to know about buying and selling residential real estate if you enjoyed it please give me a thumbs up if you weren't too thrilled don't tell anybody also please remember leave comments in the comment section below they include in those comments things you liked about this video also include topics that you'd like me to discuss in future videos I'm trying to make a platform there of things that I wish I knew before I bought my first house now back to our video number 3 actually I went into that already number three was the pre-qual and number four closing costs when you are going to figure out how much money you need make sure you account for closing costs the more expensive the house is the higher the closing costs are going to be but make sure you consider that as well and one other thing when you're budgeting you have to include your utilities in that all the things you're gonna pay monthly if you have car payments so you have utilities you have car payments you have homeowners insurance if you like the coast and you want to live close to the water you might have flood insurance which can be an expensive thing so make sure you consider that any other expense you might pay on a monthly basis the mortgage broker might not consider them into your your numbers but you should because you want to sort of maintain certain lifestyle and you don't want to be hit with this negative news after you're already in the house and realized where's my money going oh I forgot to count all those other things into the into the mix number four number five choose a realtor or oh and a real estate attorney and I say real estate attorney an attorney that specializes in real estate because they will definitely they have the experience and they will help the process run a lot other than an attorney who's a general practice attorney or specializes let's say in litigation and they're doing you a favor if they're not familiar with how the real estate process works you can end up losing either a commitment on your interest or it could just be more problematic in the long run and you can ask your attorney that you might know for a recommendation to somebody else if they don't feel comfortable doing the actual closing number six if you run your numbers and you realize you really can't afford or your invest you don't want to invest that much money in the house where you want to live net and the type of house you want to get now should you either wait and continue saving overtime or should you try to tweak certain things so you can make it work maybe get a smaller house maybe do other things sit down with a financial planner and say what can I do to get that house to work for me there are different vehicles out there with less money down and the your mortgage professional will help you with that scenario but sometimes you're set on a house you want that house don't let that be the reason why you don't move because you never know in the future your mortgage rates might be higher and even though you have more money now for a down payment you can't afford it or it's sort of a wash because the mortgage mortgage rates just went up and now you waited a year or two and your monthly nut is almost the same and your two years that you just paid rent so do the math think about it if you have any comments or questions definitely leave them below this is Mark Shriver from century twenty one American homes and thanks again for watching hello yes I'm talking to you the person that watched my video to the very end thanks a lot for watching if you enjoyed it please give me a big thumbs up subscribe to my youtube channel like me on Facebook I am a licensed real estate agent in New York State but I also have a referral service that deals nationwide so if you're looking for to buy or sell a house anywhere in the United States please send me a text contact me by your phone and I'll set you up with a local professional in your area if you're in my vicinity I'd be more than happy to help you out in any of your real estate transactions that you'd like this is Mark Schreier from century 21 American Homes and I'll talk to you soon
