Buying a home is the dream of millions all over the world. Unfortunately, for most, it is a dream that never comes true. The main reason for this is because most people do not know how to buy a home in a manner that makes it affordable.
Not to be worried though! By following these simple strategies you can make your home buying affordable and easy.
Do neighbourhood research:
Before committing to buy your first home take a virtual tour of the neighborhoods. Learn about their history, schools, colleges, transportation, and other facilities. Browse through the photos and talk to people who have lived in these places. Find out what they like best and least about living there, and how the area has changed over time. Buying your dream home is a big investment, so try to be well informed before taking any major decision.
Comprehend your budget:
A dream home costs money. Before you buy, you’ll need to know your budget. You can get some help by using online mortgage calculators, but every situation is different and you’ll want to consult with a financial professional who can tailor advice for your specific needs.
Buy a Fixer-Upper:
Associations of realtors, lenders, and other real estate experts agree that a good way to buy a more affordable house is to purchase one that needs minor cosmetic repairs. It costs less than a new one, appreciates in value faster, and gives you the opportunity to make the needed upgrades and remodels as per your likings.
Take advantage of real estate commission rebate:
Want to get a rebate for buying your dream home? First, make sure you purchase through an affiliated broker. Your participating broker will be well prepared with pre-approved lenders, loan scenarios and rebates for each one of them.
A realtor offers a rebate to clients who are represented by them in selling a home. This is a benefit to the client, because at closing any commission paid to the agent for representing the seller would not be included in the sales price and would be credited back to the buyer.
At Magnolia Realty, we understand the needs of today’s home buyers. We handle all the details of your real estate transaction and manage every aspect of your purchase so that you can focus on finding your dream home. Our rebate is applied towards your closing costs at settlement and reduces the cost of your home purchase by 1.5% (when seller offers a 2.5% commission) or 2% (when the seller offers a 3% commission).