Buying Your Home

Step-by-Step to Home Buying.

1. Making the Decision to Buy

Buying vs. Renting

Today's low mortgage rates and flexible financing programs make this an excellent time to consider the purchase of your own home. With the money you are spending on rent, you could be building equity in your own home. Keep in mind that, over the years, your income most likely will increase faster than any increase in your mortgage payments. Rent payments, on the other hand, tend to increase—right along with your paycheck.

Financing Your Dream

Now is the time to contact a mortgage lender. There are many reasons to make this step one of the first in your home buying process.

1. You may need to take some extra steps to prepair your finances before you can qualify. Perhaps you need to pay off some debt, or save a little more money, or perhaps arrange a gift from one of your relatives. A good lender will review your present financial picture and help you plan for a future purchase.
2. You can find out how much home you can afford. With a simple formula showing your present obligations, a lender can determine what will be a comfortable payment allowing for life's emergency extras.

Now you are prepared to make an offer when you find the home of your dreams. Your offer will have the edge with the seller who is looking for the most qualified buyer.

2. Choose a Realtor With Care

The Victor Valley has an extremely "hot" market now. What does that mean for our buyers? There are very few homes for sale in each price range and often many buyers are competing for the same homes.

A good realtor can help you:

1. Your Realtor will be notified daily of new homes on the market.
2. At Shear Realty with a majority of home listings our agents often know of a property coming on the market before it is listed.
3. Your Realtor can provide additional information on the neighborhood, schools, shopping and churches in the area.
4. When you find your home you will want someone with years of experience in contract negotiation to explain your options fully.
5. Your Realtor will also assist with additional home buying services such as escrow, home inspections and home warranties.

3. Which Home is Right for You?

You have a lender and an agent; NOW for the exciting part... finding a home.

Clearly identify the most important features of a new home before you begin to look. Sometimes making a written list can help. Be sure to share these features with your Realtor.

Some Questions to Ask Yourself:

1. Is the location important?
2. Do I want to take care of a yard? Do I need space for animals?
3. If I buy a new home do I have extra cash for window coverings and landscaping?
4. Are there features I just have to have?

You will probably not find a home with everything you want. You will have to go through the process many times, weighing the pluses and minuses of the homes you see, until you find the home with the right combination of size, features, and price.

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