For The First Time Buyer.
You've picked a great time to buy your first home. Despite steady
appreciation of home prices, relatively low interest rates have kept the
costs of home ownership at near historic lows. You can enjoy peace of
mind working with Jim and Joyce Williams, the industry leader in
experience and service.
Here are some tips to help you with the process of becoming your own
Prequalify for a mortgage
Being prequalified for a mortgage determines how much house you can
afford. It also allows you to move more swiftly when you find the right
house, especially when you aren't the only interested buyer.
Shop for mortgage rates and terms
A difference of even half a percentage point can make a huge difference
in how much you pay over the life of a loan. For example, the difference
in the monthly payment on a $100,000 mortgage at 8 percent vs. 7.5
percent is about $35 per month. Over 25 years, that's $10,500.
Use Jim Williams as your Buyer's Agent
A buyer agent is legally responsible for representing the buyer's
interest in a real estate transaction. Generally, the buyer agent is
compensated by the seller at the time you purchase a new home. There are
some limitations to using a buyer agent, however. Before you decide,
have your Realtor explain the advantages and disadvantages of using a
Features that help or hurt resale value
In some areas, a swimming pool actually detracts from a home's value and
makes the home harder to sell. In neighborhoods with two-car, attached
garages, a single-car or detached garage may impact the home sale and
future value. Your Realtor can point out features that hurt, as well as
those which help, resale value.
Rate the houses you tour
After touring each home, write down what you liked and didn't like.
Develop a rating system which will help you narrow the field down to the
house that's the best for you.