Buying Your El Paso Home

El Paso,Tx boasts one of the best real estate markets in the country.  For that reason, it is extremely important that as a home buyer, know exactly what you are getting yourself into when looking at purchasing a home. The questions surrounding a house purchase can feel endless, whether you've spent years saving and preparing to buy your dream home, or are unsure if you can afford the property you desire.

Here are some tips to help you navigate the road to home ownership…

Hire a real estate professional.
The first step is to select a professional to help you find your dream home and fine-tune your financial expectations. Before making a decision however, have your real estate agent explain the pros and cons of using a buyer agent versus a sales or dual agent.

Shop for mortgage rates and terms.
A difference of even half a percentage point can mean a huge savings 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 30 years, that's $12,600.

Prequalify for a loan.
Your third step should be to get prequalified, which determines how much you can afford. It allows you to move swiftly when you find the right home, especially when there are other interested buyers. It also indicates to the seller that you are serious and really can afford to buy this home.

Define what you want.
The next step is to create a realistic idea of the home you'd like to buy. What features are most important to you? Make two lists: one of the items you can't live without and one of the features you would enjoy. Refine the lists as you hunt for that special home. It is also helpful to search online to see what is currently available on the market. I can then show you houses that meet your expectations.

Visit properties.
Now you're ready to visit houses. Schedule your very own private open houses by calling me and arranging some showings, and keep track of the properties you've seen.

Rate the houses you tour.
After touring each selected home for sale, write down what you liked and didn't like. Develop a rating system that will help narrow the field down. For example, pick the house you like best on day one and compare all other houses to it. When you find a better one, use the new favorite as the standard.

Make an offer.
Once you've pinpointed your dream house, it's time to get serious about the financial and contractual side of the purchase. My assistance will be a strong advantage since you and the seller have different goals.

Arrange for a home inspection.
After your offer is accepted, set up a home inspection. It's common to find problems, including leaky roofs, cracked walls, insect infestations and foundation problems. I will help you find a reputable inspector, and will negotiate to get you the most for your money once the inspector's report is final. If you negotiate repairs as part of the purchase, ask for a "walk through" before finalizing the paperwork. Ask me about home protection plans, which may save you money in the near future.

Close.
Before your closing date, make sure you've made all necessary deposits and completed the paperwork-including mortgage, title, homeowner's insurance and any other paperwork required by local or state governments.

Prepare for life in your new home.
Before rolling out the welcome mat, consider some moving basics: arranging for an alarm company, turning on electricity, water and gas, cleaning or replacing the carpet, and notifying your local post office of your new address. The best time for renovations is often before you move in.

Limitation of Liability - The information on this website is provided free of charge for informational purposes only. By using this website, you agree that the publishers will not be held liable for any outcome that results from the use of the information contained on this site. Each real estate transaction is unique. Home buyers and sellers should consult with qualified professionals within their areas to receive advice relevant to their own circumstances.