Mikaila Rhodes Victoria Realtor®

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Becoming a Home Owner

Congratulations! You are taking your first step towards becoming a home owner, whether you are a first time home buyer or have been through the process before, nothing is more rewarding than finding your dream home. I want to help make the process as easy as possible for you. There are a few things to know before you start looking for that perfect home. Below are some reports that will help prepare you.

Stop Paying Your Landlord

The thousands of dollars in rent you’ve already paid to your landlord may be a staggering figure—one you don’t even want to think about.  Buying a house just isn’t possible for you right now.  And it isn’t in your financial cards for the foreseeable future.  Or is it?  The situation is common and widespread:  countless people feel trapped in home rental, pouring thousands of dollars into a place that will never be their own—yet they think they’re unable to produce a down payment for a home in order to escape this rental cycle.  However, putting the buying process into motion isn’t nearly as impossible as it may seem.  No matter how dire you believe your financial situation to be, there are several little-known facts that may be key to helping you step from a renter’s rut to home-owning paradise!

Know the Market before You Buy

The asking prices of most homes on the market indicate the current state of the market, and usually mirror the prices for which other similar homes in the area have recently sold.  In deciding upon a selling price, a home-seller must establish a balance between the desire to draw the highest offer and finding a price that will be reasonable enough to attract an appropriate pool of prospects, and competitive offers.  While most selling agents counsel their clients to consider this equation when pricing their home, keep in mind that some homes are not properly priced. 

Expenses to Expect

Budgeting for a new home can be tricky.  Not only are there mortgage installments and the down payment to consider, there are a host of other—sometimes unexpected—expenses to add to the equation.  The last thing you want is to be caught financially unprepared, blindsided by taxes and other hidden costs on closing day. 

8 Mistakes to Avoid When Buying a Home

You’ve been saving for awhile, weighing your options, looking around casually.  Now you’ve finally decided to do it—you’re ready to buy a house.  The process of buying a new home can be incredibly exciting, yet stressful, all at once.  Where do you start? 

Hire the Right Agent

Finding a real estate agent who is right for you requires doing a little homework, and asking the right questions.  Choosing an agent is a decision that could ultimately cost or save you thousands of dollars.  Keep in mind the individual you choose will be handling almost every maneuver in the biggest financial investment of your life.  Experience, interests, and expertise vary from agent to agent, so you should be asking very specific questions in order to align your own needs with the abilities of an appropriate representative.  Use the following list of questions as a guide to finding the agent that is right for you: