Are You Ready to Pursue Your Dream House?

Let’s face it – purchasing your dream home may prove to be an uphill climb, particularly for a homebuyer who fails to prepare accordingly. Lucky for you, we’re here to help you make your homeownership dream a reality and ensure you can discover your ideal residence in no time at all.

Now, let’s take a look at three tips to help you get ready to pursue your dream house.

1. Establish Homebuying Criteria

Finding your ideal house can be quick and easy if you establish homebuying criteria before you launch a home search. In fact, with homebuying criteria in hand, you can narrow your house search and speed up the homebuying journey.

To create homebuying criteria, you first should think about cities and towns where you want to live. Next, analyze houses in your preferred cities and towns and consider home must-haves and wants. Once you know exactly what you want to find in your dream house and where you want to reside, you can schedule home showings and move closer to finding your ideal house.

2. Get Pre-Approved for Home Financing

Homebuyers rarely have all the money they need to buy a home. Thankfully, banks and credit unions offer a wide range of mortgage options to make it simple for homebuyers to purchase residences. And if you meet with banks and credit unions, you can review your mortgage options and get pre-approved for home financing.

Obtaining a mortgage may help you streamline your house search because it enables you to establish a homebuying budget that you can use to hone your quest to find your dream home. Perhaps best of all, getting pre-approved for a mortgage may help you resist the temptation to spend beyond your means to purchase your ideal residence.

3. Hire a Real Estate Agent

Navigating the housing market on your own can be challenging for first-time and experienced homebuyers alike. Fortunately, real estate agents are available who can help you take the guesswork out of pursuing your dream house.

A real estate agent is a housing market expert who understands what it takes to complete a successful home search. He or she will meet with you, analyze your homebuying goals and map out a homebuying strategy. Then, a real estate agent will work with you to help make your homeownership dream come true.

As you conduct your home search, a real estate agent will keep you up to date about new residences that become available in your preferred cities and towns. He or she also will set up house showings and offer insights into the local real estate market. Furthermore, if you find your dream house, a real estate agent will help you craft a competitive offer to purchase this residence. And if your homebuying proposal ultimately is accepted, a real estate agent will guide you through the final stages of the homebuying process.

Start your search for your dream house – use the aforementioned tips, and you can boost the likelihood of a successful homebuying journey.

Tips for Finding an Inexpensive House

You know that you want to buy a house, but you also don’t want to break your day-to-day budget to acquire a residence. As such, you’re in the market for inexpensive housing – something that can be tough to find in any real estate sector, at any time.

Buying a house can be difficult, especially if you’re operating on a tight budget. Fortunately, we’re here to help you take the guesswork out of finding an inexpensive house that matches or exceeds your expectations.

Let’s take a look at three tips to help you streamline your search for an affordable residence.

1. Evaluate How Long a Home Has Been Available

When it comes to finding an affordable house, it pays to check out how long a residence has been available. By doing so, you may be able to discover a bargain, even in a highly competitive real estate market.

If a home that has been available for many weeks or months, a seller may be more motivated than ever before to accept an offer that falls below his or her initial expectations. Thus, if you submit an offer below a seller’s initial asking price, the seller may accept your proposal in the hopes of getting rid of his or her residence quickly.

Of course, you should always ensure that a home offer is competitive based on a house’s age and condition, along with the current state of the real estate market. Because if you submit a “lowball” proposal, a seller likely will respond with an immediate “No” to your offer.

2. Look at Fixer-Uppers

A fixer-upper is unlikely to have everything that you want in your dream house. On the other hand, a fixer-upper likely is more cost-effective in comparison to a new house.

If you’re on the lookout for affordable housing, you should consider fixer-uppers. These houses may require some work, but buyers who are willing to allocate the necessary time and resources to perform myriad home repairs can transform these properties into dream homes.

3. Collaborate with a Real Estate Agent

For homebuyers who want to acquire a house without spending too much, it usually helps to hire a real estate agent. In fact, by working with a real estate agent, a homebuyer can streamline the process of acquiring an affordable residence.

A real estate agent first will meet with a homebuyer and learn about his or her homebuying goals. Then, this housing market professional can tailor a home search to complement a buyer’s budget.

Let’s not forget about the support that a real estate agent provides throughout the homebuying journey, either. A real estate agent will set up home showings, negotiate with a seller’s agent on your behalf and do whatever it takes to help you purchase an inexpensive house.

Ready to find a cost-effective house? Use the aforementioned tips, and you can accelerate the process of discovering an affordable home that you can enjoy for years to come.

Should You Go Outside Of Your Budget When Buying A Home?

When you think of your real estate budget, you should know that the more you spend on a home, the more overhead costs you’ll face. You’ll need to pay for things like real estate agent fees, attorneys fees, and other closing costs. The more you pay for a house, the higher all of these fees will be since they are usually percentage based. So, the overarching question is how do you budget and find a reasonable amount of money to spend on a home? 

Prioritize

Your real estate agent may show you a myriad of homes across many different price ranges. Each property will have pros and cons. You can look at seeing these homes as an educational experience. Viewing properties could even help you hone in on what you want in a home. There are a few good reasons to look at homes above your budget range. 

Housing Prices Could Rise Or Drop

When housing prices begin to rise, people tend to believe that they’ll keep climbing. The panic couldn’t be further from the truth. Eventually, the prices need to drop. The idea of buying a property and adding value is to make a bit of a profit back when you go to sell. You need to be prepared for anything when you head out to buy a home. Price changes will apply to you if you plan on living in your new home only for a specified period. If you don’t have plans in your future to move, you may not worry about home value changes quite as much when shopping for a property. 

Mortgages End Eventually


If you plan ahead, you don’t have to pay mortgages for the rest of your life. If you keep moving and taking out 30-year mortgages, you could be making mortgage payments forever. If the average family stays in their home for around a decade, that’s not a significant amount of time. Here, you’ll find a great reason not to max out your budget on a home. If you buy a less expensive house, you can get the mortgage paid off faster. You may even be able to take the mortgage out for a shorter term. Paying your home off more quickly allows your financial freedom. It’s simple, yet many people opt for a bigger house that they aren’t planning on staying in, causing a bit of a financial headache.

You Need A Rainy Day Fund


If you avoid maxing out your budget to buy a home, you’ll be able to save a bit for any emergencies that come up. You will be under less stress knowing that you have a little bit of money set aside in case your home needs major repairs, or you face a job loss or illness. In conclusion, it’s never a good idea to max out your budget on a home purchase.                    

Who Pays Closing Costs When Buying or Selling a Home?

The process of closing on a home can seem lengthy and complex if it’s your first time buying or selling a house. There are several costs and fees required to close on a home, and while it’s up to the individuals to decide who covers what costs, there are some conventions to follow.

In this article, we’re going to talk about closing costs for selling a house and signing on a mortgage. We’ll discuss who pays what, and whether there is room for negotiation within the various fees and expenses.

But first, let’s talk a little bit about what closing costs are and what to expect when you start the process of buying or selling a home.

Closing costs, simplified

If you’re just now entering the real estate market, the good news is you can often estimate your closing costs based on the value of the property in question. You can ask your real estate agent relatively early on in the process for a ballpark figure of your costs.

Closing costs will vary depending on the circumstances of your sale and the area you live in. In some cases, closing costs can be bundled into your mortgage, such as in “No Closing Cost Mortgages.” However, avoiding having to deal with closing costs often comes at the expense of a slightly higher interest rate.

If you are planning to buy a house and have recently applied for a mortgage, laws require that your lender sends you an estimate of your closing costs within a few days of your application.

Now that we know how closing costs work, let’s take a look at who plays what.

Buyer closing costs

In terms of the sheer number of closing costs, buyers tend to have the most to deal with. Fortunately, your real estate agent will help you navigate these costs and simplify the process.

They can range from two to five percent of the cost of the sale price of the home. However, be sure to check with your lender for the closest estimate of your closing costs. It’s a good idea to shop around for mortgage lenders based on interest rates as well as closing costs charged by the lender.

Here are some of the costs you might be asked to pay as a home buyer:

  • Appraisal fees

  • Attorney fees

  • Origination fees

  • Prepaid interest or discount points

  • Home inspection fee

  • Insurance and Escrow deposits

  • Recording fees

  • Underwriting fees

Seller Closing Costs

While the seller pays a larger amount of closing costs, sellers still have obligations at closing that can be just as expensive. The biggest expense for sellers is to pay the real estate commission. Commission usually falls in the vicinity of 6% of the sale price of the home. This covers the commission of both the seller’s and the buyer’s real estate agents. 


The main takeaway? Buyers and sellers both share the burden of closing costs. While the buyer has more expenses to take care of, the seller pays for the largest costs.