What Can You Afford When Buying A House In Alpharetta
What Can You Afford When Buying A House In Alpharetta by The Mary Ellen Vanaken Team
How Much Can You Afford To Purchase
There is no point in looking at properties in Alpharetta, Ga and falling in love with one when you can’t afford to purchase it. It's best to first determine your budget and THEN begin your home search.
Finding The Best Mortgage Loan
Almost every financial institution, issuing mortgages, requires a buyer to place a deposit on the potential home. Deposits can range from 3.5% to 20%, depending on the price of the home. As a general rule, mortgage payments should not exceed 30% of your gross income or you risk becoming overextended and unable to pay all of your monthly bills.
It's best to make an appointment first with a mortgage officer at a financial institution before looking at homes. Lenders may require that you have steady employment for the past two years. A credit check will be done and the loan officer will ask you for evidence of monthly income and expenses. If everything looks good, you will be granted a pre-approved loan for a specific amount of money.
Find An Alpharetta, Georgia Real Estate Agent
Once your finances are in order, it’s time to find an Alpharetta, Georgia Real Estate Agent such as Mary Ellen Vanaken and her team in Alpharetta, Georgia. Don’t settle for just anyone. Ask friends and family for referrals. Buying a home is probably the largest investment you will ever make, whether you are buying your first home or are upgrading to a larger home. The Mary Ellen Vanaken Team are experts in the Alpharetta area, and bring a wealth of knowledge and expertise about buying and selling real estate here. It's not the same everywhere, so you need someone you can trust for up-to-date information. Call 678.929.6529 to speak with The Mary Ellen Vanaken Team at Keller Williams Realty - Alpharetta, Georgia.
Looking For The Perfect Home
When you’re real estate agent has homes for you to view, take your time looking around. Don’t just observe the beauty or charm of the house. Pay attention to all details of the house that may require money to fix it. Look at the ceilings, walls, roof, and floors for water stains. Ask about the age of the heating and air conditioning units, basement for possible water problems, and kitchen appliances for wear and tear.
When you’re serious about a property, enlist the help of a home inspector or someone who knows about electricity, plumbing and mold issues. Have them give you a complete review/assessment of the home.
Making The Offer
When you’re ready to make an offer keep in mind that buyers seldom agree to the asking price of a home. Sellers deliberately set the asking price high so there is room to negotiate. Your agent will take your offer to the seller’s agent, and whether or not the seller agrees, an offer might go back and forth a few times. Once you’ve settled on a price and the real estate agent drafts a contract, it’s their job to explain the details before you sign the contract.
Close The Deal!
Once signed, there are several steps to complete before you receive the keys to your new home.
Inspection Period:
The buyer has the right to ask for a home inspection review by a professional. Depending on the area and the size of the property, this review can cost between $300 and $1000. Any issues found are the responsibility of the seller or resolution of the issue can influence the selling price.
Mortgage Contingency:
Once the inspection is finished and approved, it’s now time for you to finalize the mortgage. If you are not pre-approved you will have to produce proof of employment, debt documents, bank statements, and tax returns.
Final Inspection:
During a final inspection, you and your agent will visit the home once more to determine if problems with the property (if there were any) have been fixed and if there are no new issues.
Closing:
On the day of the closing, you will sit down and sign your name over and over again. When you’re all done, you will be handed the keys to the property. Now you are officially a home owner.
Contact The Mary Ellen Vanaken Team of Alpharetta, Georgia at 678.929.6529 today and allow us to assist you in finding that perfect Alpharetta home.
Alpharetta Georgia Homes For Sale $200,000 and under
Alpharetta Georgia Homes For Sale $201,000-$300,000
Alpharetta Georgia Homes For Sale $301,000-$400,000
Alpharetta Georgia Homes For Sale $401,000-$500,000
Alpharetta Georgia Homes For Sale $501,000-$600,000
Alpharetta Georgia Homes For Sale $601,000-$700,000
Alpharetta Georgia Homes For Sale LUXURY HOMES
What Can You Afford When Buying A House In Alpharetta
No comments:
Post a Comment