5 Tips for First Time Homebuyers


Ready to buy a home? Watch this first. In partnership with Beazer Homes, I’ve got 5 tips for you if you’re a first time homebuyer.

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Tips for first home buyers – Scott Pape’s tips – MoneySmart

Please note that first home saver accounts are no longer available.

MoneySmart asked the Barefoot Investor, Scott Pape, for his tips on buying a first home.

Visit MoneySmart at https://www.moneysmart.gov.au/tools-and-resources/life-events/buying-a-home#help for more first home buyer tips.

Scott covers topics such as:
– Advice for first home buyers.
– Is now a good time or should you wait?
– How much deposit first home buyers have to make.
– The best place to save your deposit.

MoneySmart is a website run by the Australian Securities and Investments Commission (ASIC) to help people make smart choices about their personal finances.

For more money tips and information visit https://www.MoneySmart.gov.au or visit our Facebook page at http://www.facebook.com/MoneySmartAu

My advice to first home buyers is there’s no rush.
People get Hills Hoist envy and they just want to get in as quickly as they can, and there are all sorts of people who will try to encourage that. So real estate agents will say the most important thing with real-estate is location, location, location; I’ve got a different take on that and mine is that it’s safety, safety, safety.
You want to make sure that you’re prepared because two incomes become one, generally have to feed three. First comes the marriage, then comes the mortgage, then comes the midgets. We call it the triple-Ms.

How much deposit should a first home buyer have?

First home buyers should have a twenty percent deposit. The reason I suggest people have a twenty percent deposit is that way you’re not going to be hit with lender’s mortgage insurance: that insures the bank against you being a deadbeat and not paying. And it can cost you five, ten thousand dollars. That’s a cost for you to insure the bank. It’s madness. It’s a waste of money.
So, if you have a twenty percent deposit, and then secondly, you’ve factored in maybe a 1% increase in interest rates – just so that you know you’ll be safe regardless of what happens – then you’ll be ready for the debt olympics, for the biggest decision of your life.
What’s the best place for your deposit

The best place to save your deposit is with a first-home saver account. I absolutely love these. There is no way – no place I know – that you can get a 17% return on your money, government guaranteed. You don’t even get that with a credit card company in most cases. The sting is that you have to keep it there for four financial years.

If you want to buy a home before that, and you’ve got some substantial savings, I would suggest a high-interest online savings account. At the Barefoot Investor we would call them mojo accounts – because they pay a high rate of interest, they pay no bank fees. And it’s a little bit harder to get to your money, you’ve just got to transfer it over, so it gives you a little bit of discipline as well.

Is now a good time to buy?

Is now a good time to buy? Should people be waiting? Where is the property market going? Nobody knows. My crystal ball is not working. The main thing that I say to people – the only thing that I say to people – is that it’s the right time to buy your home when two things occur. The first one is that you’ve got a twenty percent deposit and you’ve done your sums. And second you’ve found a home that you really love and that you can afford.

It’s the biggest financial decision that you can make and the best one you’ll make, or the worst one, depending on whether you’ve got the savings there. For me, I don’t try and predict the market because you can’t. What I suggest people do is that they focus on what’s happening with themselves.

There’s all these bankers and mortgage brokers and real estate agents trying to encourage you into the sale, but they’re not going to be there in twenty years when you have to pay it off. You’re the one who has to do, so you need to make decisions on your own.

5 Crucial Tips Anyone Buying a House Should Know – Home Buyer Tips

How Buyer Tips by Phillip Baiz and Nikki Nguyen of the Win Win Team at Keller Williams Realty Sacramento 916-234-3236

You’ve made up your mind to purchase a new home. You’re tempted to start looking at online listings to get a feel for the types of houses that are currently available. Before you give into those real estate temptations, there are a few crucial tips you need to bear in mind.

Know your Purchase Power
Before you even start looking at houses know how much your lender will pre-approve you for. Getting your heart set on a listing you can’t afford will taint your entire home buying journey. Keep in mind that there is usually negotiating room on a listing price, but try not to look at homes more than 10% above your pre-approved mortgage amount.

Decide what you are looking for
Write a list of your home search criteria. Decide on your preferred neighborhood, if you want a pool, how many bedrooms you want and how many baths. You may need to compromise on your wish list during your home search, but when meeting with top real estate agent in your area, they will help you establish your wants from your needs.

Negotiate Smart
Once you start negotiations with a home seller, make sure all conversations happen with your real estate agent and the home seller’s agent. Even if you strike up a cordial relationship with the home seller, don’t let any conversations happen without your agent(s) present. Let your agent do the talking to ensure the best deal.

Get Everything in Writing
Never agree to anything without getting it in writing. The smallest omissions can cause big problems later on. From a seller’s willingness to update bathroom faucets to an agreement to include specific furnishings in the real estate sale, every component of an offer to purchase must be in writing.

Have a Home Inspection
Home inspections are critical. A home inspector is there to spot the things you don’t know to look for, like if the chimney is in great shape or whether those little cracks in the foundation are a big deal. He’ll look for signs of water damage and check the insulation in the attic. If there are conditions that will need repair, you may be able to negotiate with the seller to drop the price. In other words, the inspection is worth every penny.

Buying a home whether you are a first time home buyer or an experienced pro, can be one of life’s most stressful decisions; however, being prepared and hiring a top real estate agent, ensures that your home buying process will run more smoothly.

Have a home to sell before you can buy? Log on to www.HomeValuesinSacramento.com to get your online home value NOW!

Home loan guide for first time home buyers in India

Our finance expert resolves some of your top home loan queries for the week, including joint loan, tenure eligibility and loan for leasehold property.

Watch full video: http://www.ndtv.com/video/player/the-property-show/residential-projects-starting-from-rs-30-lakh-in-mumbai-thane-navi-mumbai-and-pune/413561?yt

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2017 First Home Buyers Tips Why House And Land Packages Make Sense For First Home Buyers

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The Key Responsibilities of Real Estate Agents in North Carolina

real estate agents Charlotte NCAn important concern for most of the buyers and sellers are to find reliable real estate agents. There is a group of extremely industrious and honest agents and on the contrary, there are also some fraudulent agents enough to cash in on other’s expenditure. Hence, buyers and sellers need to be aware of a quality real estate agent to make property deals. Agents handle different tasks and have various major responsibilities to execute.

Responsibilities of Realtors

The following highlights some of the responsibilities carried out by the agents working for a real estate agency:

Informed: In the matter of properties, information is everything and hence, the real estate agents should have proper knowledge about the properties to be dealt. Normally, the clients who do not have exact idea about any area, the agents are helpful in locating areas matching their needs and make recommendations.

Estimate: One of the major responsibilities of real estate agents is to estimate the cost of the land and its minimum selling price on the market trends. As they keep track of Comparative Market Analysis (CMA), they got to know about the current rates of commercial as well as residential properties.

Promote: They use different means of promotion which include advertisements, enlisting in directories, open houses and so on. Marketing is extremely helpful in reaching out to a wider base of people.

Present: The details of the properties are communicated by the real estate agents from the sellers to buyers and hence, they are hired to represent on behalf of them and make purchase offers. First of all, they review the properties to gain detailed information about them which eases the job of marketing with a better scope. Agents explain the various aspects of kinds of properties like commercial, agricultural and residential to list a few.

Realtors Charlotte NC

Advice: Agents accompany the buyers while they go on inspections of the properties and provide advice on their suitability as well as value. They also provide advice on recent market trends, mortgages, legal matters and other stuff related to them.

Negotiate: As the agents represent buyers and sellers behalf, they negotiate on the properties to make successful deals. Moreover, they also conduct meetings with the dealing parties and buyers to negotiate on the transaction formats and their details.

Interview: Well, this phase is vital where real estate agents get to interview the clients. Here, questions are asked to clients purely based on their needs of properties, concerning which searches will be put on.

Coordinate: They work in coordination for property closings, oversee documents signing and fund payments. They also communicate with lenders, escrow companies, and others to review the terms and conditions of agreements regarding the purchase way before the dates are closed.
Prepare: Documentations of agreements, deeds, leases, closing statements are carried out by the agents for finalizing the real estate deal. The paperwork is vital and is the main document which is concerned to the deal.

There are certain review websites where customers share their personal experiences about various agencies which can be helpful to buyers. Here are some inside tips from one of the top real estate agents in the US: