Purchasing a home is a major milestone in life, whether it’s your first home or your third. While it may seem stressful, if you follow the proper steps, you can easily navigate the home-buying process. Serving residents of Central Wisconsin, the real estate agents at Coldwell Banker have used their knowledge and expertise to help aspiring homebuyers and sellers with their real estate transactions.
Here, the real estate agents at Coldwell Banker share the items every potential house hunter should know before buying a house:
Hire A Good Realtor
Potential buyers should consider hiring a realtor that works for them, rather than relying on the listing agent who represents the person selling a house. A real estate agent will not only help you navigate the buying process, but they will protect your best interests when handling the negotiations.
Buy A Home You Can Afford
Use an online calculator to see how much you can afford to spend on buying a house. Make sure you also keep other debts in mind and take into account that your mortgage company may approve you for a much higher amount than you can afford to take on.
For a rough idea, most mortgage lenders advise mortgage payments to be no more than 33% of your gross income. For further assistance, you can always go to a mortgage broker with any questions you might have.
Save For A Down Payment
It’s never too early to start saving up for a down payment! To ensure that you have smaller mortgage payments with a lower interest rate, you should try and aim to have a down payment of 20% or more on the real estate property.
Whether you’re buying a house or selling a house, if you’re located in the Wisconsin Rapids area and need guidance, the experts at Coldwell Banker are always here to help. Browse their selection online or call (715) 424-4800 to speak with a real estate broker and learn more about their services.