Home ownership is the American dream! For many it involves the leap from renting to the responsibility of ownership.  Because of the many pitfalls, hidden or ignored because of the emotional response or excitement, the result is not always happiness.

Almost every first-time buyer needs an experienced, knowledgeable Realtor with integrity to help evaluate the acquisition costs, financing options, ownership costs, development of an owner budget and identification of an appropriate price range.

My job is to provide the information to help decide if this is the right decision now for my client, and then guide them around the pitfalls.  I offer this guidance on all the following.

Exiting the existing lease, financing costs, home inspections, moving expenses, cash requirements I own and manage apartment units.  Knowledgeable landlords will either have lease provisions for an early buyout or reluctantly, will negotiate with a tenant wanting to purchase a home.  I provide this type of consultation.  I can also provide reasonable estimates of the cash needed to obtain financing, home inspections, costs of moving and start-up costs for home ownership (real estate taxes, insurance, utility deposits).

Negotiating the optimum financing and obtaining pre-approval for a mortgage.  As a realtor I work with all the local lenders and am familiar with outside sources of loans.  Rates and term change frequently and vary between lenders.  It is important to understand the difference  between a pre-qualification letter and a pre-approval letter.

Understanding the effect of your credit score and how to improve it.  Interest rates and terms are affected by your credit score.  In many cases you can improve your credit score. I can help you do this.

What does it cost to own a home?  Home ownership may be the American dream, but if you don’t understand all the potential costs it can be a financial disaster.  I can walk you through the steps of preparing a home budget.

What can I afford? Each first time buyer engages in a struggle between affordability and desirability.  Discretion is required. A good Realtor with integrity should discourage consideration of homes that realistically are not affordable or suggest alternatives where sweat equity may increase affordability.

Location, Location, Location  Many first homes are the first step to a larger more expensive home.  Resale value is an important consideration.  Experience indicates there are factors in which a knowledgeable, experienced Realtor can bring to the table about location.

For articles on the subject of First Time Home Buyers go to joaneslinger.com and click on “Buyer”