February 26, 2019
Are you buying a home for the first time? Ever?
Well, then you’ve come to the right place because I’m going to give you 8 strategies to follow.
Hi everybody my name is Ty Eden. I’m with Exit Realty Redefined, here in Wheaton Illinois. I’ve been a Realtor for about a year and half and I’ve been an investor for virtually my whole life. I work with Buyers, Sellers and Investors. I’m sharing with you 8 tactics to follow or 8 strategies to follow in this video series.
Now, I’m not going to cover all 8 in this one segment. I’m going to cover 2 and then I’ll have 3 more additional videos after this. So, keep an eye out. Watch this video to the end in order to get all the stuffs you want to get.
Point number # 6: Don’t skimp on the inspection
That is the last thing you want to do and why? Because home inspectors are trained, licensed with the state to go in to a property and pluck all the defects that are going into the house. The last thing you want to have happen is not employ the services of an inspector and what is it? $300 - $600 or something like that, the inspectors are going to cost you. Pay it! Because if you close on the house and there is something lurking that you’re not aware of or didn’t see, and it pops out it could cost you a lot of money. You can’t go back to the seller for it, because you had the opportunity for home inspection and you choose not to do it.
So, it’s worth the money, pay whatever it is and make sure that you’re comfortable with the home inspector and again this is where the realtor comes in as helpful. If you don’t know a home inspector, realtors, this is part of their circle of influence or their center of influence. Their going to partner with a home inspector or a few home inspectors that they are comfortable with that they know that’s going to treat you correctly and be fair and thorough. Because the realtor wants to see the transaction go through but at the same time, they want to make sure that your happy as well.
Don’t skip on the home inspection. All it does is it’s serves to benefit you after the home inspections done.
Point number # 7: Option B / Plan ahead
Plan on another plan. Have an option B and an option C. What do I mean by that? So, you’ve done all this upfront work. You followed most of the points or hopefully all the points that we’ve given you in this video series and something isn’t quite right or doesn’t turn out. You want to have that second best loan that you’re prepared to be able to accept. But you got to be able to pay for it.
Maybe your down payment is not enough. So, consider that FHA loan that’s only 3%. You can always refinance the home after you’ve lived there for a period of time. If it’s important to get the property do it how you see is going to be able to get it done for yourself with the idea you can always go back and refinance the loan at a later time and maybe get that better deal and put more money down on it.
Now this is point number # 8, this is the final point in our segment here. This is the last piece of information that I want to give you or share with you. Now, everything else that we have talked about is going through the process. But the most important part is: “Where do you want to live?”
Point number # 8: Location! Where to live?
Only you know that and questions that you have to ask yourself are:
What’s your lifestyle?
What is important to you: Shopping, schools, availability to major roads and highways?
Are you a commuter?
Do you work from home?
Do you entertain a lot?
Do you have kids or are you going to have kids?
The first house doesn’t have to be that final house. You can always settle on a starter home, live there until you get your family going and then move on to that dream house that you actually want to live in.
Do we want sidewalks and lamp posts?
Are we interested in a tight neighborhood?
Do we want acreage?
Do we want to be able to have a fence up and maybe have a dog?
Do we want a pool? And If there’s no pool can we put one in?
Is there a home owner association that we need to deal with?
What are some of the rules and regulations in that home owner association?
Ask these questions to your realtor, they can help point you to certain neighborhoods based on what your criteria is or what you and your significant other if you have one might be looking for. So, I hope that with this list of questions and things that you need to think about can help guide you towards the direction of making the choice of where it is that you want to live.
Thank you so much for tuning in. This is the last of our 8-point series, 4 videos talking about buying your first house ever and if you got value out of this video and any of the past videos please hit like and if your interested and continuing to be notified about future videos that will be coming out weekly, hit the bell and you’ll be notified. With that thank you very much for your time and good luck house hunting!