Posted by Mary-Lou McDonough on 3/5/2018

After a home seller accepts your offer on a home, the next step usually involves a home inspection.

At this point, you'll hire a home inspector who will walk through the home you'd like to buy and offer expert insights into the residence's strengths and weaknesses. Then, you'll be able to assess potential issues with a home and determine whether to move forward with a home purchase.

A home inspection can be stressful, particularly for a first-time homebuyer. Lucky for you, we're here to help you take the guesswork out of home inspections.

Ultimately, there are many questions to consider after a home inspection is completed, including:

1. What did the home inspection reveal?

A home inspection offers unparalleled insights into a residence. It enables you to look beyond a house's surface and find out whether major repairs will be required both now and in the future.

Hiring an experienced home inspector is paramount for homebuyers. With an experienced home inspector at your disposal, you'll be better equipped than others to identify "hidden" problems within a house.

Also, don't forget to review a home inspection report closely. With this information at your disposal, you'll be able to understand whether a residence meets your expectations.

Be sure to consider the long-term value of a property as well. Remember, a home that you plan to purchase should be able to serve you well for years to come. But if you encounter myriad home issues during a property inspection, you may want to consider rescinding your offer on a residence and restarting your search for the ideal house.

2. Are there major home issues?

As a homebuyer, it is important to be able to identify the differences between major and minor home issues.

For example, if there are tiny cracks and chips in the paint on a kitchen's walls, these issues are minor. In fact, you may be able to repair such issues quickly and effortlessly.

On the other hand, an old, inefficient furnace can cause major headaches. Without a properly functioning furnace, you may struggle to heat your home in winter. Meanwhile, it may cost several thousand dollars to replace this furnace.

If you encounter problems with a residence during a home inspection, consider the costs associated with these issues. By doing so, you'll be able to determine how much you may need to spend to correct such problems and can proceed with a home purchase accordingly.

3. What should I do next?

An informed homebuyer will be equipped with the knowledge and insights needed to make a great decision.

Consider the problems that were discovered during a home inspection. If you can fix home issues without having to commit substantial time and resources to complete various home maintenance projects, you may want to consider moving forward with a home purchase.

If you encounter major home issues, you can always ask a home seller to perform home repairs. Or, you may want to remove your offer on a home altogether.

Working with a real estate agent is ideal, especially for homebuyers who want help with home seller negotiations. With assistance from a real estate agent, you should have no trouble determining how to proceed after a home inspection.

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Posted by Mary-Lou McDonough on 1/15/2018

Ready to enter the housing market and find your dream residence? Ultimately, there are many signs that indicate now may be the perfect time to buy a house, including:

1. Your family is growing.

If you recently got engaged to the love of your life, tied the knot with that special someone or have kids on the way, now may prove to be an ideal time to buy a house.

A home offers plenty of space, ensuring that you and your entire family can reap the benefits of a superb living space. Plus, many affordable mortgage options are available, making it easy for you to purchase a house without having to worry about breaking your budget.

Before you begin your home search, consult with a real estate agent you'll be glad you did! Your real estate agent can help you determine exactly what you'd like to find in a home, ensuring that you can purchase a house that meets or exceeds your expectations.

2. You've secured a new job.

Now that you've landed your dream job, you may want to consider pursuing your dream house as well.

With a new, high-paying job in hand, you may be better equipped than ever before to make monthly mortgage payments on a residence. Also, you can work with a credit union or bank to secure a mortgage that matches your budget.

Furthermore, if you've landed a job that is several hours away from your current location, you may need to relocate. And if you hire an experienced real estate agent, you should have no trouble finding a great residence quickly and effortlessly.

An experienced real estate agent understands the ins and outs of the housing market. As such, he or she can help you narrow your home search and discover the perfect home.

3. You're ready to make a change.

Are you getting tired of your current neighborhood or living situation? Or, do you want to relocate from a cold-weather climate to a warm-weather region? If you're ready to make a change in your life, now may be a wonderful time to purchase a house in a new city or town.

Buying a house represents a life-changing decision and should not be taken lightly. However, those who are ready to make a change may want to buy a home in a new city or town so they can settle down and enjoy life in a different part of the country.

For those who are considering a change, meeting with a real estate agent is paramount. Your real estate agent can offer housing market data to ensure that you can secure a terrific house at a budget-friendly price. In addition, your real estate agent can serve as a housing market expert who will be able to answer your homebuying concerns and questions at any time.

Employing a real estate agent can make a world of difference for a homebuyer. Collaborate with a real estate agent today, and you can explore a wide array of homebuying options.

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Posted by Mary-Lou McDonough on 11/20/2017

If you plan to buy a home in the upcoming days, weeks or months, it often pays to learn about the real estate market. By doing so, you can understand various best practices for purchasing a house and streamline the homebuying process.

Ultimately, there are several best practices for buying a house, and these include:

1. Become a Homebuying Expert

What differentiates a buyer's market from a seller's market? How do you submit an offer on a house? And what should you expect during a home inspection? These are just some of the questions that you'll need to consider to become a homebuying expert.

As a homebuying expert, you'll be better equipped than others to plan a successful homebuying journey.

Typically, a homebuying expert asks lots of questions and devotes the necessary time and resources to learn about the housing market. This individual also is open to expert homebuying advice and recommendations and will do whatever it takes to discover the right house, at the right price, regardless of the real estate market's conditions.

2. Get a Home Loan

For those who plan to buy a house, it helps to save money in advance. That way, you can shop for a house and have sufficient funds available for a sizable down payment.

Furthermore, you should start searching for a home loan as soon as possible. Because the sooner that you secure a home loan, the sooner that you can kick off a home search with a budget in hand.

To obtain a home loan, you should meet with several banks and credit unions. These lenders will evaluate your credit history, income and other financial factors and make a home loan offer.

After you accept a home loan offer, you can officially start your home search. And if you find a home that you'd like to buy, you can submit an offer without having to scramble to get a home loan at the last possible moment.

3. Collaborate with a Real Estate Agent

When it comes to buying a home, hiring a real estate agent is essential. In fact, a real estate agent will provide plenty of support throughout the homebuying journey, ensuring that you can discover your dream house without delay.

A real estate agent first will learn about your homebuying goals. Then, this housing market professional can help you narrow your home search.

In addition, a real estate agent will set up home showings, submit home offers on your behalf and keep you up to date on homebuying negotiations. Perhaps best of all, if you ever have homebuying concerns or questions, a real estate agent is happy to respond to them at any time.

Buying a home can be a quick, seamless process, particularly for those who work with a real estate agent. Reach out to a local real estate agent today, and you can move one step closer to making your homeownership dreams come true.

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Posted by Mary-Lou McDonough on 10/2/2017

Finding a mortgage lender should be easy, particularly for homebuyers who want to purchase a high-quality residence without having to worry about spending too much. However, many mortgage lenders are available nationwide, and the sheer volume of lenders can make it difficult to choose the right one.

Lucky for you, we're here to help you streamline the process of selecting the ideal lender.

Now, let's take a look at three tips that homebuyers can use to accelerate the process of choosing the perfect lender.

1. Know Your Credit Score

Your mortgage interest rate may vary based on your credit score. As such, you should learn your credit score before you begin your search for the right lender. This will enable you to boost your credit score if necessary something that may help you get a preferred mortgage interest rate.

You are eligible for one free copy of your credit report annually from each of the three major credit reporting agencies (Equifax, Experian and TransUnion). Request a copy of your credit report, and you can find out your credit score and map out your search for the ideal mortgage lender accordingly.

2. Meet with Several Mortgage Lenders

There is no shortage of mortgage lenders in cities and towns around the country. Therefore, you should allocate the necessary time and resources to meet with several credit unions and banks to explore all of your mortgage options.

Each lender can provide details about fixed- and adjustable-rate mortgages, how these mortgages work and other pertinent mortgage information. This information can help you make an informed decision about a mortgage.

In addition, don't hesitate to ask questions when you meet with a mortgage lender. If you obtain plenty of information from a mortgage lender, you'll be able to understand the pros and cons of various mortgage options and make the best choice possible.

3. Review a Mortgage Closely

A mortgage may enable you to secure your dream residence, but it is important to understand all of the terms and conditions associated with a mortgage before you select a lender.

For example, if you decide to purchase a condo, your mortgage might only cover the costs of your property. Meanwhile, you still may be responsible for condo homeowners' association fees that total hundreds of dollars each month, so you'll need to budget properly.

Of course, you should feel comfortable working with a mortgage lender as well. The ideal mortgage lender should be available to answer your concerns and questions at any time and help you stay on track with your monthly mortgage payments.

If you need extra assistance as you consider the mortgage lenders in your area, you can reach out to a real estate agent for additional support. This housing market professional can provide insights into mortgage interest rates and may even be able to connect you with the top local lenders.

Take the guesswork out of finding the right mortgage lender use these tips, and you can move one step closer to getting the financing you need to buy your dream residence.

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Posted by Mary-Lou McDonough on 2/27/2017

Let's face it buying a home is rarely simple. As such, you may need extra help along the way to ensure you understand the ins and outs of purchasing a house. So what does it take to become an expert homebuyer? Here are three homebuyer education options that are available to homebuyers nationwide: 1. Family Members and Friends Did a family member or friend recently purchase a house? If so, you may be able to lean on this individual for support as you explore the real estate market for the perfect home. Typically, a family member or friend can serve as a reliable source who can share his or her past homebuying experiences. This individual also might be able to recommend a real estate agent who provided outstanding support to him or her in the past or suggest areas where you may be able to find a home that fits your budget. Family members and friends, of course, can help you minimize stress throughout your search for the right home, too. Thus, you should be able to rely on them for a helping hand as you explore the housing market. 2. Networking Groups and Workshops Did you know that networking groups and workshops may be available that can empower you with insights you need to find the right home immediately? That's right, and in many cases, there are no costs to participate in these groups and workshops as well. Usually, a networking group serves as a collection of homebuyers with a common mission to discover a great house at an affordable price. It is important to note that networking groups are scattered across the country. And in order to find the right networking group, you may want to search websites like Meetup and Facebook. Homebuyer workshops occasionally are held at various locations nationwide by homebuying experts who are happy to share their knowledge. In many cases, cities and towns also will host free homebuyer workshops, enabling you to learn what it takes to purchase a house quickly and effortlessly. 3. Real Estate Agents When it comes to becoming an expert homebuyer, there may be no better resource at your disposal than an experienced real estate agent. Because with the right real estate agent at your side, you'll be able to explore a broad assortment of high-quality houses any time you choose. To hire the right real estate agent, you should be prepared to meet with several real estate professionals and discuss your homebuying needs with them. By doing so, you'll be able to find a real estate agent who you are comfortable working with and possesses the skills and expertise needed to ensure you can find your dream home without delay. Purchasing a house can be a stressful, time-consuming process, but receiving homebuyer education from multiple expert sources ensures you are better equipped to buy a house that fulfills your needs. Utilize the massive collection of homebuyer educational resources that are available, and ultimately, you can improve your chances of purchasing a home that you can enjoy for years to come.