Wednesday, March 17, 2010

Tips for the First Time Buyers

Going to buy your first condo home in Seattle? As a first-time buyer, you will have your hands full. From researching about the market to obtaining the best loan---there are lots of aspects to take note of. Your home is going to be one of your greatest assets in the upcoming days, so you just can not afford to make any error here. Here is a list of basic “Dos” and “Don’ts” that would make the whole purchase process simple for you.

1. Buying your first home means starting from the scratch. But it becomes a great learning experience for you. When it comes to buying your first condo, you must divide the task into four basic groups:
First of all, you must develop an idea about current market for Seattle condos.
Secondly, you have to work out a practical budget depending on how much you can afford.
After you have determined the budget, now you have to shop for the right loan.
Meanwhile you have to search for the Seattle condos that rightly support your lifestyle.
Fulfilling all these tasks to perfection is not easy. By taking a step-by-step approach, you can ease up the entire process.

2. Shop for the Seattle condos, browse through the websites and compare the prices of Seattle condos in different neighborhoods. Consult the established real estate information Web sites---they will provide you information you are looking for and even more.

3. Before starting your hunt for Seattle condos, make up a contingent list of professionals’ including a real estate agent, attorney, mortgage broker and a home inspector. They will help you locate quality Seattle condos that suit your needs as well as your budget.

4. Most importantly, before choosing the property, make sure how long you are planning to stick around. Pay heed to all your family responsibilities and professional commitments before you decide on the size, type and location of your first condo property.

1. Do not cross your budget and consider only those Seattle condos that you will be able to comfortably afford. Consider the factors such as the down payment, closing costs, monthly expenses and taxes to work out a practical budget.

2. Do not accept the very first mortgage that comes your way; shop around for the best deal. Avoid those multi-option loan products that make you confused.

3. Don’t judge your options by heart, weigh the options with your brain. Lifestyle is the key factor in choosing the right property at the right neighborhood.

To round it up: make your own research about the Seattle condos market, even though you have hired professionals for the purpose. It helps a great deal when you know in advance what you may expect.


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