Romanian Times | Septembrie 2018

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ROMANIANTIMES
Buying a home in today’s sizzling market,
The all-time American dream!! To own your
HOME!! There has never been a better time to become a
homeowner, and if you are interested in buying a home,
but aren’t sure if you can afford it, I sure have good news
for you! The interest rates are still historically low, and
there are several things that you can do to stretch your
buying power. With the help of your Realtor and these
proven tips, you can become a savvy home buyer without
breaking your budget!
GET PRE–APPROVED. Your first step is to fill out a
loan application and go through the process of securing
financing. That way, when you’re ready to seriously
evaluate real estate, you’ll know exactly how much
home you can afford. And you can prove to a seller that
your offer is sincere. Your Realtor can easily recommend
you a loan officer. The process can be intimidating but
with the guidance of a professional, you will find it much
easier to navigate the entire process!
EXPLORE CREATIVE FINANCING OPTIONS.
During the home loan pre–approval process, ask about
ways to get creative with your financing. Low down
payment options, first time buyer programs. HUD
incentives as the $100 down payment might help
you afford more funding. Down payment grants are
also available in some instances and might be worth
investigating or discussing with your Realtor. Whatever
the case, make sure you thoroughly evaluate the terms
for the home loan you decide on.
SELL YOUR EXISTING HOME FIRST. Home
inventory is currently low, theprices havebeen increasing
steadily for the last year, and current homeowners
experience a faster sale. Although selling your existing
home before finding new real estate to buy can be nerve
wrecking, the inconveniencewill be offset by your ability
tomake an offer with cash in hand. Contingent purchases
are not the best when negotiating to buy a home. Having
your financing in order and your bags packed may give
you the advantage in a competitive market.
LOOK FOR VACANT REAL ESTATE. Perhaps a
seller’s job has transferred him out of the area. Or
maybe a family purchased a new home before putting
their existing one on the market. In any case, a vacant
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by Mara Circiu, Atlanta, Georgia
home could be just the best deal for a savvy home buyer,
so have your Realtor look for vacant property in your
preferred neighborhoods. And keep in mind, the longer
a house stays empty, the greater your negotiating power
will be!
FIXER-UPPERS. The HGTV channels have inspired
many homeowners to initiate and complete home
projects that speak volumes of their ingenuity, talent
and determination. If you’re handy with a paintbrush,
a toolset and gardening equipment, consider buying real
estate in need of cosmetic fixing. Property that lacks
curb appeal usually needs minor handiwork, or the yard
overhauled could end up being the home of your dreams
for a price you can afford.
LOCATION, LOCATION, LOCATION. It is not amyth,
these words are a Realtor’s mantra and they represent
the unique factor that will protect your investment in
the future. If you want to live in a trendy neighborhood,
but can’t afford a high home mortgage, consider buying
a dilapidated smaller home on a fabulous lot with great
exposure. In time, you’ll probably need to gut the
existing home and build from the ground up or contract
significant home improvements. But in the end, your
property value may skyrocket. And if your carpentry and
other construction skills are well–developed, you can
save even more and accrue “sweat equity” during your
remodel by doing much of the work yourself.
BANK FORECLOSURES. One person’s loss could be
your gain if you buy real estate in foreclosure. Although
the search for a decent foreclosure may take a while,
your Realtor should be able help. The U.S. Department
of Housing and Urban Development can be an excellent
resource for foreclosed properties. Because HUD houses
are sold at market value, your best bet will be homes that
need cosmetic work or even major repair.
MULTI-FAMILY HOMES. Sometimes, to buy a home
on a budget, you need to look beyond convention.
Buying a duplex, for example, and using one unit for rent
and one as your home, could be a great and steady way to
produce income and live almost mortgage free. Discuss
this option with your real estate agent and try to keep an
open mind about this possibility.
COZY HOMES. Living in the South, surrounded by the
fabulous Southern mansions, the temptation is great to go
after the “large” homes; however, if you can enjoy life in
an older and smaller home in a desirable neighborhood
or suburb, this could be your winning ticket to real estate
ownership.
THE CHEAPEST HOUSE IN THE BEST
NEIGHBORHOOD. You have your heart set on a specific
– and more than likely expensive – neighborhood. Maybe
it’s the schools that you’re interested in, or perhaps it’s the
close proximity to downtown or Lake Lanier. In any case, a
budget–savvy buyer will look for the least expensive home
for sale in the neighborhood. If you’re not in a hurry, you
can even play the waiting game to see what properties come
on the market. Your real estate agent can be a real asset in
this case by investigating potential sellers, and keeping you
updated with the new listings as they become available.
Buying real estate without breaking your budget will
require research and compromise. On moving day,
however, you’ll have the satisfaction of knowing that
your homework paid off! Should you need my assistance
in helping you during this great journey of finding your
home, I would be more than happy to do it-I am only
a phone call away, so please feel free to call me at
404.966.6377 or, if it’s more convenient for you, please
email me at .