Romanian Times | Aprilie 2019

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ROMANIANTIMES
The all-time American dream!!
To own your HOME!! There has
never been a better time to becomea
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 ten proven
tips, you can become a savvy home buyer
without breaking your budget!
1. 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!
2. EXPLORE CREATIVE FINANCING
OPTIONS. During the home loan pre–
approval process, ask about ways to get
creative with your financing. Low down
paymentoptions,firsttimebuyerprograms, ***
Helpful Tips for Savvy Home Buyers,
by Mara Circiu, Atlanta, Georgia
USDA loans 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.
3. SELL YOUR EXISTING HOME
FIRST. Home inventory is currently low,
the prices have been 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 inconvenience will be offset by your
ability to make 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.
4.LOOKFORVACANTREALESTATE.
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 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
greateryour negotiating power will be!
5.FIXER-UPPERS. TheHGTVchannels
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.
6. LOCATION, LOCATION,
LOCATION. It is not amyth, thesewords
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 ifyour carpentryandother
construction skills are well–developed,
you can save even more and accrue
“sweat equity” during your remodel by
doing much of the work yourself.
7. 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.
8. 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 steadyway 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.
9. 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.
10. 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, and don’t forget,
I STILL HAVE THE KEY TO YOUR
NEWHOME! Please feel free to call me
at 404.966.6377 or, if it’s more convenient
for you, please email me at mcirciu@
.