Home buying season is kicking into high gear and will remain that way up to late in November when things begin to cool off. Between now then a lot of homes will be bought and sold in the Chicago area. Are you a first-time homebuyer? If so, then you might want to apply some of these proactive tips to help make the process go smoother for you.
It will be a smart move to have you financing in place before you start shopping. You don’t want to get into a situation where an offer is accepted but the seller has to wait for your financing to go through. They probably won’t wait. Part of that financing will involve a deposit and closing costs. Sometimes the closing costs can be included in the loan amount but that will just make all the numbers increase. As for the deposit, gone is the day of “no money down” loans. Today, most lenders are expecting you to put down at least 20% of the loan. They’ll also want to know you have up to three months savings in your bank account to make your mortgage payments.
Making an Offer
Online information about a particular house will provide you with compatible prices of homes in the neighborhood. It will also show you what the home sold for the last time it was on the market. All of this information is going to help you formulate an offer price. This something you should be doing in consultation with your realtor. You’ll want to focus on the fair market value of the house and not the list price. Some owners go way over the top with their valuations. They might get it but that doesn’t mean you have to pay it.
Think Outside of Your Dream Zone
Everyone has an idea of what their dream home should look like. This is the “must-have” list that you will go house hunting with. Unfortunately, the reality of the market and what you can afford often clash. This might mean thinking outside of your dream zone. Could you live somewhere with a longer commute to work? Could you move into a place that needed fixing up? Would you consider a foreclosed property? In other words, when it come to shopping for a home, everything should be on the table for consideration.
After finding that home, you could be packing up the moment the deal closes. The smart move here is to bring in Junk King Chicago. One session with these junk removal experts and you’ll be moving with a much lighter load. There is no reason to bring all the things you have been wanting to get rid of. Before you move into your new home, let Junk King Chicago move out all the rubbish and clutter. Start junk free!