B u y in g y o u r D re a m


I f y o u ’r e c o m m it t e d t o b u y in g a h o u s e t h is f a ll, h e r e a r e s o m e t ip s t o s t r e a m lin e t h e p r o c e s s a n d s t r e t c h y o u r d o lla r .


M a n y fir s t tim e b u y e r s


u n d e r e s tim a te th e a m o u n t th e y w ill n e e d . G e n e r a lly s p e a k in g , y o u 'll w a n t to b u d g e t b e tw e e n 3 % a n d 4 % o f th e p u r c h a s e p r ic e o f a r e s a le h o m e to c o v e r c lo s in g c o s ts . S o , o n a h o m e th a t c o s ts $ 2 0 0 ,0 0 0 , y o u r c lo s in g c o s ts c o u ld r u n a n y w h e r e fr o m $ 6 ,0 0 0 to $ 8 ,0 0 0 . O f c o u r s e , th e s e a r e


e s tim a te s — th e a c tu a l a m o u n t y o u w ill n e e d c o u ld b e h ig h e r o r lo w e r , d e p e n d in g o n fa c to r s lik e w h e r e y o u liv e , th e ty p e o f h o m e y o u ’r e b u y in g , o r if it’s a n e w c o n s tr u c tio n . S o u rc e b m o .c o m


G E T Y O U R


F IN A N C E S IN O R D E R D e te r m in in g th e a m o u n t o f a


m o n th ly p a y m e n t y o u c a n a ffo r d s h o u ld n ’t b e y o u r o n ly c o n c e r n w h e n d e v e lo p in g a b u d g e t. B u y in g a h o m e c a r r ie s m a n y fin a n c ia l r e s p o n s ib ilitie s . C lo s in g c o s ts a r e a c o m m o n


e x p e n s e th a t fa lls o n a b u y e r ’s s h o u ld e r s . I n fa c t, S o c ie ty o f H o m e I n s p e c to r s s u g g e s ts th e fe e s c a n a d d u p to b e tw e e n tw o a n d fiv e p e r c e n t o f a h o m e ’s s a le p r ic e . T h is c o v e r s s e r v ic e s


n e c e s s a r y to c o m p le te a s a le lik e a p p r a is a ls , h o m e in s p e c tio n s a n d title -tr a n s fe r fe e s . Y o u w ill a ls o b e n e fit fr o m s e e k in g p r e -a p p r o v a l fr o m a le n d e r to fin d o u t h o w m u c h


8 – F a ll 2 0 2 0 E d itio n


fin a n c in g y o u ’r e e lig ib le fo r a n d to s h o w s e lle r s y o u ’r e m o tiv a te d a n d q u a lifie d .


H IR E A N E X P E R T A G E N T O n c e y o u r fin a n c in g is s e c u r e a n d a


w is h lis t is in ta c t, y o u s h o u ld s e e k th e e x p e r tis e o f a r e a l e s ta te a g e n t. T h e y


w ill g u id e y o u th r o u g h in - p e r s o n v is its , n e g o tia tio n s a n d h e lp y o u u n d e r s ta n d w h a t p a p e r w o r k to e x p e c t. D id y o u k n o w th a t s in c e h o m e s e lle r s a r e ty p ic a lly r e s p o n s ib le fo r a R e a lto r ’s c o m m is s io n fe e s , y o u w ill g e t th e ir s e r v ic e s fo r little o r n o fin a n c ia l o b lig a tio n ?


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