These Are the First Steps to Take Towards Buying Your First Home

If you’ve never purchased a home before, the process can seem overwhelming. What, exactly, do you need to do before you buy a home? What steps do you need to take? And where do you start?

recent article from realtor.com outlined some of the most important initial steps first-time homeowners need to take as they navigate the home buying process, including:

  • Saving for a down payment. Most lenders require you to cover a percentage of the home’s cost in cash—known as a down payment. While a 20 percent down payment can be beneficial, it’s not typically necessary. Many lenders are willing to work with buyers with a lower down payment—so just save up as much as you can prior to starting your home search.
  • Getting pre-approved for a mortgage. Before you start looking for a home, you need to know how much home you can afford—and that means getting pre-approved for your mortgage. Once you’re pre-approved, you know exactly how much you have to spend—which will save you time, energy, and frustration during your home search. (No one wants to fall in love with a home, only to find out they aren’t approved for a large enough mortgage to purchase it.)
  • Finding the right real estate agent. A great real estate agent will walk you through the entire home buying process, whether that’s finding you the right home, negotiating a great deal, or answering questions along the way. So, before you get too far into your home search, make sure to find a trusted, reputable agent to partner with.

The Takeaway:

Bottom line? If you’ve never purchased a home before, it can be hard to know where to begin—but these steps are a great place to start!

**Ryan Wheeler is an expert real estate agent and military veteran serving buyers and sellers of homes in the Shreveport-Bossier City area.  Connect With Me Here

Barksdale AFB Spouses Movers Group | Facebook

Hiring Movers? Make Sure to Ask These Questions

If you recently purchased a home, the thought of moving all your belongings from your current home to your new home can feel overwhelming—but that’s where movers come in.

Movers can make the process of getting your things from point A to point B significantly easier and less stressful—but only if you hire the right moving company. And the way to ensure you hire the right moving company? Ask the right questions.

An article from realtor.com outlined the crucial questions you should ask before hiring movers to manage your next move, including:

  • Is there anything you won’t move? Some moving companies have policies around items they won’t move (for example, plants or high-ticket items that would cost too much to replace if damaged). Before you hire movers, it’s important to get clear on those policies—and make sure that they’re willing and able to move all of your belongings.
  • Do you disassemble and reassemble furniture? Some movers include furniture disassembly and reassembly in their service offerings, while others don’t—so, if you have furniture you want disassembled and/or reassembled, it’s important to ask whether that’s a service the moving company offers.
  • How much will it cost—and are there any extra fees I need to know about? You want to have a clear idea of the total cost of the move before you hire the movers—so make sure to not only get an estimate, but to also ask about any extra or hidden fees before making a decision and hiring movers.

**Ryan Wheeler is an expert real estate agent and military veteran serving buyers and sellers of homes in the Shreveport-Bossier City area.  Connect With Me Here

Barksdale AFB Spouses Movers Group | Facebook

Putting in an Offer on a Home? Make Sure to Do These Things First

After weeks (or months!) of searching, you finally found a home that feels like the right fit—and you’re ready to make an offer.

But not so fast! Before you officially make an offer, there are a few steps you’ll want to take to ensure that making an offer is, in fact, the right move—and if it is, that your offer is competitive and has a high likelihood of getting accepted (and getting you into your dream home).

So what, exactly, are those steps? A recent article from realtor.com outlined the key things buyers need to do before submitting an offer on a home, including:

  • Look into the home’s history. The more you know about the home and its history, the better and more competitive you can make your offer—and the more likely it is that the offer will be accepted. So, before you make an offer, ask your real estate agent for information on the listing (for example, how long it’s been on the market and if there have ever been any reductions in price)—and ask them to call the listing agent for additional details about the property (for example, why the homeowners are selling).

  • Research property taxes. The cost of owning a home is more than your mortgage payment. Before you can determine whether you can afford a home, you need to know how much you’ll be paying in property taxes—so make sure you get the information before you make an offer.

  • Take a deeper look at the market. You can’t make a solid offer on a home if you don’t understand what’s going on in the area’s real estate market. Before you make your offer, do some research into the local market to find out what nearby homes are currently being listed at and what they’ve sold for in the past year or so; that way, you can compare prices—and make sure that the home that you’re making an offer on is priced accurately, and your offer is in line with the current state of the market.

**Ryan Wheeler is an expert real estate agent and military veteran serving buyers and sellers of homes in the Shreveport-Bossier City area.  Connect With Me Here

Barksdale AFB Spouses Movers Group | Facebook

With Rents Rising, Does It Make More Sense for You to Buy?

Renting a home has long been viewed as a more affordable alternative to buying property.

But with rent prices rising—and rising fast—that may no longer be the case.

According to the most recent rental data from realtor.com, in September 2021, the median rent in the US was up 13.6 percent year-over-year—the second month in a row with double-digit increases. This rapid increase in rental prices is more than four times the 3.2 percent rental price growth rate in March 2020—just before the COVID-19 pandemic hit the US.

The Takeaway:

So, what does this mean for you? As rents continue to increase—and rental properties become less affordable—buying a home may not only be a better long-term investment, but in some cases, a less expensive alternative. So if you’ve been thinking about making the transition from renter to homeowner? Now could be a great time to make a move.

**Ryan Wheeler is an expert real estate agent and military veteran serving buyers and sellers of homes in the Shreveport-Bossier City area.  Connect With Me Here

Barksdale AFB Spouses Movers Group | Facebook

Tips to Help You Be a Better (More Successful) First-Time Buyer in This Market

If you’ve never purchased a home before, it can be hard to know what the process will be like. But chances are, you have some ideas about what to expect—but in this real estate market, you may need to reevaluate some of those expectations.

recent article from realtor.com outlined common ideas first-time buyers have about the homebuying process that, in this market, are unrealistic at best (and delusional at worst), including:

  • You can find a mortgage after you find your house. Homes are selling quickly—and if you don’t have your mortgage pre-approved before you start looking at homes, chances are, the home you want will be sold by the time you get your mortgage paperwork in order.
  • If there are issues with the home inspection, the seller will take care of them. It’s a seller’s market. And with so much competition for homes, many buyers are agreeing to tackle any repairs or issues that come up during the home inspection on their own—and others are waiving the inspection altogether. Does that mean that sellers will refuse to make any repairs or improvements after the inspection? No. But be prepared for the seller to only agree to repair major issues.
  • The asking price of a home is about what you can expect to pay for it. Just because a home is listed at a certain price doesn’t mean that’s what you’ll ultimately pay for the home. Bidding wars are commonplace in today’s market—and many homes are selling for well above asking price.

The Takeaway:

So, what does this mean for you? If you’re thinking about buying your first home, it’s important to take a realistic approach to your home search. That way, you know what to expect—and can put yourself in the best possible position to successfully buy a home in this market.

**Ryan Wheeler is an expert real estate agent and military veteran serving buyers and sellers of homes in the Shreveport-Bossier City area.  Connect With Me Here

Barksdale AFB Spouses Movers Group | Facebook