Buying Your Dream Home Birmingham AL

Choosing your dream home is one of the most important decisions you'll ever make. However, you have to prepare yourself for this process well and in advance.

Local Companies

Keller Williams Realty
(205) 919-8914
3500 Grandview Parkway
Birmingham, AL
The Stagehand Home Staging and Redesign Services
1-888 784-3669
3956 Butler Springs Way
Hoover, AL
Sense Of Style Home Staging
205-229-5451
3011 Old Stone Sr
Birmingham, AL
ERA Oxford Realty
205 908 6386
5511 Hwy 280 East
Birmingham, AL
Rudulph John B Jr Rl Est
(205) 870-5006
10 Clubview Dr
Birmingham, AL
Greer Corinne D Rl Est
(205) 967-4738
3557 Victoria Rd
Birmingham, AL
Shaw Martha Jean Rl Est
(205) 325-1324
2501 20th Pl S Ste 400
Birmingham, AL
Graham Steven V MAI Rl Est
(205) 970-9030
3455 Cherokee Rd
Birmingham, AL
Faught Kenneth L Rl Est
(205) 956-9394
1340 Monticello St
Birmingham, AL
H & H Real Estate
(205) 956-9788
2834 Crestwood Blvd
Birmingham, AL

Home Buyers' Guide

The process of buying a home is not an easy one. Choosing your dream home is one of the most important decisions you'll ever make. So you have to prepare yourself for this process well and in advance. When buying a home, be sure to avoid some of the critical mistakes that could cost you thousands of dollars. As a Toronto realtor I know they are crucial.

  1. Understand the current market value of the home. Be sure not to low-ball your initial offer. Vendors tend to give less of a counter offer (closer to list price), if they feel insulted. Understand the current market value of the home, and comparable solds. Don't forget that you can find your next home on the web, so search ALL local listings, and check out the MLS (Multiple Listing Service). You have to know that it only includes resale homes, not new developments. Most homes do not give you the actual address here, but many pertinent details.
  2. Know what you are bidding on. Have your agent arrange a home inspection, as it would cost about $300.00 but this could very well be your best money spent. With detailed home inspection data, you can either adjust your offer or take a pass on a property with extensive hidden flaws. If you have the property inspected by a qualified home inspector, you will receive a full written report on the property plus estimated costs of any necessary repairs. It only takes 2-3 hours.
  3. Think of mortgages. Don't forget that when you have a down payment that is almost 25%, it is usually less expensive to arrange a first and second mortgage. Determine what you can afford -- all those extra expenses are sometimes overlooked in purchasing a property.

    To calculate how much monthly payment you can afford, you need to figure your debt-service ratio. To figure it out, you have to list all your loans: car, personal loans, monthly credit card balances, plus your rent or future mortgage payment (includes principal and interest) and the applicable property taxes.

    This total should not exceed approximately 40% of your gross monthly income. Experts say that the monthly mortgage payment and monthly house taxes should not exceed approximately 30% of your gross monthly income....

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Author: Julie Kinnear

Featured Local Company

Keller Williams Realty

2059198914
3500 Grandview Parkway
Birmingham, AL
www.stellatrottesdale.com