Buying a home is most likely the biggest financial decision most people will make during their lifetime. That’s the reason why more than 90% of persons involved in making a real estate transaction choose the services of a qualified real estate company. After all, if you were making any other investment decision, which involved a large sum of money, you would seek the help of a qualified professional advisor or consultant.
Whatever your reason for buying, know that finding the right home, in the perfect neighborhood and at a cost that is within your budget is no small task.
Whether you have spent years saving and preparing to buy a home, or you still aren’t sure if it is something you can afford, the question surrounding a first-time home purchase can feel endless. You can find the answers-peace of mind-by working with a Associated Realtors agent. Here are some tips to help you with the process of owning your home.
Pre-qualify for a loan.
Being pre-qualified for a loan determines how much of a house you can afford to purchase. It also allows you to move more swiftly when the right house comes along, especially when you are not the only buyer interested in the property. Most banks will pre-quallify you for a loan. You can call them up and get their requirements so that you will be completely prepared when you meet with them.
Shop for mortgage rates and terms.
All local banks offer mortgages to prospective homebuyers. However it is important to shop for the best interest rate on your mortgage. A difference of one percent in your interest rate can make a huge difference in how much you pay over the life of a loan. As an example the difference between a 9 percent interest and 10 percent loan of Awg 200.000 over a period of 15 years is about Awg 120.68 monthly. Over the period of the loan this is a whopping Awg 21,722.40 The best place to start shopping for your mortgage would be the bank that you presently do business with. Since the already have an existing relationship with you, they would be most likely qualify you faster for a mortgage.
Use a buyer agent.
A buyer agent is something new for Aruba, however it is well known in most countries around the world. A buyer agent represents the buyer’s interests in a real estate transaction. By representing the buyer, the buyer delegate’s the hassle of spending many hours to try to locate the perfect real estate to purchase. When your buyer agent calls you to tour homes you can be sure that all these homes have been pre-screened to meet all your demands. This helps the buyer save a lot of time. It also frees the buyer from having to negotiate directly with a seller once a home is located, because all offers are presented to the seller or the seller’s agent by the buyer agent. Generally the buyer pays the buyer agent, this causes the agent to negotiate more aggressively to meet the buyers demand. Here at Associated Realtors we are more than happy to represent you in purchasing your home.
Keep a score card on the houses you tour.
After touring each home, write down what you liked and what you didn’t like. Develop a rating system, which will help you narrow down the houses that’s best for you. Your real estate agent if well trained will be able to assist you make a final decision on the home that most fit your requirements and taste. After this it is time to make an offer to the seller. At Associated Realtors we will help you prepare your offer and present this offer on your behalf to the seller or the selling agent. Usually there is some negotiation back and forth and ultimately a deal will be reached where everyone will be satisfied. Vua La! You have purchased your Home.