Here are some helpful ways to do that:
A.) Create an intention for your new home:
The intention allows you to create a purpose for the home itself. Visualize your life in that home and all the possibilities that can open up. Envision the benefits of buying this home. Bring alive within you, the experiences that you will create from the moment you become a homeowner. Following these simple steps will allow you to see if your are on the right path.
B.) Trust yourself:
Regardless of the current economic state, the positive and negative news presented by the media, or anyone’s opinion, your clear choice is the only vote that matters. Once you understand your own financial situation, only then will you identify and know whether or not this is the best time to buy.
2 - Recognize the current opportunity. There is an unusual combination occurring in the real estate world. The prices in the United States are still relatively low and the financial entities are offering low interest rates. This is peculiar because the usual trend is that when interest rates are low, new buyers are motivated to purchase. Therefore, prices of houses rise. On the other hand, when interest rates are high, there are less buyers, therefore, this forces the sellers to lower their prices. Purchasing a home in this current situation presents itself as an unique opportunity.
3 - When buying a home remember to carefully plan and execute every move that you have to perform. Be sure to receive proper guidance from a real estate agent and legal advice from a lawyer. Consult a financial institution, which will check if you qualify for a mortgage loan, before you start shopping for your new home. It is also important that you prepare ahead of time and organize yourself to provide the bank with the following documents:
1 - Social security number for credit report
2 - Last two tax returns
3 - Last two bank statements
4 - Last two W2 or 1099 forms
5 - Last four pay stubs
Anytime of the year is a good time to buy a home. Remember to always have a clear intention, be confident of your own financial standing, and of course, make sure to receive advice from real estate experts before embarking on the adventure of owning a home.
Copyright © 2017 Live In Connection Magazine. All rights reserved.
Buying a home can be one of the biggest decisions that you will ever make in your life.
You are not only growing in terms of your living quarters, but also growing internally. The reality is that this process will put you to the test. Any new project in life that modifies your physical reality will impact you emotionally as well. Here, we provide a guide to consider, that will prepare you for the process of buying a new home.
The Emotional Aspect :
Purchasing a property is a new venture that you may not be well-versed in. It is part of almost everyone’s dream to have their own home, raise a family, or just live in the tranquility of owning their own space. However, here are some important questions you might ask yourself once you decide to become a new homeowner:
1 - Do I have enough knowledge about buying a home, choosing a home and becoming a homeowner? Choosing this path leads to acquiring some new responsibilities that go far beyond than just being a proud homeowner.*
2 - Why do I want to buy a home? It is very important to be clear about what you want. Your “why” is the drive behind this new decision. It is also important to note what feelings you experienced when you thought about your decision. Your thoughts about purchasing your new home may bring about some anxiety or fear because you are embarking on a new journey. This is completely normal. However, the feeling behind that fear is what you are really looking for. Is it peaceful, exciting or promising? This is vital because it is this clarity that provides you with the power to make choices from a place of security and assurance.
What IS Your
The Physical Aspect:
1 - Know your market. Knowing the market will help you understand that the cost of homes in any area depends on the supply and demand. For example, if there are more houses than buyers available, the price of housing tends to drop. On the other hand, if there is a high demand from the buyers, prices tend to rise. It is also important to recognize that the real estate market in the United States is handled locally and that the statistics you are reading or listening to from the media might be an estimate of the situation on a national level. Therefore, it would be wise that you take the time to study your market carefully and be sure to ask for the assistance of a real estate agent who specializes in homes in the area in which you are looking to buy.
Copyright © 2014 Live In Connection Magazine. All rights reserved.