The 3 things that scare you most about buying a home

Buying a home must be up there with public speaking and the remake of The Exorcist for frightful experiences, but many of us will buy a home, speak publicly and watch that movie again and again in our lifetimes. By giving you a few of the “behind-the-scenes” secrets, we hope to help you deal with the three things that scare you most about buying a home. The Cost The greatest fear that people have about buying a home is being able to afford it. This is what keeps us awake at night – calculating and recalculating how many lunches we have to pack instead of going out with the gang, to be able to make the mortgage payment. The biggest secret to dealing with this fear is working with a great Lender and getting pre-approved BEFORE you start looking at homes, and being realistic about what you’re willing and able to spend. If you need a referral I have some great sources that I have worked with. They are a great place to start when wanting to know what you qualify for in a home. The Lender will give you a range of loan options available and if asked, will give you a realistic projection of what you can REALLY afford, considering your budget and lifestyle. They can give you an approval but also a house price range that is within your monthly payment desire. Sometimes people make assumptions of what range of home they can buy based on what they “think” that their comfort level is for a monthly payment. Sometimes it can be way off and you can actually afford more of a home which opens you up to more choices. We all like more choices! The Commitment Women like to stereotype men as having a fear of commitment – but when it comes to buying a home, we’re all susceptible. Buying a home usually means committing money and time (at least a year – usually more like five years and in some cases even more) to being in one location. If you’re just finishing a degree or training, or you’re not sure that you’ll be in the same position for a while, you may consider waiting until your life is a little more stable. The behind-the-scenes secret to dealing with the fear of commitment is in buying a home that will resell easily – that has features that other people will want. In addition, you can get a two-step mortgage that allows you to pay a fixed rate for a certain period of time, and a flexible rate later on – so you can get out of the loan easily after the first step. The People Who can you trust in this home-buying process? This is a big investment we’re talking about. And it seems that everyone is out to make as much money as possible OFF of you! There are sellers, real estate consultants, lenders, builders, movers, and attorneys, all of whom may be strangers, and have a vested interest when you buy a home. It’s easy to be afraid they’ll take advantage of you. The behind-the-scenes secret is to check their references. Really! Many lenders and real estate consultants operate on a “By Referral Only” basis – in which they ask clients to refer them to others they know are buying a home. Those who offer “lifetime relationships” and other services (like free reports and seminars on buying or selling homes) are already striving to meet your needs. In reality, they are NOT all out to get you – because in the long run, the BEST business strategy is to make sure that you get what you need and want in a home.