Consider Your Budget
After you’ve settled in with your decision to buy a house, you’ll need to first determine how much you will be able to spend and what type of credit will be extended to you. Here are a few crucial first financial steps to take in understanding your fiscal capability:
Consider the down payment. Generally, 20% of the price of the house is recommended. If this is too much, know that you will most likely have to pay for private mortgage insurance. This protects the bank from missed payments. There’s also closing costs to consider as well. They can run about 5% of the mortgage.
Get A Realtor
It is highly recommended that you use a buyers agent when seeking a home. They will most often split the commission on the house with the seller’s real estate agent. As a Darien IL real estate agent that has worked with many buyers over the years, I can tell you that the benefits are many. With knowledge and expertise, the buying agent will work for your interests and help you avoid unnecessary pitfalls that can come with working with the seller’s agent. If you live in or near Darien IL, please contact Beata Kolpek for the professional real estate agent needs you’ll undoubtedly have.
Once you’ve found your real estate agent, start looking in the areas that you would really love to live. Consider neighborhoods that have an economic livelihood, with low unemployment and solid levels of income. Consider who lives there. Are there young families? Elderly couples? Consider the schools, and whether or not homes are selling in the area. Also, if you can look during the off season you may get a lower price and less competition. Work together with your real estate agent to find the right fit.
For more information about finding the right house for you, contact Darien Illinois real estate agent Beata Kolpek. Finding your dream house is her passion.
Beata would love to hear from you. Please contact her at: