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Posted by Alferes Realty, Inc on 12/17/2019

Your credit score can play a major role in your ability to get the financing that you need to buy a house. As such, you'll want to do everything possible to improve your credit score before you enter the real estate market.

Now, let's take a look at three quick, easy ways to boost your credit score.

1. Pay Off Debt As Quickly As Possible

Get a copy of your credit report from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). You are entitled to one free copy of your credit report annually from each credit reporting bureau, and you should take advantage of this perk so that you can learn about your outstanding debt.

If you have lots of outstanding debt, you'll want to start paying this off as quickly as possible. Because the less debt that you have, the more likely it becomes that you can get a favorable mortgage from a credit union or bank.

Don't wait to begin paying off outstanding debt. If you pay off even a small portion of your outstanding debt regularly, you can move closer to getting the financing that you need to acquire a terrific house.

2. Avoid New Credit Cards

A low credit score can be worrisome, and it may cause you to consider a variety of options to manage outstanding debt. However, if your credit score is low, there is no need to take out additional credit cards.

New credit cards may seem like viable short-term options to help you cover various expenses while you pay off assorted outstanding debt. But these cards are unlikely to help you resolve the biggest problem Ė paying off your outstanding debt to bolster your credit score.

Instead of signing up for new credit cards, it often helps to cut back on non-essential bills. For instance, if you don't need cable, you may be able to eliminate this expense and use the money that you save to pay off outstanding debt. Or, if you have first-rate items that you don't need, you may want to sell these items and use the profits to pay off myriad bills.

3. Keep Your Credit Card Balances Low

Once you have paid off your outstanding debt, you'll want to keep your credit card balances low.

It often helps to have one credit card that you can use in emergencies. If you keep one credit card and get rid of any others, you may be better equipped than ever before to maintain a high credit score.

Lastly, if you require additional assistance as you prepare to kick off a home search, you may want to work with a real estate agent. This housing market professional can help you narrow your home search to residences that fall within a specific price range. That way, you can avoid the risk of spending too much to acquire a house.

Increase your credit score Ė use the aforementioned tips, and you can raise your credit score before you launch a home search.





Posted by Alferes Realty, Inc on 12/10/2019

Getting ready to buy a home is one of the most exciting times in life. The purchase of a home is one of the biggest financial decisions that you will ever make in your lifetime. When you make the decision to buy a home. There are a few key things that you need to do to be prepared for the process of a property purchase. It can be simple if you have the right preparation and knowledge.


Find The Right Realtor


A good realtor will steer you in the right direction when it comes to finding the home of your dreams. Your real estate agent also will help you each step of the way on the road to buying that home. Thereís a lot of paperwork that must be done in a timely manner throughout the buying process. The right realtor can even help you to get the offer in for the right home in on time. In a competitive market, having a realtor who is on top of things can mean the difference between purchasing the home you want and letting it fall through the cracks.


Know That Youíre Signing A Lot Of Legal Paperwork


The purchase of a home does involve a contract. If you need more time for anything such as reviewing your home inspection or waving certain contingencies, youíll need to state that. Every piece of the transaction is important and needs to be formally processed when it comes to purchasing a home. Your realtor will be there to help you through all of these complicated processes. 


Think Of The Future


When youíre choosing a home, youíre not just buying for your life as it stands right now. Are you hoping to have a big family? Do you need a home office? How much entertaining are you planning on doing? All of these things are important when it comes to the type of home that youíll buy. If you donít plan for the future, youíll outgrow the home that youíre in quite quickly. 


Look For Potential


See what potential the homes that youíre looking at have for you. Some homes may have major cosmetic issues that can easily be fixed. Perhaps The walls just need some fresh coast of paint. Maybe the deck needs to be stained. If you go into the house search with an open mind, it will be a lot easier for you to find the right home. You donít need a home that is absolutely move-in-ready unless of course, youíre building a brand new home from scratch.


Know Your Finances


One of the most important things about buying a home is knowing your finances. Donít buy a home that you canĎt afford. From looking at your own budget to getting pre-approved, youíll be able to have a better understanding of your own financial situation and how much house you can afford.




Categories: Uncategorized  


Posted by Alferes Realty, Inc on 11/26/2019

When your family is searching for a home, itís an exciting time for the adults, but if there are children involved, it can be a difficult task. Children donít have to be left in the dark during a home search. Children of all ages can be involved in the process of finding a home. Read on for tips on how to make your kids feel a part of the home search process. 


Young Children


Preschool-aged children might seem not to be aware of the fact that your family is searching for a home, but they can still very much be a part of the process. One thing to remember about young children is that you shouldnít give them too many options. Once you have narrowed down the homes to a few and the time to buy a home is close, itís a good time to tell your toddler about the fact that youíre moving. While you probably donít want to take your kids along with you on all of your home viewings, you can bring the children with you. Even the opinions of the tiniest among us can help contribute to a final decision. 


School-Aged Children


Older children may be more challenging to deal with during a move. These kids are more aware of the changes to come and maybe more reluctant of the entire process. Itís best to include children this age (around 6-9 years old) in conversions about your plans. Where do you hope to move? What neighborhood will the home be? Show them pictures of potential new homes. Allowing kids this age to share their thoughts on location and the types of houses youíre looking at can help to ease fears and anxieties. Remind your kids that the final choice is up to the adults but that you appreciate and welcome their input. 


Older Children And Teenagers 


Pre-teens and teenagers can play a part in the house search. Make sure that they understand that thereís no pressure on them to pick a house but their input is essential to you. Teens are tweens should be encouraged to come along on house tours to help give an opinion on the properties in person. 


The older the kids that are involved, the more you should value and welcome your input.  Make sure that you reassure your teens, letting them know that they can continue their favorite activities. Do a little research on the new community first, or allow your kids to do a bit of research themselves.                     





Tags: Buying a home   children  
Categories: Uncategorized  


Posted by Alferes Realty, Inc on 11/5/2019

When you think of your real estate budget, you should know that the more you spend on a home, the more overhead costs youíll face. Youíll need to pay for things like real estate agent fees, attorneys fees, and other closing costs. The more you pay for a house, the higher all of these fees will be since they are usually percentage based. So, the overarching question is how do you budget and find a reasonable amount of money to spend on a home? 


Prioritize


Your real estate agent may show you a myriad of homes across many different price ranges. Each property will have pros and cons. You can look at seeing these homes as an educational experience. Viewing properties could even help you hone in on what you want in a home. There are a few good reasons to look at homes above your budget range. 


Housing Prices Could Rise Or Drop


When housing prices begin to rise, people tend to believe that theyíll keep climbing. The panic couldnít be further from the truth. Eventually, the prices need to drop. The idea of buying a property and adding value is to make a bit of a profit back when you go to sell. You need to be prepared for anything when you head out to buy a home. Price changes will apply to you if you plan on living in your new home only for a specified period. If you donít have plans in your future to move, you may not worry about home value changes quite as much when shopping for a property. 


Mortgages End Eventually


If you plan ahead, you donít have to pay mortgages for the rest of your life. If you keep moving and taking out 30-year mortgages, you could be making mortgage payments forever. If the average family stays in their home for around a decade, that's not a significant amount of time. Here, youíll find a great reason not to max out your budget on a home. If you buy a less expensive house, you can get the mortgage paid off faster. You may even be able to take the mortgage out for a shorter term. Paying your home off more quickly allows your financial freedom. Itís simple, yet many people opt for a bigger house that they arenít planning on staying in, causing a bit of a financial headache.


You Need A Rainy Day Fund


If you avoid maxing out your budget to buy a home, youíll be able to save a bit for any emergencies that come up. You will be under less stress knowing that you have a little bit of money set aside in case your home needs major repairs, or you face a job loss or illness. In conclusion, itís never a good idea to max out your budget on a home purchase.                    





Tags: Buying a home  
Categories: Uncategorized  


Posted by Alferes Realty, Inc on 10/15/2019

The homebuying journey may prove to be difficult, and assorted challenges may arise that make it tough to quickly find and buy your dream house. Whether it's encountering problems during a home inspection or negotiating a house price with a property seller, there is no telling what may happen during your pursuit of your dream home. However, if you know how to handle homebuying challenges that come your way, you'll be better equipped than ever before to enjoy a seamless homebuying experience.

Now, let's take a look at three tips to help you tackle various homebuying challenges.

1. Stay Patient

When you are faced with a homebuying hurdle, it is important to remember that every problem has a solution. Thus, if you take a calm, cool and collected approach to a homebuying issue, you can find the best way to alleviate this problem.

A patient homebuyer usually is a successful homebuyer, and for good reason. If you maintain patience as you navigate the homebuying journey, you can analyze problems that come your way and allocate the necessary time and resources to solve them. And as a result, you may be able to speed up the homebuying journey and acquire your dream residence in no time at all.

2. Consider Your Options Closely

As you encounter homebuying hurdles, you should consider your options closely. That way, you can weigh the pros and cons of potential homebuying decisions and make informed choices as you try to buy your ideal residence.

Sometimes, it may be beneficial to consult with family members and friends too. If you reach out to loved ones for support, they may be able to help you make the best-possible decisions throughout the homebuying journey.

3. Collaborate with a Real Estate Agent

When it comes to purchasing a home, you may require expert assistance. Lucky for you, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you overcome property buying issues.

A real estate agent is committed to your homebuying success, and as such, will work with you to make your homeownership dream come true. Therefore, if you want to acquire a city residence as quickly as possible, a real estate agent can help you do just that. On the other hand, if you want to purchase a small town home at an affordable price, a real estate agent will help you accomplish your desired result.

Let's not forget about the comprehensive guidance a real estate agent can provide as you search for your dream residence, either. A real estate agent can teach you everything you need to know about the housing market. By doing so, he or she can help you identify and resolve homebuying problems before they escalate.

For those who want to streamline the homebuying journey, it helps to prepare. Thanks to the aforementioned tips, you can reduce or eliminate homebuying hurdles and purchase your dream house without delay.




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