Guide to Buying

Together, we will find your perfect home and I will guide you through the process.

Things You Need To Do Before Buying A House

1) Locate an experienced Realtor®. Since you have this information in hand, I will be happy to help you. Even if you find a house on your own, use a Realtor® to represent you. Since the seller pays all commissions, there is no cost to you as a buyer. Your Realtor® has all of the tools, forms, disclosures, and expertise you will need. He or she will manage all areas of the purchase, relieving you of time and stress. I recommend you find an agent other than the one listing the home for sale. It is best if both buyer and seller have different agents.

2) Know what your credit score is BEFORE you look for homes. If you know that your credit is very good to excellent, then there is no need to worry. If you don’t know what your credit score is, find out immediately. Take care of blemishes or problems immediately so that your score will be as high as possible when you apply for a loan. Since this can take time, start on it as soon as possible. It can make a difference between a low interest rate and a very high one. You can find out your credit score in minutes at one of the free credit score sites such as www.CreditKarma.com

3) Contact a loan consultant BEFORE you look for homes. It is important to know what you qualify for and how much it will cost you before you start.

4) Think about how much home you need for the next 5 to 7 years, not just now. Get enough house, but not too much. You may qualify for a nicer home, but it ultimately may be a burden. You don’t want to become “house broke,” meaning you can make the payments on your home, but can’t afford the things that you need or want. Sure, a big beautiful home in a prestigious area may fit the “American Dream” ideal. Many people, however, like to have cell phones, high speed internet, nice clothes, eat out once or more per week, or take off on short or long vacations. If your mortgage eats up too much of your income, you may not have enough left over for the other things. If your credit is good, lenders may finance more home than you may think. They also may finance more house than you want or need. Consider your income and lifestyle carefully. Do the math and analyze your finances. Don’t rush into anything. Take your time.

5) Get an idea about how much your house is going to cost you and how you are going to pay for it. There are many ways to finance a house. Find a good lender to help you. I have many sources that I can recommend for you.

6) Consider all aspects of a house and the cost to maintain it. If your home is not energy efficient, for example, it can cost you hundreds of dollars more per year to enjoy it.

Dale Edward Smith, Owner / Broker

Yosemite Gateway Realty

California Department of Real Estate Broker I.D. # 01428832

Visit www.dre.ca.gov for my license information.