Home Buyers

Owning your own home is a classic American dream and part of American culture. Right now, more Americans own homes than ever before. Waiting to buy a home could cost you in the long run. Purchasing a home is a considerable financial investment, and does not guarantee that you will save money in the short or long run. The main considerations when deciding between renting or buying a home include your lifestyle, your ability to secure a mortgage and your financial situation.

Every buyer's situation is different, no two buyers are the same. Please contact us so that we can discuss your individual situation.  

The first step in the home-buying process is to contact an M.Wesley & Associates Real Estate agent you feel comfortable working with on what will likely be the largest financial decision of your life. Ask friends and family members for referrals, and interview several real estate agents. (Click Here For One of Our REALTORS)

Once you've chosen a real estate agent you trust to be your advocate, ask him or her to recommend lenders, either an organization or a person who will lend you money so you can buy your home.

A local Realtor® has experience working with mortgage brokers and title companies and can recommend lenders. Choosing someone to handle the financial part of the home-buying process can feel like a scary step, but choosing a lender that’s competitive on rates, communicative, and available is key.

Now that you have a great lender, you can ask for guidance on any credit score issues you may be facing. Whether it’s a small or large problem, the lender can provide guidance to help repair your situation and make sure you'll be approved for a loan.

A lender will help you determine exactly what you can afford and, therefore, which houses you should be considering. To arrive at a purchase price, you’ll factor in expenses like homeowners insurance, association dues, and utilities to make sure you can comfortably make your mortgage payments. The lender will then identify the total amount of money it's willing to lend you.

Once you know what your purchasing power is, talk with your real estate agent about your ideal home. Come up with a few “musts,” as well as "wants" you’d ultimately be willing to compromise on. Think bigger than just the color of the kitchen or the floor plan.

For instance, do you want to be within walking distance of restaurants? Do you want space between you and your neighbors? Or is proximity to a good school the most important factor?

Now comes the fun part: searching for homes that meet your parameters. When you begin touring homes that are on your short list, take along a notepad and jot down your thoughts as you approach each home. Can you imagine yourself living there? (Click Here To Start Your Property Search)

Your real estate agent will walk you through the steps required to make an offer on a home in your area.

Once your offer to purchase is accepted, you'll work with your lender to get final approval for your home purchase by the date specified for the closing. The lender may require you to pay property taxes or homeowners insurance for the first year at the time of closing, so make sure you know what funds will be expected.

The due diligence process usually includes getting a home inspection to make sure you haven't missed any hidden problems on your walk-throughs. If issues are found, negotiate for the current owner to fix them or take the cost of repair off the closing costs.

Once all of the above steps are completed, you’ll be on your way to the closing table. This is when the deed to the home is transferred from the seller to the buyer. Every transaction varies, but plan to sign a ton of paperwork. An attorney or settlement agent will guide you through the process. Then you’ll officially be a homeowner and receive the keys to your new home. Congrats!