Buying a HomeBuying a home in Fishers or the surrounding area with the interest rates low, inventory high and a stimulus package in the ofting is a smart thing to do.  Here are five things you should consider before you make the purchase.

  1. Talk to a lender.  It is so important to understand how much you can afford and what you will be approved for first.  It is difficult to fall in love with a house you can’t buy.  You also will want to know how much you will need in closing costs to buy your home.  There are things like survey’s, appraisals, underwriting fees, etc that are included in closings costs and sometimes you can have the seller pay these for you.  A good faith estimate will detail these costs for you. But, there are other costs like earnest money, inspection, etc that the buyer will need to have cash on hand to pay.
  2. Save for the purchase.  There are very few programs available to purchase 100%.  Typically, you will need 3.5% of the purchase price in cash to put down.
  3. Create a list of things you must have in your new home and things you want in your new home.  Be willing to compromise on the wants if the home has all that you need.
  4. Hire a realtor.  Realtors can help you choose the right house for you, based on the list you created in #3.  Realtors can discern resale values, appropriate and fair pricing, negotiate th transaction.  This Fishers Realtor can do so much for you; explaining the entire home buying process for starters.
  5. Be sure to use a qualified professional inspector to inspect your home.  Having someone you can trust and is experienced could save you thousands in hidden defects that are not found before you are the owner of the home.

Finally, if you are a first time home buyer, congratulations!  This is the year for you with the economic stimulus package!  To learn more about the benefits, join us for a 1st Time Home Buyers Class held on the last Saturday of each month. Register at our Fishers Real Estate website.   

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 Cindy “in Indy” Marchant - Fishers Real Estate Agent
Keller Williams Realty Indy Metro NE
Fishers IN Real Estate Website
317-290-7775