1. Start fixing up your credit score.

First, you need a mortgage, so check out your credit. If it is below perfect, your bank could refuse you.  Be careful about who you get to help you in this area.  There are some very good credit repair companies but many that are more interested in taking your money.

2. If you like to move about, consider only renting for a while

To buy a house in Columbus, GA or Phenix City AL, you should plan on staying in it for at least five years. House prices still have not completely stabilized; therefore you risk losing money when selling early.

3. If you are unable to put 20% down payment, you may still qualify.

If you cannot get a conventional mortgage with your bank, do not worry there are a lot of programs out there still today that offer 3-5% down payment options.  Most sellers will also help with closing costs.

4. Do not aim too high.

You can typically get a mortgage for two and a half times your salary.  You can use an online mortgage calculator to make sure of what you can borrow based on YOUR budget, and do not rely on a rule of thumb approach.

5. Go through a real estate agent.

Check the internet for Columbus GA homes for sale in your area of interest, but do not rely solely on a website. Grab a local real estate professional and let them offer you a showing and free advice on the home buying process.   You will get professional advice and help to make everything run smoothly, and there is usually no cost or obligation.

6. Make sure there are good schools in the area to suit your needs

This advice not only applies to those who have children. Buying homes in one of these areas will make it much easier to sell.

7. Check with your bank to make sure you can afford to buy.

Getting pre-approved is great. If you find a house you really like and cannot afford it later, it will lessen the heartache. You get a figure that you can stick to when house hunting.

8. Should you pay extra to lower the interest rates?

Paying for additional points when going for a mortgage is a good idea to consider. Points are part of your interest cost, paid at closing, to get a lower interest rate. Staying in your home for a few years will help, because it saves money long term.  Make sure to ask your lender.

9. Get your house looked at by a home inspector.

You want to know if it is worth the asking price based on any unforeseen repairs or system defects. An inspection could detect problems that could save you a large repair bill that you may not want.  Many times you can get the seller to take care of these items prior to closing.

10. Research the prices of other houses in the area.

Check out the value of other houses in the area. Go back as far as six months. Then put in an appropriate offer for the house based on the valuations. The best guideline is around eight to ten percent lower than the asking price.

Please contact RealtyEdge Brokers at 706.320.3343 for more information and assistance.