Home Buying Pointers before Approaching Lenders like Vahe Hayrapetian

Whether you’re looking for a place to move into from your parent’s basement, or if you want an upgrade to your current living quarters, purchasing a home is never an easy task. Unless you have millions of dollars stored in your bank account, financing a new home and looking for the perfect fit is not as easy as picking clothes in a mall. As a home-buyer you need to carefully assess the house, to make sure that every penny is spent properly, especially if your budget is predominantly loaned only from trusted mortgage lenders, like Vahe Hayrapetian. Here are a few tips to consider when purchasing a home:

Be Practical

Your dream home may not be the most practical for you at the moment. If you’re moving from your parents’ house, a small starter home is actually a pretty good choice. It may not be the most convenient or the most aesthetically appealing, but it does keep you covered until you have enough money to move to a better home. If you’re single at the moment, and does not plan on getting married within the next few years, then a condominium might be more practical. You can always get your dream home later once your job is more stable and you have a better credit score. In this way, loan officers like Vahe Hayrapetian will be more confident to approve a bigger loan for you.

Location

Your home location is just as important as the home itself. Ideally, it should be near your work area, is accessible through a major highway, is easily reached by the police or fire station, and is near recreational establishments, like a mall, to give you the chance to relax and enjoy once in a while.

Needs over Wants

It is common for homebuyers to desire a wide spacious kitchen or a lovely backyard; however, this is not always a viable option. Clear necessities first, like the home location or the number of bedrooms and bathrooms before you proceed with kitchen size. There are simply times when you have to make a compromise between the necessary amenities and the ones you prefer.

Be Open to Ideas

There are times when you end up with something that is far from your original plan but you love it anyway. Your agent may have some great ideas; be open to them and, at least, consider them.

Once you’ve chosen the right home for you, start the bidding and negotiation process. Visit www.investopedia.com/articles/mortgages-real-estate/08/fair-price-on-home.asp for some tips on how to get the best price for your chosen home, and staying within budget.

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