Posts with tag 'Home-buying tips'

It's a competitive real estate market. For first-time homebuyers, the goal of homeownership can appear difficult to achieve. While it's true that there are obstacles in the path, it's not impossible to overcome them and beat the odds. Our REALTORS® know how to help first-time homebuyers position themselves in the market to purchase the home they desire. 

Overcoming the Obstacles to Homeownership

• Strict Lending Requirements
  This is often the most daunting obstacle first-time homebuyers need to tackle. Overcoming it requires a multi-prong approach that starts with trimming the budget. Eliminating unnecessary spending, paying off credit card debt, and consolidating existing loan obligations at a lower interest rate are essential steps. It pays big dividends. It will help first-time homebuyers save money for the down payment, and it reduces the debt-to-income ratio. It also helps boost the credit score a few points, which allows buyers to qualify for a lower interest rate.

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Real estate agents have experience and knowledge that can make buying a home easier and help you avoid costly mistakes. They can help you with many aspects of the home buying process, including several you may not have thought of.

The following are just a few of the things our REALTORS® can help you with when you're looking at Mansfield homes for sale:

• Spotting problems you may not notice
  Real estate agents have looked at enough homes to be able to spot problems that you may not notice. For example, he or she may be able to see signs of insect issues, problems with the roof, or leaks in the home. These may be expensive problems to fix, and if your real estate agent notices them, you may end up saving a lot of money or avoiding a headache.

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When it comes to applying for a mortgage, getting pre-approved for financing and starting the credit application process should begin as early as possible. The sooner you get a jump on the process, the fewer problems you'll have when it's time to close and sign on the dotted line.  

But is it possible to apply too early? Our REALTORS® know the answers, and we've put together some of our expertise to help you apply for your mortgage financing at an optimal time for your home purchase.  

How Long Does Pre-Approval Take?

Before you decide how early to apply for a mortgage, we should help you understand how long the pre-approval process takes. 

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It's true that location matters when it comes to buying a home. A top location can offer a great school district, great amenities, convenient access to shopping, and a low crime rate. However, your commute time to work is another important factor to consider when looking for Mansfield homes for sale. It can be tempting to ignore a long commute if it would mean foregoing what is an otherwise perfect home. But will the time and cost of a long commute be worth it?

The Costs of a Long Commute

The average American commutes for approximately 25.4 minutes each way. But those in larger metropolitan areas are subject to an extremely long commute of up to 1.5 hours each way. Extreme commuters spend at least 15 hours a week on the road without getting paid for it. As the time adds up, so do your travel expenses, especially gas and car maintenance. In most cases, the savings realized by purchasing a home in a suburban area result in a higher cost overall. Adding a distant commute to your housing expenses can exceed 30% of your gross monthly income.

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Old homes are filled with charming details and touches that give them a fascinating appeal. Older Mansfield homes for sale conjure images of strong communities and simpler times. Each home is a reflection of the builder's interests and the style of the era. While purchasing an older home can give you a truly distinctive property, it can also come with unique challenges that you can't ignore.    

Historic Charm in Every Room

From the intricacies of the crown molding above an ornate fireplace to the antique door handles and solid oak floors, older homes are filled with fine details that will win your heart over. These finishing touches reflect the trends of the time the house was built and may also include trends from periods when the home underwent renovation or the addition of new rooms. In Ohio, it is not uncommon to find a Victorian-era home with Georgian, Spanish, or Mid-Century Modern accents sprinkled in over the years.

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