Tag: Secure a mortgage

Are you a first time home buyer in Hawaii? The road to home ownership could feel rough, and very long. This is because there are several processes you have to complete, and you have to get each one of them right. In this post, we share six important tips for first time home buyers in Hawaii. Therefore, if you feel lost or are stuck and do not know what to do, here is a first time home buyer guide for you! 1. Work With a Real Estate Agent Whether you are a first time home buyer or buying your fifth property, working with a real estate agent is the best advice I have for you. Unfortunately, some first time home buyers feel that a real estate agent will increase the price of your property. What such first time or repeat home buyers fail to factor is that a local real estate agent understands the market, and can help them save a significant amount of money. To put this into perspective, here is a preview of top reasons to hire a local buyer’s agent: Its free to hire a buyer’s agentBuyer’s agents understand the market better than you doReal estate agents have superior negotiating skillsAn agent knows what to look for when viewing houses for sale in HawaiiAn agent can assist in the process of evaluating and securing financing Therefore, hiring a home buyer’s real estate agent from the start saves your time and money. In that regard, it is time you search for a reliable and trusted local agent to help you through the home buying process. 2. Define What You Want Hawaii real estate market offers tons of options to suit every homebuyer. To ease the experience of searching homes for sale Hawaii, list your requirements. Once you have a list of features to look for when searching for the property, send it to your real estate agent. Examples of the features to look for when searching properties for sale Hawaii include: The locationSite of the homeThe neighborhoodProperty’s curb appealProperty size and the floor planNumber of bathrooms and bedroomsKitchen layoutWindows and lightingInterior and exterior finishing touches Once you have that list, it is easier for you to search different properties, and settle on the most convenient. You may get multiple copies of the list, so you use one for every property you are viewing. 3. Define A working Budget Now that you have a reliable real estate agent and a definition of the type of property you have, the next thing is the budget. Hawaii offers multiple options in terms of affordability. Before you begin searching the property, it is important you define the budget range. Remember that the price depends on the features you need. For instance, a property located 2 miles away from the city centre, might be expensive compared to a similar property 20 miles away from the town centre. Likewise, a five bedroom property is expensive than a two bedroom property. Apart from the features, demand and supply will affect the price of properties in any area. Therefore, you have to adjust your requirements accordingly, to suit your budget. Budgeting before you begin the process of searching for a property will save your time and money. Besides, you will save yourself from the heartbreak that comes when you fall in love with a property, only to realize you cannot afford it. To save yourself from such trouble, take time reviewing your financial position, to define how much you can afford to pay for a property. 4. Secure the Financing Once you have determined a working budget, the next thing is to secure the financing. You do not want to go searching for the property, before you can ascertain you will be able to finance it. Therefore, I recommend that you talk to your mortgage company about financing your dream home. As a first time homebuyers, you need to explore the different options in terms of type of mortgage and the different mortgage lenders. Find out which mortgage options are available to you, and research the mortgage lenders providing those options. Do not rush the process of applying for a mortgage without a proper research of the options available to you. Here are important tips to help you secure a mortgage from the best lenders: Strengthen your creditKnow the mortgage options you qualify forCompare rates and terms from multiple mortgage lendersSecure mortgage pre-approvalRead the fine print before applying for the mortgage Following such tips will help you to secure the best mortgage and at the best rates/terms. 5. Start Home Searching The process of searching for a home gets easier when you are working with a reliable real estate agent, you know what you want, have a budget, and you are mortgage pre-approved. Look at multiple options Hawaii has to offer, based on the list of requirements, and within the budget. Avoid the temptation of pursuing a property that you cannot afford to pay for comfortably. In that regard, it helps if you stay within the budget. Otherwise, you may have a hard time repaying the mortgage. Here are important home hunting tips for first time home buyers. Stick to what you can affordCarry your list of requirements and mortgage pre-approval letterView multiple properties that fall within your expectationsHave a timelineDo not rush to put in an offerBe realisticDon’t wait for the “perfect” home When searching for a property, do not feel rushed. Setting a timeline and being committed to the process will lead to the best results. 6. Engage Experts Apart from the real estate agent, you need a professional valuer, and a home inspector. A valuer helps you to establish the best price for the property you are about to negotiate. On the other hand, property inspector will tell you whether the property meets all requirements set by the local authorities, as well as structural and architectural standards. Therefore, it is advisable that you engage the qualified professionals. Your real estate agent can help you with hiring the property inspector and the property valuer. However, do not place an offer without knowing what the face value is, and ascertaining that the property is structure and the architectural plans are compliant. Conclusion We have looked at the top six tips to consider when buying a property in Hawaii. Being a first time home buyer is not an easy task. However, knowing what to do and what to avoid comes in handy. Remember to engage an experienced and reliable real estate agent in whatever you do when buying a house. More important, always stay involved throughout the home buying process.

Tag: Secure a mortgage

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Tag: Secure a mortgage

Top 6 Tips for a First-Time Home Buyer in Hawaii by top ranked real-estate agent Martin Zialcita.

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