Preparing to Buy a Home

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There are usually at least several months between the decision to buy a house and the actual closing. If you have decided to purchase a home here in the Barrington area, you should be aware that there are some ways to ensure a smooth process.

First of all, check your financial situation. Things should be relatively stable. Now is not the time to move your money around, or to buy high ticket items. You want lenders to see a calm sea when they check your financial records. This will help you get your loan with the best possible terms.

Before you begin shopping for a specific house, you should take a look at the market, particularly in the area that interests you. See what prices are being paid for the kind of property you are seeking. This will help you decide if your hopes are realistic, that is, if you can afford the kind of house you want.

 When you budget for the purchase of a home, check for all the hidden costs that may accrue. If you have been a renter up to now, you only paid your rent. Buying a home requires that you also pay insurance, property taxes, and sometimes Homeowners Association fees. Don’t let these sneak up on you. Include them in the budget from the beginning. You should also have a reserve for any maintenance and repairs that will crop up.

Choosing a neighborhood might be almost as important as choosing the actual home you buy. Visit your potential neighborhood at different times, both day and night. Observe the activity and interaction of your potential neighbors. Do they seem amicable? Are the children in the area engaged in wholesome activities?

 The quality of the schools in an area can have an effect on property values. Even if you don’t have school-age children, you may want to look into the local schools and how they rate. If you do have school kids, you’ll want to check the transportation situation, if the school isn’t within walking distance.

 Take into consideration your employment requirements. Try making the commute you would have if you lived in a certain area. Imagine making the same commute on a daily basis before making a decision. Take into account the time, and the toll in fuel and wear on your auto. If public transportation is your mode, see if the times of transport are compatible with your schedule.

 These are just a few things to check while you are preparing to buy a home. If you want to purchase a home, or if you would like to list a property for sale in the Barrington area, please call me, Dean Tubekis, at (874) 809-8070. Stop by our office at 503 South Hough St., Barrington, IL 60010, or browse through my website. Feel free to follow me on Facebook, Twitter, or Pinterest. I can help you with all of your real estate needs!


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