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Information for Home Buyers

Home Buyers Advice

Purchasing a home can be one of the most important decisions you make. That is why it is equally important to empower yourself with the right information. We have assembled a best-of-the-best in tips, tools and guides for the Home Buyer on the following pages. Take a look around. And remember, we are here to help. If you have any questions about anything below, please don't hesitate to contact us!

First Time Home Buyer's Words of Wisdom

The following is a list of problems that new home owners experience. Fortunately, these issues can be easily avoided. The culprit behind most of these mistakes is simply lack of experience. When you are new to the world of home ownership, you can never ask too many questions. It is very easy to make a mistake. We can take the guesswork out of the process. Our Real Estate Team will educate you and offer solutions to any problems that may arise. The best way to avoid these pratfalls is educate yourself to them. Please take a moment to read through these. And please contact us should you have any questions. CONTACT US .

 

Top 10 Mistakes of Buyers

1) Timing

Timing Problems. Not planning the move to coincide with the end of their lease often creates a big dent in the budget. Check with your landlord about an early release clause from your lease if you are considering buying a home. This can be a big one but you don't have to let it become one! Take charge and put timing back on your side. We can help you. This is one of the first questions that we will ask you in our initial consultation. Sometimes a friendly reminder from your realtor is all you need!

2) Looking at Homes you can't Afford

Don't waste your time looking at houses that are out of reach. You may end up passing up the one that was the perfect match. . You might find that when you do a reality check and start looking in your price range that the houses are rather disappointing. Keep it simple. Get pre-qualified, find out where you stand, and then stick within your budget.

3) Buying the Wrong SIZE Home

It can be easy to over or under-estimate what you need and end up with a home that is either too small or too big. Consider how long you plan on being in the property and plan for any lifestyle changes that could possibly happen.

4) Buying in a NEIGHBORHOOD you know Nothing about

Make sure you take time to research the area. Think about whether or not this neighborhood will make you as happy as the house does. Let us help you gather the information you need. There are wonderful tools on our site that will let you research areas and find out school information , population density and much more.

5) Operating on a First-House-is-Best Theory

Operating on a First-House-is-Best Theory. Season your eyes by inspecting different types of homes. This will help establish your objectivity after coming from a renting situation. We can take the guesswork out of finding the perfect home. There are so many homes on the market that it is easy to jump on the first one you see. With our years of real estate experience, we will be able to tell you whether or not you can safely pass on a house or not.

6) Buying a Property that is Difficult to Resell

Many buyers fall prey to buying homes that will require a great deal of work to resell. Walk yourself through all the negatives to the property. Most first-time home buyers sell within five to seven years. Let us use our years of experience to guard you from making a purchase that you would possibly regret. We will give our 100% effort in finding a home that is truly the best match for you and your family.

7) Overextending Your BUDGET

Avoid feeling pinched - just because you have been pre-qualified to a certain level doesn't mean that is where your comfort zone is for payments. This is a pratfall that many buyers fall into, sometimes coerced into by unscrupulous business practices of lenders. Write down everything you spend for two months, that will give you a real picture of what you spend. Then plan for emergencies, vacations, savings, and upkeep of the new home. You'll have a much better picture of what kind of payments you can really afford. There are excellent tools on this web site for calculating what you will be able to afford in a monthly mortgage payment. CLICK HERE!

8) Being Indecisive

Being Indecisive. Take all the time you need, but don't be afraid to make a commitment when you've found your dream home. Everyone gets cold feet at some time during the process.

9) Choosing the Wrong Mortgage

Choosing the Wrong Mortgage. The thirty-year fixed rate is not the only or necessarily the best answer. Have your lender show you on paper how much each program will cost you and how they compare with each other. And we have a wonderful list of professional lenders that take you through each step showing you all the possible rates and packages available. CLICK HERE

10) Under-insuring the Property

Under-insuring the Property. Forgetting to increase insurance coverage as the home appreciates in value or neglecting to properly insure the replacement value of the contents. Talk to your insurance agent on a regular basis. They can also provide you with added information on the best way to maximize your protection on your home.

Don't fall prey to these! CONTACT US first before making your next move. Buying Real Estate can be a tricky.

 
 
Dave, Terry & Eric
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Dave, Terry & Eric Guempel     |    2101 Bluestone Dr., #106     |    St. Charles, MO  63303     |    Telephone:  314-602-9924
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