Buying a Home in the Indianapols, Indiana Area Buying a home may be the largest investment that you will make in your lifetime. Not only are you choosing a place to live, and raise your family, you are likely investing a significant amount of your assets during this transaction. That is why it is imperative that you are prepared to take this major step. As your real estate agent, we will guide you through this process, to make sure that you are represented in every way. Our experience is extensive in making offers, negotiating, financing, mortgage rates, and troubleshooting... which will put your mind at ease, knowing that we will protect your best interests. Benefits of Owning Your Own Home: A Great Investment Potential Income Tax Savings A Feeling of Accomplishment More Space It Belongs to You! Let's find your new home!

• Do I have a steady income?
• Can I add a mortgage payment (or a higher mortgage payment) to my existing debt load?
• Will I be able to make a down payment?
• Do I have time to devote to buying a home right now?
• Do I need more space?
• Am I seeking the "pride/dream of homeownership"?

First time homebuyers in particular should examine:

• Can I afford both the mortgage and other expenses, such as electric, water, repair and maintenance costs?
• Do I plan to live in the house long enough to build equity?
• Do I have time to take care of a house - including responsibilities like mowing the lawn and repairing my property each spring?
  

How to Evaluate Your Needs and Wants:
Before you embark on your search for the perfect house, it is important that you make a realistic "shopping list" in an attempt to narrow your choices of properties. This is something that your REALTOR® can help with. Hunting for a home can be a time consuming process, especially if you have not determined in advance the parameters of your search. Many homebuyers make the mistake of misinterpreting a WANT as a NEED.

Examples of NEEDS:

• Enough square footage for comfortable living
• Enough bedrooms to accommodate your family
• Adequate number of bathrooms
• Eat-in kitchen
• Garage or basement for storage needs
• Lot size to accommodate children's play area

Examples of WANTS:

• Carpeting color, paint color, exterior color, roof color, etc.
• Pool or Jacuzzi (unless for medical reasons)
• Wood floors
• Bay windows
• Built-in entertainment center
• Skylights

Getting Financially Prepared:

• Determine your existing debt load, including school loans, auto loans, credit card debt.
• Investigate loan option with a mortgage company or mortgage broker.
• Obtain pre-qualification with a lender.
  

Buying and Selling Simultaneously:
What to do when you are looking to move and you're not sure which should come first - buying your new home or selling your existing home:

• Communicate with your REALTOR® so he/she knows your needs and your timeframe.
• Carefully calculate your financial needs, preparing for a worse case scenario.
• Ask your REALTOR® about possible buyback programs.
• Investigate bridge or short-term loans options for paying both mortgages.
• Determine if the purchase of your new home is contingent on the sale of your existing home.
• Determine if you can afford two mortgage payments.
• Decide how much time you will need to leave your existing home upon accepting an offer.
• Investigate temporary housing.