The more you know about the process of buying a house, the better prepared you'll be for doing it successfully.
How might you define "success" when it comes to purchasing a home?
There are a lot of standards that could be applied to successfully navigating the home buying process, but here are a few that immediately come to mind:
- Finding the house of your dreams: While very few people find a home that is absolutely perfect in every way, it is possible to come close to achieving that ideal. Although a certain amount of flexibility goes a long way, knowing what you want and prioritizing important features are among the main prerequisites to getting what you want. As baseball legend Yogi Berra once said, "If you don't know where you are going, you'll end up someplace else." Thanks to the variety of websites devoted to home ownership, home decorating, remodeling, and landscaping, it's easy to find pictures online that can help inspire your imagination and clarify exactly what the house of your dreams might look like.
- Minimizing setbacks and frustrations: The process of house hunting is a journey that often involves bumpy roads, detours, and dead ends. One secret to getting through it successfully is to work with an experienced real estate agent who knows the ropes and can keep you on track. It also helps to approach house hunting with a sense of optimism, resourcefulness, and commitment. Although you probably have a lot of competing priorities in your life, finding a house that you and your family will be happy in for the next few years deserves a top spot on your list!
- Avoiding unpleasant surprises: Knowing your credit score and understanding the impact it will have on getting loan approval and a favorable interest rate will help prepare you for the financial side of buying a house. The ability to get prequalified for a mortgage and come up with sufficient down payment will also set the stage for a successful home buying experience. On the plus side, a higher down payment can potentially result in a lower interest rate and not having to pay private mortgage insurance (A 20% down payment is necessary to avoid PMI.) Since many loan programs and lenders require at least a 3-5% down payment, that can be a stumbling block for first-time home buyers. To purchase a $200,000 home, for example, you'd need to come up with a cash outlay of between $6,000 to $10,000 -- not an easy feat for everyone!
About the Author
Ellen Garcia
Ellen Garcia Broker, GRI, SRS, ABR, RSPS, SRES, RENE, MRP, LRS, LSE, LSS, AHWD, e-PROÒ Ellen believes that listening and understanding her clients' needs are the foundation of a successful business partnership. Her knowledge of the many unique communities in Fairfield County is an invaluable asset to clients new to the area, and she is able to help anyone moving to, from or within Fairfield County make an easier transition into a new home and community. For clients who are preparing to sell their homes, Ellen offers her first-hand knowledge of how to leverage the strength of a "brand" in showcasing and marketing their properties. Ellen offers a powerful advantage in bringing her skills and resources to work for her clients. With over 10 years, of full-time experience in the real estate industry, she is well-versed in the Fairfield County real estate market. Ellen has successfully completed: · Over 130 closed sales and rental transactions · Representing a dollar volume of over $65 million Ellen’s people skills lead the way in building a strong network to assist and support her clients in achieving their goals through every step of the real estate process: · Negotiations both local and global · New business development (sales & marketing) · Creative problem solving · Building partnerships · Tapping into Halstead Property’s network of 1100 agents in NYC and Lower Fairfield County Her career in Real Estate has been recognized with many awards including: "Agent of the Year” for Halstead Property Wilton and "Most Closed Sale and Listing Transactions” numerous times. Within Connecticut, Ellen has been recognized over the past several years as a "Connecticut Magazine 5 Star Realtor”. Awards 2016 & 2014 AGENT OF THE YEAR – HALSTEAD WILTON – HIGHEST GROSS SALES 2016 - 2011 CONNECTICUT MAGAZINE 5-STAR REALTOR AWARD 2016 - 2013 MOST CLOSED LISTINGS – Wilton Office 2016, 2014 - 2012 MOST CLOSED SALES – Wilton Office 2016, 2015, 2014 HALSTEAD PROPERTY PRESIDENT’S COUNCIL 2013, 2012 & 2011 HALSTEAD PROPERTY DIRECTOR’S COUNCIL 2014 HALSTEAD – PLATINUM CIRCLE 2016 HALSTEAD - GOLD CIRCEL 2015, 2013 HALSTEAD – SILVER CIRCLE 2007 COUNTRY LIVING ASSOCIATES OUTSTANDING RELOCATION SPECIALIST PRESIDENT'S AWARD (2005, 2006 & 2007). Leading Real Estate Companies of the World PREMIER CLUB – SILVER AWARD FOR REFERRAL ACHIEVEMENT (2006) Sales Associates Recognition Program Professional Associations: · Connecticut Association of Realtors (CAR) · National Association of Realtors (NAR) · Consolidated Multiple Listing Service (CMLS) · Connecticut State-wide MLS (CTMLS) · Mid-Fairfield County Association of Realtors (MFCAR) · Senior Advantage Real Estate Council (SAREC) · Real Estate Buyer’s Agent Council (REBAC) · Seller’s Representative Specialist Council (SRS) · e-PRO Professional Designations: · BROKER · ABR (Accredited Buyer Representative) · SRS (Seller’s Representative Specialist) · RENE (Real Estate Negotiation Expert) · GRI (Graduate Realtor Institute) · RSPS (Resort and Second Property Specialist) · MRP (Military Relocation Professional) · SRES (Seniors Real Estate Specialist) · LRS (LeadingRE Relocation Specialist) · LSS (LeadingRE Sales Specialist) · LSE (LeadingRE Service Expert) · AHWD (At Home with Diversity: One America) · REALTOR e-PRO · CONNECTICUT TRUST FOR HISTORIC PRESERVATION
