But just remember some of the advantages:
A home is more than a home.
The money you pay every month will be an investment in the future. Provided you have paid a realistic price, chances are your home will increase in value. Monthly mortgage payments (the part that reduces the principal loan balance) increase your equity, and that is a solid form of savings.

It is more than an investment.
It is a powerful tax benefit. The interest on your Mortgage and your property taxes are both tax deductible.

A home is more than a tax benefit; it is money in your pocket.
In order to have immediate benefits from your mortgage interest, you need only to increase your withholding allowances. This will increase your take-home right away. (Ask your tax consultant for the details.)

A home is more than just shelter.
A home is an anchor, something that cannot be pulled out from under you. It gives you the freedom to plan ahead. Your home gives you and your family a feeling of stability, where you can gain a greater sense of belonging to the community.

Your home is a personal statement.
You can customize your surrounding - be creative - decorate your home to reflect your own style and personality. You are in control and will have more privacy. Your home will be your comfort zone - your oasis from the rest of the world.

So relax and let's get started.
First things first... Ask yourself these questions.

Find out how much home you can afford.
You can interview a mortgage professional by phone and get a good idea about how much home you can afford. A lot will depend on your income compared to how much you owe. This is referred to as "income to debt" ratio. If you have a relationship with a particular bank you might want to start with their Mortgage Loan Department.

Remember, you are "shopping for money," so before you commit to anyone, take time to compare interest rates and how much the money it's going to 'cost' you. If you would like more details on this important aspect of your home buying experience before you talk to a lender, you may contact us to discuss your options: 214-550-5111

Next:
Decide where you want to live.
• Urban
• Suburban
• Rural

Decide what kind of home you want.
• Condominium
• Townhouse
• Single Family
• Zero Lot Line
• Mobile Home
• Lakefront
• Farmhouse w/acreage

Answer these questions, then make a list.
• How large of a home do you need?
• How many bedrooms and bathrooms?
• How many living areas and how much storage?
• Do you need a big kitchen?
• One or two stories?
• Do you want a large yard or pool?
• Do you want a special school district?
• Do you want new construction or an existing home in an established neighborhood?
• What kind of architecture do you prefer?
• What kind of flooring do you like best? Tile, wood or carpet?
• Do you want a "move-in ready" home?
• Would you rather handle the renovation yourself?
• When is your lease up?
• How soon do you have to move?

When you are making this list, consider your lifestyle.
• Are you going to start a family?
• Is there the possibility of a move in the future?
• Do you travel a lot?
• If you are single, will have a roommate?
• Do you want to be close to your work?
• What kind of floor plan will best meet your needs?
• Is public transportation a consideration?
• Are community amenities important?

Divide your list into three categories.
• What you absolutely, positively MUST HAVE.
• What would be nice, but you could live without.
• What you absolutely, positively DON'T WANT.

Let a professional help you your list.
When choosing a Real estate agent:

Consider this.
When sellers decide to sell their home, they sometimes interview several REALTORS®, then compare their credentials before choosing which one is best for them.

Buyers, on the other hand, many times end up with an 'accidental agent'.

You might ask, "What in the world is an 'accidental agent?" That's easy. It's an agent you meet by accident from an advertisement or dropping by an Open House.

The time to choose an agent is before the search begins!

Now you need an Advocate... a REALTOR® who will put you at ease by guiding you through the exciting process of purchasing your first home.

A good REALTOR® will be your partner in your home search, so don't worry about asking a few questions when you interviewing prospective candidates. You want a knowledgeable and resourceful representative, someone to work for you to help you find that perfect home.

Most of all, you want someone with whom you feel comfortable, and who will be there for you "from kitchen table to closing".

Remember that the agent who got along with your parents, best friend, sister, etc, might not be on the same wave length you are.

And with lots of new terminology... you will not only want a real pro, but also, a very patient 'real pro'!

Terminology
• Title Policies
• Option Periods
• Home Inspectors
• Home Service Contracts
• Appraisers
• Surveys
• Earnest Money
• Contract Addendums and Amendments
• Closing Costs
• Sellers Disclosures
• Deed Restrictions
• Mandatory and Voluntary Home Owners Associations
• PITI
• Loan Origination Points and Fees

You see, shopping for the home is the fun part. But all the details will get in the way of a satisfying experience if you don't have someone who knows how to take the mystery out of the process. That's where we come in.

Give us a call and we will get you on your way home!