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Are you looking for your first home to buy either for yourself or for your family? Investing in Gilbert real estate is a smart decision and Troy Reeves and the Troy Reeves Team can help you out with just that! If you are looking into your first Gilbert real estate investment, below are some tips to help you out!
Determine What You Can Afford
Be smart and realistic when you are looking at homes, meaning look at what you can and can not afford in Gilbert. Pull up a mortgage calculator and figure out what your monthly payment is going to be so you know just how much you will be paying for your new home. Be sure to take an average of bills, insurance, property tax, HOA and any other bills that you may be paying as well so you have an idea of your actual monthly payment.
Lender Qualification
When you determine what you can afford, it is a smart idea to see what your lender will actually loan you. Your lender will need to look at your credit score, debt, income and more to determine what they will be willing to loan you.
Comparable Homes
One thing to keep in mind is how homes are selling in the Gilbert neighborhood you are looking at. When you go to purchase your home, you want to make sure that homes in the same neighborhood are comparable. If they aren’t, there may be a reason why and you should dig deeper into why the home you are looking at is either more or less than the others.
Learn Real Estate Vocab
If you are a first time buyer, you may not know what FHA means or why a short sale is called a short sale. Your Gilbert real estate agent will be able to help you with the terminology and what everything means, but be sure to brush up on the lingo so you are properly versed while looking at homes.
Home Inspection
Finding the right home inspector is very important. Be sure to consult with more than one and determine their qualifications, what you should expect in the report and how long it will take. If the inspection uncovers a big problem, there may be a chance you will want to back out of the house, so be sure to have all of the major electrical, plumbing, foundation, etc. inspected.
Take all of these tips into consideration while you are looking for your new home to buy. Be sure to contact Troy Reeves and the Troy Reeves team to help you purchase your new Gilbert real estate.
“by Troy Reeves” at Google
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