Smith & Smith Realty Inc.'s Blog
Ready to submit a home loan application? Ultimately, there are many factors to consider before you finalize your submission, and these include:
1. Your Outstanding Debt
If you have outstanding student loan, car or other debt, you should try to pay it off as quickly as possible. By doing so, you can boost your chances of securing a home loan that matches or exceeds your expectations.
Take a look at your outstanding debt and make a plan to pay down your bills. With a plan in place, you may be able to reduce or eliminate outstanding debt before you complete your home loan application.
2. Your Credit Score
A strong credit score will help a homebuyer get a terrific home loan. Conversely, an inferior credit score is unlikely to do you any favors after you submit a home loan application.
Learn about your credit score before you finalize your home loan application. Then, you can allocate the necessary time and resources to boost your credit score or correct any errors on your credit report.
You are eligible for one free copy of your credit report from each of the three major credit reporting bureaus (Equifax, Experian and TransUnion). Request a copy of your credit report, and you can understand where your credit score currently stands.
Also, if you find any errors on your credit report, contact the credit reporting bureau that provided the report immediately. This will allow you to correct any credit report mistakes and reduce the risk that these errors could impact your ability to secure a home loan.
3. Your Savings
It never hurts to save money, especially if you'd like to purchase a home in the near future. If you start saving today, you may be better equipped than other homebuyers to have the necessary finances in place for a down payment on a house.
In most instances, lenders will require you to have at least a small portion of the purchase price of a home available for a down payment. If you have thousands of dollars available for a down payment, you may be able to boost your chances of getting a "Yes" from a lender after you submit your home loan application.
Getting a home loan may seem like a long, arduous process. Fortunately, many lenders are available to help you secure a great home loan.
Meet with several lenders as you explore all of your home loan options. That way, you can learn about a broad array of home loan options and choose a home loan that matches your finances perfectly.
After you secure a home loan, you'll be able to move one step closer to securing your dream residence. Of course, if you need assistance during the homebuying journey, it never hurts to reach out to a real estate agent as well.
A real estate agent will do everything possible to help you acquire a top-notch residence at an affordable price. Thus, if you employ a real estate agent, you may be able to enjoy a fast, seamless homebuying experience.
Moving into a new home can be overwhelming. Once you have gone through the long process of buying a home, when the keys are your hand, your mind could be swirling with tons of ideas for what you should do in your new space. There are a few important things that you need to complete before you get into painting those walls or buying a new sofa. Read on for tips.
Look At Your Things
In the excitement of moving, you may forget about all of the stuff that you actually moved into the home. If you hired movers, check your boxes. Make sure that nothing is broken or damaged from the move. If there is anything wrong, you can file a complaint with your moving company.
Turn The Utilities On
The utilities need to be turned over to you from the previous owner. In many cases, you’ll need to contact the local utility companies in order to get the bills switched to your name and the services started. This is important for you to have a completely functioning household. Cable and Internet is a choice provider that you’ll also need to set up ahead of time before your move.
Unpack Your Stuff
Rome wasn’t built in a day but you need certain things like clothes and coffee makers as soon as you move into a space. Find the boxes that have the most important things in them like sheets, blankets, clothing, and important appliances. Work your way out. You don’t want your new home to stay a complete disaster zone forever.
Organize Your Stuff
Moving into a new home gives you a new opportunity to get organized. Get everything in order the first time. This will keep you from needing to clean up constantly at a later date. When you start off with good organization you’ll be a lot happier in your new home.
Make sure that your new home is secure for your family. Think of everything from accidents to crime. Install an alarm system. Change the locks. Inspect the property for any hazards. All of these activities can help to make your new home a more secure place to live.
Learn About Your New Surroundings
When you move into a new neighborhood, you should take the time to get to know the area. This includes meeting your neighbors and taking a stroll around your neighborhood to see the area more closely. Discover the highlights of the area like restaurants, shops, and other activities. Enjoy the new place that you call home to the fullest!
If you want to purchase a luxury house in Miami, Orlando or elsewhere in Florida, it pays to be diligent. That way, you can speed up the process of going from luxury homebuyer to luxury homeowner.
Although it initially might seem like buying a luxury house in Florida will be a fast, seamless process, it is essential to note that various hurdles may arise along the homebuying journey. And if you're not careful, these hurdles may prevent you from acquiring your ideal Sunshine State luxury residence.
Lucky for you, there are many things that you can do to accelerate the process of buying a Florida luxury house, such as:
1. Make a Luxury Homebuying Checklist
Do you want to own a Florida luxury home that boasts a massive in-ground pool? Or, would you prefer a Sunshine State luxury house that is located just minutes from Disney World? Make a luxury homebuying checklist, and you can determine exactly what you want from your ideal luxury house.
A homebuying checklist can help you establish priorities as you search for your perfect Florida luxury house too. If you use this checklist to differentiate between your Florida luxury home must-haves and wants, you should have no trouble discovering your ideal Sunshine State luxury residence in no time at all.
2. Get Your Finances in Order
Purchasing a Florida luxury house likely will require you to obtain a jumbo mortgage. Fortunately, you can apply for a jumbo mortgage today to ensure you have your finances in order whenever you decide to submit an offer on a Sunshine State luxury home.
Meet with a variety of banks and credit unions to learn about all of the jumbo mortgage options at your disposal. Then, you can evaluate your options and select a mortgage that corresponds with your finances. And once you have a mortgage in hand, you'll be ready to enter the Florida luxury housing market and pursue your ideal residence.
3. Collaborate with an Expert Real Estate Agent
Regardless of whether you want to buy a luxury house in St. Augustine, Tampa Bay or any other Florida city or town, an expert real estate agent can help you make your luxury homeownership dream come true.
An expert real estate agent knows exactly what it takes to identify and address potential luxury homebuying hurdles. As such, this housing market professional will do everything possible to help you overcome these problems, increasing the likelihood of a fast homebuying journey.
Furthermore, an expert real estate agent understands the ins and outs of the local housing market and can help you plan accordingly. This means if you want to purchase a luxury house close to the beaches in Miami, a real estate agent can help you accomplish your goal. Comparatively, if you want to buy a luxury house near family members in Gainesville, a real estate agent will make it simple for you to do just that.
Ready to purchase a Florida luxury house? Use the aforementioned tips, and you can speed up the homebuying journey.
With dozens of beautiful beaches, many outstanding attractions and landmarks and warm, comfortable temperatures year-round, there's a lot to like about living in Florida. As such, Florida luxury houses are in high demand, and those who want to purchase a Sunshine State luxury home may need to act quickly to find the perfect residence.
Ultimately, there are several factors to consider before you buy a Florida luxury home, and these include:
1. What You Want in a Dream Home
Do you want a Florida luxury residence with a built-in spa and swimming pool? Or, would you prefer a Sunshine State luxury home with a rich, luscious garden? Think about what you want to find in your ideal Florida luxury house, and you can narrow your home search.
Oftentimes, creating a checklist of luxury home must-haves is a great idea. This list will enable you to differentiate home must-haves and wants, and as a result, help you speed up your search for the perfect Florida luxury house.
It also helps to be realistic as you kick off a Florida luxury home search. In many instances, it is virtually impossible to find a luxury house that will have every item on your homebuying checklist. But if you prioritize your checklist, you'll be better equipped than ever before to discover a Florida luxury house that matches or surpasses your expectations.
2. How Much Money You Can Spend on a Home
As a luxury homebuyer, you may need to obtain a jumbo mortgage before you enter the Sunshine State housing market. Fortunately, if you reach out to lenders today, you can find a jumbo mortgage that suits you perfectly.
Remember, when it comes to getting a jumbo mortgage, it helps to consult with several lenders. This will enable you to learn about a variety of jumbo mortgage options and select the best option based on your finances.
Keep in mind that you likely will need to have money on hand for a down payment too. Thus, if you plan to acquire a luxury house in Orlando, Miami or elsewhere in the Sunshine State, you'll want to save money ahead of time to cover the down payment on your home.
3. Where You Want to Live
The luxury homes in the Everglades are far different from the luxury residences in South Beach. At the same time, the luxury houses in Naples may prove to be more expensive than those in Gainesville. Therefore, you'll want to consider where you want to live prior to starting a home search so you can plan accordingly.
Lastly, it generally helps to hire a real estate agent to guide you along the homebuying journey.
A real estate agent understands the ins and outs of the Florida luxury housing market. He or she can keep you up to date about luxury houses in Florida cities and towns where you want to live and help you submit a competitive offer on your dream house. By doing so, this housing market professional will ensure that you can acquire the perfect Sunshine State luxury residence at your convenience.
If you want to quickly find and acquire your dream house, it generally is beneficial to narrow your property search. Because if you focus on available homes in a select group of cities and towns, you may be able to speed up the process of buying your ideal residence.
Now, let's take a look at three tips to help you locate your dream home.
1. Consider Your Short and Long-Term Aspirations
Think about where you want to be in the next few years. Then, you can map out your home search based on your short- and long-term goals.
For instance, if you currently work in a big city and intend to stay with your company for many years, you may want to search for a residence in the city itself. Or, if you plan to start a family soon, you may want to focus on houses near parks and schools.
You should try to be flexible as you begin a home search too. Remember, even the best-laid plans won't necessarily come to fruition. But if you maintain flexibility, you could find a home that will suit you perfectly both now and in the future.
2. Create a Budget
The homes in large cities tend to be more expensive than those in small towns. Fortunately, if you craft a homebuying budget, you can determine where you can afford to reside and plan accordingly.
Oftentimes, it helps to get pre-approved for a mortgage. If you meet with banks and credit unions, you can learn about myriad home financing options. Next, you can select a mortgage and enter the real estate market with home financing in hand.
If you have concerns as you pursue a mortgage, don't hesitate to ask questions. Banks and credit unions employ expert mortgage specialists, and these professionals are happy to provide you with the insights you need to make an informed home financing decision.
3. Collaborate with a Real Estate Agent
If you are uncertain about how to approach a home search, there is no need to worry. In fact, you can hire a real estate agent who can help you identify your dream residence.
A real estate agent is dedicated to client satisfaction, and he or she will work with you to make your homeownership dream come true. First, a real estate agent will help you narrow your house search. This housing market professional then will keep you up to date about available homes in your preferred cities and towns. Once you find a house you want to buy, a real estate agent will help you submit a competitive offer to purchase this residence. Finally, when you are ready to close on a house, a real estate agent will help you complete your home purchase.
Dedicate time and resources to find your dream house – you'll be glad you did. Thanks to the aforementioned tips, you can accelerate the process of locating your ideal residence and acquire a house that can serve you well for years to come.