STEP 5: CHOOSE A HOME 

Choosing a home is an enormous decision to make so choosing the right

one to fit all of your needs is very important. 

Is it THE house? 

I'm sure you've heard the term "A man's home is his castle". Your home

is a place where you relax, bring friends, you raise your children here

and even work! Most of your life is spent in your home so choosing that

perfect home is a major decision so you want to make sure you choose

THE home for you and your family. Start by looking at as many homes as

possible. This is where Miamirealtyfinder.com comes in. Here you can

view as many homes as you'd like, check prices, and get any information

on the neighborhoods of your choice. Once you have narrowed down your

search contact Miamirealtyfinder.com to get more thorough information

and hear your options. 

Can You Really Afford It? 

Now that you have been preapproved, you have a good idea of how much

money you can borrow and how much home you can afford. Keep in mind,

however, that a pre approval in not necessarily a loan commitment. The

lender still need to check appraisals and updated credit reports.

Regardless of fluctuating interest rates, for the most part pre

approval nonetheless can provide an analysis of what you can afford.

Loan officers are usually paid when the actual loan is originated so it

wouldn't be beneficial to the loan officer to suggest high loan limits

that later can't be delivered. 

Wait! Are You Buying the Right House? 

What an amazing feeling it is finding the perfect property for you. It

possesses all the features and qualities you have been looking for and

more! It's your dream house and you love it! Then a million questions

run through your mind, "Can we afford it?" "Will they accept our

offer?" "How long will it take?" These positive feelings are a definite

deciding factor in buying a new home. But don't let these feelings

overrule reasonable assessment of whether this home really fits your

needs. Answer these questions before making a rational commitment about

buying. 

Price - Even though your lender is willing to give you the loan amount

you want are you really able to make the monthly payment involved? Have

you thought about moving costs and transaction costs? Are there any

major repairs or remodeling to take in consideration that comes out of

your pocket? 

Condition- Along with the price, the condition of the home should be a

huge factor. Plumbing and electrical wiring is expensive to repair. A

new roof is phenomenal. Find out if the house is disaster ready (are

there existing window treatments for hurricane season?). A fixer-upper

can be an exciting project but do you have the funds for it? Not to

mention will you be able to live in a home that is not yet up to your

standards? 

Size and configuration- Take in consideration the right combination of

bedrooms, bathrooms, and other living areas. Can your family adjust to

the size of the house? Is that small room in the corner really

sufficient for the nursery? Is one bathroom going to be enough and if

not do you have the time and money to add a second one? Is your garage

high enough for your SUV? 

Comfort- Is the house adequately heated and cool/is it central? If the

house is more than one story, how do you feel about walking up and the

stairs throughout the day? Do your guests have to use the bathroom

upstairs or is their one available on the first floor? 

Style- Is the style of the home going to mix well with your furniture?

Do you really want southwestern furniture in a colonial home? 

Resale Potential- One the average, people move to a new home every

seven years. If you were unexpectedly forced to sell your property how

quickly do you think you could finder a buyer this ready, willing and

able? 

Features- Quite often buyers are in awe of the Olympic sized pool or

the commercial-grade kitchen. Immediately they fall in love the

ornamental trees or the historical hard wood floors. But more times

than others these amenities are more of a headache than a pleasure. 

How to Choose a Home 

Here Are Some Tips to Help Determine Which House is Best For You 

First, choose a few neighborhoods that peak your interest the most

then pick out a few home too tour. Bring a list with reminders of the

features and amenities that are most important to you. 

Types of Homes 

Single family home: One home per lot. 

Multifamily homes: Some first - time buyers start with a multiple

family dwelling, they have rental income to assist with their costs.

Some mortgage plans (including VA and FHA loans) can be used for

properties up to four units - if the buyer intends to occupy one of

them. 

Co-ops: Cooperative apartments are most popular in cities. This is a

share in a corporation that owns the whole building and each individual

has a lease their own apartment. It is managed by a board of directors. 

Condominiums: Just as a with single house, you own "from the plaster

in". Also a percentage of the common elements such as roofs, sidewalks,

stairwells, etc. 

This is what happens from the buyer's side: The seller begins with an

asking price and other terms and places a home on the market, this is

an offer. The buyer now has three choices, accept the offer and start a

contract, reject it and not make an offer, or make a counteroffer with

your own terms. With a counteroffer, the seller make accept or make

his/her own counteroffer. 

The most complicated variable about the home buying process is the

bargaining between buyers and sellers. Is the when having a

well-qualified, experienced and knowledgeable realtor comes is. Knowing

the community is a valuable resource because this means they have spent

many years negotiating local realty transactions.