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First Time Home Buyer
Eight Steps for Buying Your First Home
Welcome to one of life’s great adventures: buying your first home! This journey is not just about brick and mortar – it’s about creating a sanctuary for new memories, a haven of comfort and the key to your future. These eight steps will help set you on a path for success. Your dream home is just a click or call away! Call us at (337) 478-1601 or visit our website at https://inglesafari.com/ to explore our listings and learn more about our services!
1. Do Your Research
Diving deep into housing market research is a step you simply can’t skip. This preparatory phase involves taking a close look at current market trends, assessing home values in your desired neighborhoods and gauging local supply and demand. Understanding interest rate trends and the economic health of your target area is also important. Remember that knowledge is power – it’s essential to making informed decisions with confidence and clarity.
2. Set Your Budget
When buying your first home, getting a handle on your finances is crucial. It helps you manage your expectations, ease any stress you may be feeling and narrow down your home search. A great starting point is to get a mortgage preapproval – it’s like having a golden ticket to the home buying theater. It tells sellers you mean business and, more importantly, tells you how much you can actually afford.
3. Craft Your Wish List
You’ve probably been dreaming of your first home for a while, and now is the time to map out your “must-haves” versus your “nice-to-haves.” You can start by asking the right questions: How many bedrooms do I really need? Is a home office necessary? Do I want a big yard or is a cozy balcony enough outdoor space? Knowing your non-negotiables will help you steer clear of beautiful distractions that might not fit your lifestyle or budget.
4. Choose Your Location
As the saying goes, it’s all about location. But what does that even mean? It’s more than just a spot on the map. It’s about the community, local schools, commute times and even the home’s future value. To get into a new home that you’ll love, focus down to three neighborhoods while considering their projected market trends in case you ever want to sell.
5. Work With a Real Estate Agent
From local market expertise and financing to legal requirements and negotiation, a good real estate agent can guide you through every step of the home buying process. A specialist in your chosen areas can alert you to available properties as soon as they hit the market, giving you a jump-start on the competition. Many federal and state assistance programs are also available to first-time buyers, essential information your agent can provide for you.
6. Start Viewing Homes
With your wish list in one hand and your preapproval letter in the other, it’s time to check out your options in person. You should attend plenty of open houses and ask your agent to pull back the curtain on any home that sparks your interest. Once you find that perfect property, your real estate agent is your #1 ally, helping you craft an offer that’s enticing to the seller yet protects your interests – especially in competitive markets.
7. Schedule the Home Inspection
This is another important step that your agent can help facilitate. After your offer has been accepted, a thorough property inspection will give you a clear understanding of the home’s condition. If any hidden issues are revealed, your agent can negotiate repairs or adjust the offer before you make your final decision.
8. Close the Deal
As you come down the final stretch, your real estate agent will help you navigate all the paperwork and legal considerations. Make sure you understand your obligations and ask questions if you need clarification. Once you’ve signed on the dotted line, swapped out that preapproval for a mortgage and handed over the down payment, congratulations – you’re a home owner!
Your first home is more than just a piece of real estate; it’s the cozy embrace at the end of a long day, the gathering spot for friends and family and the foundation upon which you’ll build your dreams. Unwrap the joy, embrace the journey and open the door to an exciting future.
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Commemorating Fair Housing Month
Commemorating Fair Housing Month
At the Coldwell Banker® brand, we are dedicated to promoting equal housing access for everyone. Together, we fully support the development of vibrant and inclusive communities. We reaffirm this commitment by observing Fair Housing Month in April. The History of Equitable Housing Laws The Fair Housing Act is a pivotal piece of legislation in the […]
At the Coldwell Banker® brand, we are dedicated to promoting equal housing access for everyone. Together, we fully support the development of vibrant and inclusive communities. We reaffirm this commitment by observing Fair Housing Month in April.
The History of Equitable Housing Laws
The Fair Housing Act is a pivotal piece of legislation in the United States. Enacted on April 11, 1968, it was part of the broader Civil Rights Act of 1968. Originating in the aftermath of the assassination of Dr. Martin Luther King Jr., the Act aimed to combat housing discrimination based on race, color, religion, sex or national origin.
Over the years, the Act underwent amendments to broaden its scope. It expanded to protect additional classes, including individuals with disabilities and families with children. Enforcement has evolved, resulting in the creation of the Department of Housing and Urban Development (HUD) and the establishment of fair housing organizations.
The Importance of Unbiased Practices
Despite progress, challenges persist, and the fight against housing discrimination remains ongoing. As we continue to strive for a more equitable society, it’s important to note how the Fair Housing Act benefits individuals, families, communities and society as a whole.
Access to housing in diverse neighborhoods provides individuals with more economic opportunities, leading to increased financial security while encouraging upward mobility. Inclusive communities are more likely to attract a wider range of businesses and investments. This results in job opportunities, improved infrastructure and overall prosperity. Housing laws also help create neighborhoods where access to quality education is available to every child. This ensures that all members of the community have the chance to receive a good education. It also helps break the cycle of inequality and promoting social mobility.
These laws are essential in building a society that values diversity, equality and inclusivity. Removing barriers to housing opportunities benefits of us all.
Visit us at coldwellbankerdiversity.com to learn how we are making a difference and how you can get involved.
Learn More About Fair Housing
- For up-to-date resources and information on how to avoid discriminatory practices, see the U.S. Department of Housing and Urban Development’s Housing Discrimination Under the Fair Housing Act.
- For the latest information on current housing trends and upcoming challenges, check out the Fair Housing Institute’s Reflecting on 2023, Anticipating 2024: Fair Housing Insights.
- The National Association of REALTORS® offers training in support of fair housing that members can take advantage of. Titled ACT!, this “fair housing action plan” promotes accountability, culture change and training that is grounded in experiential learning.
- To learn how real estate agents can actively support fair housing efforts, see 10 Ways for Real Estate Agents to Stay Compliant With Fair Housing Laws, Be a Fair Housing Champion and 30 Ways You Can Advance Fair Housing.
- For an in-depth exploration of how discriminatory laws have shaped our society, consider reading Amy McCoy’s Sheltered Injustice: From Jim Crow to Marshall Law: The Struggle for Fair Housing and Edward G. Goetz’s The One-Way Street of Integration: Fair Housing and the Pursuit of Racial Justice in American Cities.
Why Spring Is the Best Time to Buy a Home
Spring is widely recognized as the best time to buy a home, and it’s not hard to see why. The season is all about fresh starts and new beginnings, which feels just right when you’re about to make a big decision like purchasing a new home. Learn why now could be the right time to find the perfect place to call your own.
Market Reset and Increased Inventory in Spring
Spring marks the beginning of what is traditionally the busiest period in the real estate market. And after a few years of unpredictable market conditions, Money Magazine anticipates that 2024 could bring a much-needed real estate reset. With economies stabilizing and people adjusting well to post-pandemic lifestyles, the housing market is expected to reflect a more typical bustling season. This influx of listings increases your choices, giving you a better chance of finding a home that fits your exact needs and wants.
The Advantage of Clear Property Evaluations
Winter weather can hide many imperfections, from roofing issues to landscaping woes. As that weather recedes, getting a clear, unobstructed view of each property is easier. The return of milder temps also allows for a thorough inspection of the home’s exterior, including the condition of the paint, gutters, roofing and siding. As we move into the warmer months, you’ll also get a good peek at the property’s yard and landscaping – a big deal for many buyers. Seeing the full outdoor potential can really paint a picture of what’s to come, helping you dream up all the fantastic possibilities for your future garden or outdoor oasis.
Optimal Timing for Families
Buying a home in the spring is strategically sound for families with children. It aligns with the academic calendar, allowing families to relocate and settle in before the start of the new school year. This timing eases transitions for children and adults alike, providing the summer months to adjust to a new neighborhood, get all those new home tasks complete, make new friends and prepare for any school or work changes that come with moving.
Negotiation Opportunities
With the spring market’s rush of activity, there’s a unique push and pull that benefits savvy negotiators. Sellers looking to bounce back from the slower winter months are generally more open to discussions, and buyers are eager to purchase and settle in by summer. This mutual motivation can smooth the path to negotiations, potentially tipping the scales in favor of buyers looking for a good deal.
Spring Shows a Neighborhood’s Character
Milder weather not only revives trees and gardens but also community life. This uptick in activity can give potential buyers a true feel for the neighborhood’s character and lifestyle. Are the streets filled with playing children or is it a quiet, more reserved community? Is the neighborhood buzzing with local events and gatherings? Viewing a neighborhood in the spring can provide a clearer picture of daily life there. So when you visit an open house, be sure get a feel for the whole area.
While the best time to buy a home is when you’re financially and emotionally ready, March, April and May offer some unique advantages that can enhance the home-buying experience. Increased inventory, the ability to conduct thorough property evaluations, timing that suits family needs, favorable mortgage rates and negotiation potential all make spring an ideal time to take the plunge, whether you’re a first-time home buyer or an experienced buyer looking to find the perfect setting for your next chapter.
