You’ve decided to buy!
Buying a home can be one of your most significant investments in life. Not only are you choosing a home, you are most likely investing a large portion of your assets into this venture. The more prepared you are at the outset, the less overwhelming and chaotic the buying process will be. The goal of this page is to provide you with detailed information to assist you in making an intelligent and informed decision.
Remember, if you have any questions about the process, we are only a phone call or email away!
VIEW CURRENT LISTINGS AND SEARCH FOR YOUR DREAM HOME!
BENEFITS OF HOME OWNERSHIP
Freedom and individuality
Stable monthly housing expenses
Income Tax Savings
Florida Homestead Tax exemptions (full time Florida Residents only)
Long term equity growth (like a forced savings account!)
Pride of ownership
PREPARING FOR THE PURCHASE OF YOUR NEW HOME
What can I afford? Before starting your search, consider that your monthly mortgage payment typically includes an escrow account to pay for taxes and insurance. Please remember the MORTGAGE CALCULATOR tool is provided as a reference tool for preliminary planning and not to represent your exact situation.
However your BEST course of action is to…
GET PRE-APPROVED FROM A MORTGAGE LENDER
It is best practice to have your loan Pre-Approved. Sellers know that you are a serious buy with the backing for a mortgage lender. Pre-qualified means your mortgage lender has verified your finances, including assets, employment and many other factors required by the lender. Pre-Qualified is different than Pre-Approval in that Pre-Approval is merely a tool to determine what you MIGHT qualify for, Pre-Qualified has verified your particulars.
AVOID THE FOLLOWING!
ONCE PRE QUALIFIED DO NOT “move money around”.
No major purchases as these will change your financial picture
Don’t buy that Car/Boat/RV/Airplane. Any new payments and debt will affect your Debt-to-Income level which can affect your mortgage position.
FHA OR VA FINANCING?
Extra Costs to the Seller
FHA and VA appraisals
Remember, Selling price and down payment are not the your final expenses. Remember to budget for estimated closing costs, inspections and other costs. Of course these can be negotiated, but don’t forget to consider them. Additionally keep a comfortable “cushion” for unexpected expenses and those new goodies for the new house.
FINDING “THE” HOME!
Our team will work closely with you to search the Multiple Listing Services (MLS) or our region to find the perfect home. We are not limited to Cape Coral, but can look in the entire SW Florida region, From Naples to Punta Gorda we will surely find a home to meet your style, lifestyle, needs and price.
THE “OFFER”
Once you’ve select that dream house, we’ll research the comparable properties in the area to make certain you offer the right price.
CONSIDERATIONS
Contingencies
Earnest Money
The Closing date
Transfer of Possession
Writing the offer and safeguards regarding the property
Property Conditions
Seller Disclosures
Inspections you should require
Final walk through inspection
HOME BUYING TOOL KIT
HOUSE VIEWING CHECKLIST (download PDF)
This checklist will aid you in keeping accurate notes about each house you view with our Realtors. (print one for each house you view)
MORTGAGE CALCULATOR
For additional information INSURANCE, PROPERTY TAXES, SAMPLE CONTRACTS and more can be found on our CONCIERGE REAL ESTATE SERVICES page.
RENT VS. BUY CALCULATOR (download Exel spreadsheet)
Purchasing and owning a home involves more than your monthly payment. This calculator helps your with some economic considerations.
PURCHASE CHECKLIST (download PDF)
