zyris-mccormick

Homebuying 101: Overcoming Adversity, Don't Give Up!

Wed, 10 Sep 2025 17:40:42 GMT

Real Estate Tips With Zyris McCormick

Buying a home can feel overwhelming, especially in a competitive market where homes sell fast and offers come in strong. But remember this: your dream home is out there, and persistence pays off.

In this video, I share some motivation and perspective for buyers who might be feeling discouraged. Whether you’ve lost out on a few offers or you’re just starting your search, it’s important to stay focused on your goals and keep your “why” in mind.

Stay patient, stay positive, and don’t give up. The right home will come at the right time.

�� Watch the full video to get inspired and refocused on your home buying journey!

Homebuying 101: Finding The RIGHT Real Estate Agent

Tue, 22 Jul 2025 16:12:55 GMT

Real Estate Tips with Zyris McCormick

Thinking about buying a home? �� Before you commit to working with any real estate agent, it’s important to ask the right questions first.

In this video, I share the key questions every buyer should ask before signing anything, whether you’re considering a referral from a friend or connecting with an agent you found online.

Knowing what to ask can help you:

Find the right agent who truly fits your needs
Avoid costly mistakes during the buying process
Enjoy a smoother, more stress-free home buying experience
Feel confident in your decision from start to finish

Click play to watch the full video and learn what to ask before choosing your agent!

Homebuying 101: Step 1 – Make the Decision

Wed, 11 Jun 2025 15:21:07 GMT

Real Estate Tips with Zyris McCormick

Becoming a homeowner doesn’t start with browsing listings or calling a loan officer, it starts with a decision. In the very first video of my Home Buyer 101 series, I break down why the most important step in the home-buying journey is simply committing to the process.

Too often, people say they want to buy a house but stay stuck in the same place months or even years later. By making the decision to move forward, whether that means saving money, fixing credit, or planning for the right time, you create a clear target to aim for.

This series is designed to guide you step-by-step through the process of buying a home in Buffalo, NY and beyond. Whether you’re ready today or preparing for tomorrow, it all begins here.

�� Watch the full video below to learn why making the decision is the true starting point of your homeownership journey.

Real Estate Market Forecast: Opportunities for Home Buyers and Sellers in 2024

Mon, 22 Jan 2024 17:25:04 GMT

A growing share of home buyers and sellers sat on the sidelines last year as the pace of home sales continued its downward trajectory.1 In fact, since the Federal Reserve began its series of interest rate hikes in 2022, the combination of higher borrowing costs and record-high home prices has fostered the steepest real estate market slowdown since the 2008 recession.2

Priced out of the market, a generation of would-be buyers has been forced to delay their plans for homeownership.3 At the same time, current owners—reluctant to give up their pandemic-era mortgage rates—are waiting to sell, which has resulted in a sharp drop in listings.4

But there may be some relief in sight: In December, the Fed signaled that it was done raising interest rates—and suggested that it could cut rates by 0.75% over the coming year. While mortgages don’t directly follow the federal funds rate, they typically move in tandem—so cheaper home loans may finally be on the horizon.5

Lower mortgage rates should bring some much-needed movement back into the real estate sector. But with a market this fluid, the home buyers and sellers with an edge will be those who proactively leverage a real estate agent’s on-the-ground expertise and stay flexible so that they can quickly adapt to changes.

What does that mean for you? Read on to learn more about the current state of the U.S. housing market, the potential opportunities for buyers and sellers, and economists’ predictions for the year ahead.

HOME PRICES WILL REMAIN RELATIVELY STABLE

Not even 8% mortgage rates could bring home prices crashing down in 2023, as some prospective home buyers may have hoped. In fact, on average, U.S. property values ended the year higher—with declines in some areas of the country offset by appreciation in others.6

Prices typically fall when rising interest rates drive down demand. So what’s keeping home values high?

Mike Simonsen at Altos Research points to a nationwide housing shortage: “Declining home prices probably require that supply-and-demand imbalance, and what we have is really a balance. There's a balance between low demand and low supply.”7

Analysts expect that equilibrium to continue to prop up home prices in 2024, although the specific forecasts vary. For example, economists at Realtor.com predict that the median home price will fall slightly, by 1.7%, while those at Fannie Mae project modest price growth of 2.8%.6,8

However, experts widely agree: Mortgage rates will be the largest driver of property values. If rates fall faster than expected, more buyers will enter the market—which could send home prices soaring higher.

What does it mean for you? There’s no evidence that home prices are headed for a major decline. So if you’re ready and able to afford a home, this is a great time to test the waters. The best bargains are often found in a slower market, like the one we’re experiencing right now. Contact us to discuss your goals and budget. We can help you make an informed decision about the right time to buy.

And if you’ve been waiting to sell your home, this could be your year. Price growth has slowed, so now is the time to maximize your equity gains while minimizing your competition. Contact us for recommendations and to find out what your home could sell for in today’s market.

MORTGAGE RATES SHOULD FINALLY TREND DOWN

The best news we've got incoming for 2024? The extra-high mortgage rates that have weighed heavily on the real estate market may finally be headed south.

At its December meeting, the Fed signaled that the worst is likely behind us and that it expects to cut its overnight rate in 2024. Analysts predict that mortgage rates will fall in lockstep.5

“Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year,” said Freddie Mac’s Chief Economist Sam Khater following the announcement.9

The average 30-year fixed mortgage rate has already declined from an October high of around 8%, and analysts at Fannie Mae, the Mortgage Bankers Association, and Realtor.com all forecast that rates will trend down this year, ending 2024 closer to 6%.7

However, it’s not all good news: It appears that the days of 3% mortgage rates are firmly behind us. “As long as the economy continues to motor along, the new normal of higher rates is here to stay,” explains Greg McBride, chief financial analyst for Bankrate.4 So, when it comes to a home loan, borrowers may need to adjust their expectations.

What does it mean for you? If you're a prospective home buyer, declining mortgage rates could give you the opportunity to lock in a more affordable monthly payment. And if you purchase before the market reheats, you could secure an especially good deal. To find the lowest rate, it pays to compare lenders. Ask us to refer you to a mortgage broker who can help you shop around for the best option.

Sellers also have reason to celebrate buyers' lower interest rates: As the barriers to entry to the housing market decline, they could enjoy more or better offers. Reach out to discuss how we can help you maximize your home’s sales potential.

LOWER RATES WILL BRING SOME BUYERS AND SELLERS BACK TO THE MARKET

Over the past couple of years, higher mortgage rates have cooled home buyer demand. They’ve also delayed the plans of many home sellers, who have been reluctant to trade in their current mortgages for loans that are several points higher.

With so many market participants playing the waiting game, the real estate sector has slowed significantly. National Association of Realtors (NAR) Chief Economist Lawrence Yun estimates that the number of existing home sales fell by 18% last year following a 17% decline in 2022.10

However, as financing costs tick down, sales volume is expected to rise. “Lower mortgage rates would help spur home sales activity, which [is] expected to increase in 2024 compared to 2023,” explains Selma Hepp, chief economist at CoreLogic. “Declines in mortgage rates will drive more sellers to trade their existing home and help add much-needed inventory to the market, leading to more transactions.”4

There’s also evidence that the patience of holdout home buyers may be waning, despite higher borrowing costs. A recent survey by Bank of America found that the number who are willing to wait for prices or mortgage rates to decline before making a purchase fell from 85% to 62% in just six months.11

“When it comes down to it, if buying a home is your goal and within your budget, the best time to buy is when you're ready financially and you can find a home that fits your needs,” Matt Vernon, head of consumer lending at Bank of America, advised in a recent release. “Even in the current interest rate environment, there are clear benefits to purchasing a home and beginning to build equity.”11

What does it mean for you? If you’ve been waiting to buy a home, you might want to consider purchasing before the competition picks up. Pent-up demand could bring a flood of buyers back into the market as mortgage rates decline. Contact us if you’re ready to begin your home search.

If you’re hoping to sell this year, you may also want to act fast. An increase in listings will make it harder for your home to stand out. We can help you chart the best course to maximize your profits, starting with a professional assessment of your home’s current market value. Reach out to schedule a free consultation.

THE HOUSING SUPPLY SHORTAGE WILL PERSIST

Will home buyers who are eager for options have more homes to choose from this year?

Yun thinks so. He believes sellers will soon grow weary of waiting to list. “Pent-up sellers cannot wait any longer. People will begin to say, ‘life goes on,’” the NAR economist speculated at a November conference. “Listings will steadily show up, and new home sales will continue to do well.”10

But not everyone agrees. Economists at Realtor.com forecast that inventory could drop by as much as 14% this year. The decline in existing homes for sale has been compounded by a persistent shortage of new construction, with single-family housing starts falling 10.3% in 2023 and 11.2% in 2022.6

Even so, newly-built homes are playing an increased role in easing the supply crunch, accounting for around one-third of all homes for sale in 2023—which was twice the historical average.12 But new construction alone isn’t expected to fill the inventory gap.

According to First American Financial Corporation’s Chief Economist Mark Fleming, the U.S. currently has a shortfall of around one million homes, and conditions won’t ease until individual owners re-enter the market. “Only when more homeowners decide to sell, and then buy again, will housing supply and the pace of sales return to anything resembling normal.”13

What does it mean for you? Inventory remains tight, but buyers can benefit from the search expertise of a real estate professional. We can tap our extensive network to access off-market and pre-market listings while helping you explore both new construction and existing homes in our area.

While sellers will continue to benefit from the low-inventory environment, they should be prepared to compete against brand-new homes. We can help you prep your property for the market and highlight the features most likely to appeal to today’s buyers.

WE'RE HERE TO GUIDE YOU

While national real estate forecasts can give you a “big picture” outlook, real estate is local. And as local market experts, we know what's most likely to impact sales and drive home values in your neighborhood. As a trusted partner in your real estate journey, we'll keep our ears to the ground so that we can guide you through the market's twists and turns.

If you’re considering buying or selling a home in 2024, contact us now to schedule a free consultation. Let’s work together and craft an action plan to meet your real estate goals.

The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

CNN -

https://www.cnn.com/2023/10/19/homes/existing-home-sales-september/index.html

Goldman Sachs -

https://www.gspublishing.com/content/research/en/reports/2023/10/23/2d814362-a656-4cb3-8586-bea8591188e3.html

ABC News -

https://abcnews.go.com/US/millennials-priced-homeownership-feeling-pressure/story?id=105032436

Bankrate -

https://www.bankrate.com/real-estate/housing-market-2024/

CBS News -

https://www.cbsnews.com/news/interest-rates-are-paused-heres-why-thats-good-news-for-homebuyers/

Realtor.com -

https://www.realtor.com/research/2024-national-housing-forecast

NerdWallet -

https://www.nerdwallet.com/article/mortgages/2024-homebuying-trends-property-line-november-2023

Fast Company -

https://www.fastcompany.com/90991612/home-price-2024-outlook-fannie-mae

Freddie Mac -

https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-drop-below-seven-percent

National Association of Realtors -

https://www.nar.realtor/newsroom/nar-chief-economist-lawrence-yun-forecasts-existing-home-sales-will-rise-by-15-percent-next-year

Bank of America -

https://newsroom.bankofamerica.com/content/newsroom/press-releases/2023/12/bofa-report-shows-fewer-prospective-homebuyers-willing-to-wait-f.html

Marketplace -

https://www.marketplace.org/2023/11/27/mortgage-rates-new-home-sales/

First American -

https://blog.firstam.com/economics/whats-the-outlook-for-the-housing-market-in-2024

35 Tips to Furnish Your New Home for Less

Tue, 14 Nov 2023 21:10:25 GMT

Buying a new home is one of the most exciting experiences in life. And if you’re like most homebuyers, you’ll be planning your furniture placement and decor before the ink dries on your offer letter.

But before you run to the nearest home goods store, take a deep breath. First, you’ll need to delay any major purchases before you close on your new home. A large outlay or additional line of credit could lower your credit score and, thus, impact your mortgage terms.1 Second, moving and closing costs can add up quickly, so it’s important to be strategic with your remaining budget.

But don’t worry! There are plenty of ways to save on home essentials, and we’ve rounded up some of our favorites to share with you.

PRIORITIZE WHAT YOU REALLY NEED BEFORE YOU START SHOPPING

According to Home Advisor, the national average cost to furnish a new house is $16,000, but it can easily soar higher.2 That’s why we recommend starting with a thorough assessment of what you already have and what you actually need to start life in your new place. Here are some steps to help you prioritize your purchases and keep spending in check.

1. Make a list of everything you need. Going room by room could help you brainstorm—for example, you might list items ranging from a mattress to blackout curtains for your new primary bedroom.

2. Inventory what you already have. Cross the big (dining table) to the small (kitchen knives) off your list as you go.

3. Divide the remaining items into three groups: things you need right away (a mattress), items you’d like to have in the near future (a coffee table for your living room), and pieces that can wait (an area rug).

4. Calculate your budget. Figure out how much money you’ll have available for immediate purchases after the sale has closed, and start researching the items on your priority list to understand how they’ll fit into your budget.

5. Don’t rush the process. Bringing older items to your new space doesn’t mean you need to keep them forever. Consider hanging onto pieces that can tide you over for a year or two until your bank account has recovered from the costs of a home purchase.

Before you start shopping, make sure you know which appliances and fixtures are included with your home purchase. We can inform you of the standard contract terms when you’re making an initial offer and note any additional items that you would like to request.

TIME YOUR PURCHASES TO MAKE THE MOST OF SEASONAL SALES

Did you know that some home items predictably go on sale at certain times of the year? If you can wait to buy these pieces when prices are lower, you could save significantly. Here are some of the best times to buy household essentials:3,4

Bedding and linens: January

TVs: Black Friday/Cyber Monday and late January (before the Super Bowl)

Furniture: February and August, as well as Black Friday, Memorial Day, and Labor Day

Large appliances: Labor Day through October

Small kitchen appliances: May

Mattresses: Holiday weekends, especially Memorial Day, Labor Day, and 4th of July

Vacuum cleaners: April

Tools: June

Outdoor furniture: August through October

Generally speaking, holiday weekends (as well as Black Friday and Cyber Monday) tend to be great times to find deals. If the item you’re looking for is seasonal—like patio furniture or holiday decorations—waiting until the end of that season usually pays off.

FIND ALTERNATIVE SHOPPING SOURCES

Can’t wait for a sale? It’s time to think outside of the box (the big-box stores, that is). There are plenty of surprising places to find great furniture and houseware deals .

Check out overstock and liquidation stores. These stores purchase items other retailers haven’t sold and offer them at a steep discount. The inventory can be hit or miss, but you can often get a great deal if you find what you’re looking for. 5

Try private membership/warehouse stores. Retailers like Costco and Sam’s Club often have great deals on home goods. If you’re not already a member, ask family or friends if they are willing to take you to look around before you commit .

Consider open-box items. When buyers return items like furniture or electronics, retailers can’t always sell them as new, even if they haven’t truly been used. Look online for open-box deals from retailers like Wayfair and Amazon Warehouse or visit local retailers to see what they have in stock.

Give scratch-and-dent appliances a chance. These appliances are brand new but sold at deep discounts because their external packaging was damaged. Typically, this means that flaws are purely cosmetic—but it’s always possible that the merchandise has suffered more serious damage. So, be sure to check out the appliances carefully and ask about included warranties. 6

Expand your window treatment search. Window treatments can be surprisingly expensive, but it’s often possible to save by buying off-the-shelf offerings in standard sizes. If you need a custom size or material, consider ordering online from a discount supplier and installing them yourself.

Shop secondhand. In addition to thrift stores and garage sales, Facebook Marketplace, NextDoor, and Craigslist are all great places to find deals in your area.

Are alternative shopping sources still a stretch for your budget? Check out local Freecycle or “Buy Nothing” groups, which are often hosted on Facebook. Participants offer big and small items they no longer need—everything from furniture to clothing hangers—for free to other members. 7,8

DON’T BE AFRAID TO NEGOTIATE FOR A BETTER DEAL

Many people don’t realize that prices for home goods, from furniture to appliances, are often negotiable. While asking for a discount can be intimidating, it’s common practice in many industries, although more so at independently-owned stores than chains. Here are a few tips: 9,10

Comparison shop before you walk into a store. If you can find a lower price for the same item elsewhere, many retailers will match it.

Ask the store associate or manager for the best price available. They may be able to offer additional discounts or coupons.

If you can pay in cash, ask if you can get a discount for doing so. The seller may be happy to offer a small price reduction to avoid paying processor fees.

Call ahead to ask about applicable discounts. Some retailers offer price reductions for active military, veterans, teachers, first responders, or senior citizens on certain days or times of the year.

Point out scratches or dings to the sales associate. They may be willing to offer a discount to compensate for the imperfection.

Ask about floor models. Many stores offer these pieces at a lower price, even if they’re in like-new condition.

After you’ve negotiated a killer deal, don’t forget to ask for free or discounted delivery! Sometimes furniture and appliance stores will offer complimentary delivery or installation if you spend a certain amount or purchase multiple items.

MAKE THE MOST OF REWARD PROGRAMS AND COUPONS

Every penny counts when you’re on a budget—and spending a little extra time maximizing reward programs and discounts is usually worthwhile.

Sign up for a change of address kit with the United States Postal Service . You’ll need to do anyways to forward mail to your new address, and it comes packed with valuable coupons. 11

Make sure you never miss a sale. Sign up for your favorite retailers’ email lists and follow them on social media for discounts and sale alerts.

Take advantage of loyalty programs. If you’re making a big purchase or getting multiple items from one store, ask about free loyalty programs. Signing up often comes with an introductory coupon.

Consider store credit cards (carefully). Store credit cards can offer significant discounts—but only charge items you can pay off right away to avoid interest, and never open new lines of credit until your home purchase is complete, since it can affect your credit score.

Enroll in coupon and cashback programs. When you’re shopping online, programs like Rakuten and Honey can help you find coupon codes and give you cash back on purchases.

While you’re at it, why not set up a housewarming registry? 12 You can share the link with family and friends if they ask what you need—and you can also use it to score discounts. Many stores offer a percentage off to help you buy unpurchased items on your registry.

GET CREATIVE

If you want to avoid a cookie-cutter home aesthetic—and save a few bucks—try reimagining your existing furniture and how it could fit into your new space. Here are a few of our favorite strategies.

Repurpose what you have. Instead of buying a new item to fit a specific purpose, ask yourself if you can use what you have in a different way. For example, repurpose an old dresser as a television stand or use a mismatched dining chair in your home office.

Upgrade existing items. Sometimes, a new coat of paint or varnish, or simply swapping out drawer pulls and handles, can lend a new lease on life to an old piece of furniture. You can also keep this strategy in mind if you see second-hand items that would be just right if they were a different color or had nicer fixtures.

Reupholster instead of buying new. If you have a tired-looking sofa or chair that’s still comfortable and stable, think about getting it reupholstered in new fabric instead of replacing it.

Get handy. Building furniture is certainly not for everyone, but with some basic tools and help from the internet, you may find that simple items like headboards are well within your grasp. You might also be able to repair pieces you already have and avoid shopping altogether.

Do-it-yourself projects can be fun, but they aren’t for everyone. If you’d like some professional help, reach out for a list of our recommended service providers.

WE’RE HERE TO HELP

We know budgeting for a new home can be overwhelming, and we want to make the process easier for you. If you’re considering a home purchase, we can advise you on a realistic budget and help you review your options. We can also offer insights on other financial considerations and programs and incentives that can help make homeownership more attainable. Reach out for a free consultation.

Sources:

Bankrate -

https://www.bankrate.com/mortgages/avoid-mortgage-closing-missteps/

Furniture Bank -

https://www.furniturebank.org/how-much-does-it-cost-to-furnish-an-apartment/

US News -

https://money.usnews.com/money/personal-finance/saving-and-budgeting/articles/the-best-time-of-year-to-buy-everything

NerdWallet -

https://www.nerdwallet.com/article/finance/what-to-buy-every-month

Business Insider -

https://www.businessinsider.com/personal-finance/strategies-to-save-money-on-furniture-for-my-new-home?r=US&IR=T

CNET -

https://www.cnet.com/home/kitchen-and-household/buy-scratch-and-dent-appliances/

Real Simple -

https://www.realsimple.com/home-organizing/green-living/buy-nothing-groups

Freecycle -

https://www.freecycle.org/

Consumer Reports -

https://www.consumerreports.org/cro/magazine/2013/08/how-to-bargain/index.htm

Realtor.com -

https://www.realtor.com/advice/home-improvement/furniture-stores-money-saving-tricks/

The Krazy Coupon Lady -

https://thekrazycouponlady.com/tips/money/usps-moving-coupons

Taste of Home -

https://www.tasteofhome.com/article/housewarming-registry/

7 Common Homebuyer Regrets (And How To Avoid Them)

Mon, 07 Aug 2023 16:15:10 GMT

To avoid buyer's remorse, be sure to consider your future self when shopping for a home.

Most new homebuyers don't regret becoming homeowners. In fact, according to a survey by LendingTree, 80% of recent buyers who successfully overcame a challenging housing market say they're glad they found their current homes.1 But that doesn't mean newly-minted homeowners don't have any regrets about their buying choices.

On the contrary, research shows that even the most-satisfied homeowners w ould change some aspects of their home purchase if given the opportunity. According to a recent survey by Anytime Estimate, nearly 3 out of 4 buyers who purchased a home in 2021 or 2022 still have a few regrets.2

Some question their decision to move to a neighborhood they still don't love. Others wish they had been less picky about where they lived so they could have paid less. Many are afraid they overspent or think they sacrificed too much in their rush to buy a home.

Here are some of the most common homebuyer regrets we see, along with our professional advice on how to avoid them.

REGRET #1: Spending More Than Necessary

No one wants to overpay for their new home purchase (and, luckily, with the right guidance, doing so is avoidable). But even if you've secured a winning purchase price, there are still plenty of ways to accidentally overspend.

One of the most common ways to overpay? Choose the wrong mortgage. In fact, in today's higher-rate environment, this can be one of the riskiest mistakes a new buyer can make.

According to a recent survey, for example, nearly three-quarters of homebuyers leave money on the table by not bothering to shop around for the best rate.3 And research by LendingTree suggests that buyers in major metro areas lose an average of $63,151 over the life of their loan just by picking the first mortgage they're offered.4

Lesson Learned: As long as you stick to what you can afford, buying a home can be a boon for your financial health. The longer you live in it, for example, the more your home is likely to appreciate in value and boost your long-term savings.

But to get the most value from your purchase, it's worth your time to compare financing options and shop around for the best deal. We also recommend getting a mortgage pre-approval before you start your home search so you know what's within reach. We can refer you to one of our trusted lending partners for help.

REGRET #2: Rushing Into a Home Purchase

In a competitive housing market, it's often necessary to act fast to secure a home. But don't let a need for speed tempt you into making an offer before you've thought through or fully vetted a new property.

Rushing into a home purchase isn’t just risky, it's also one of the most commonly cited sources of homebuyer regret. According to Anytime Estimate, for example, more than 1 in 4 homebuyers felt remorse over how quickly they sped through the home buying process.2

Getting swept away by your emotions can also lead to buyer's remorse. If you've found a home you love and are competing with other buyers, it can be tempting to overlook key details or bid more than you can afford. That's one reason it helps to have a skilled professional by your side to calmly guide you through the process and ensure you act with reason, rather than emotion.

Lesson Learned: Buying a home is exciting. But if you don't keep your emotions in check or act too impulsively, you could make poor choices in the moment that are hard to undo later.

To avoid making last-minute decisions that could backfire, know what you want, what you need, and what you can afford before you start your home search. We can help you set priorities so you’ll be able to move forward with confidence when the time is right.

REGRET #3: Miscalculating the Costs of Homeownership

Though real estate is a great long-term investment, it can be pricey in the short-term, often surprising homeowners who aren't prepared for it. According to some estimates, for example, annual maintenance could cost as much as 1% or more of your home's purchase price.5 Some buyers also forget to factor in additional ownership expenses, such as property taxes, insurance, and repairs.

Failing to think through the costs of homeownership is one of the most common sources of homebuyer regret. According to Anytime Estimate, for example, nearly half of the homebuyers who regret their purchase said they underestimated how much they would spend to live in it.2

However, some homes cost more to live in and maintain than others. So even if you're certain that you can afford the average cost of homeownership, that doesn't necessarily mean that every home in your price range will fit neatly into your budget. For example, very old homes with unique maintenance requirements could be extra pricey to keep up. Similarly, homes with high HOA or condo fees could also eat into your monthly budget.

Lesson Learned: A home should help you build your wealth, not drain it. So it's important to factor in all the potential costs of living in a home—not just obvious ones like your mortgage payment and taxes. To ensure you don't get overextended, add up your estimated maintenance and repair costs, as well as any miscellaneous expenses that are unique to a particular home.

We can help you with these estimates—and, if needed, present you with some less-costly alternatives.

REGRET #4: Underestimating the Time Required To Maintain or Renovate a Home

One of the most joyful aspects of homeownership is getting to relax in a home that's all your own. But if a home is too high maintenance, then you may not have time to savor it.

Many homeowners love to spend their weekends puttering in their gardens or undertaking home improvement projects. But if that's not you, then you may not like living in a home with a big yard or with high-maintenance features, like a pool.

According to a survey by Hippo, for example, 47% of homeowners who feel some regret about their home purchase complain that too much maintenance and upkeep is required.6

Similarly, buyers who purchase fixer-uppers are often surprised by how much time it takes to rehab their new homes. Although buying a fixer-upper is a great way to save on the purchase price, you could come to resent it if it eats up all your free time.

Lesson Learned: Renovation and maintenance projects are often time-consuming and stressful. So beware of committing to a property that requires too much of your attention if you don't have the time or patience for it. With that said, home improvement projects can also bring a lot of joy and satisfaction to owners who like rolling up their sleeves.

We can talk through the realities of homeownership with you and help you choose a property that will fit your personality and schedule.

REGRET #5: Ignoring or Skipping a Home Inspection

It’s easy to get swept up in the excitement of buying a home. Sometimes, buyers will agree to skip a home inspection to sweeten their offer in a competitive market. They may also be tempted to pinch pennies since they’re already facing a large outlay. However, if you skip out on a home inspection, you could come to regret it.

When you hire a home inspector, you get a professional, in-depth examination of the property’s structures and systems before you buy it. It’s a worthwhile investment that can save you money in the long run, either by warning you away from a bad purchase or by providing a list of deficiencies you can use to negotiate with the sellers.

But even the most thorough home inspection isn't going to be worth much if you don't take the time to carefully consider it. If at all possible, make sure you’re on-site during the inspection so you can observe and ask questions. And don’t forget to re-evaluate any repairs that the seller agrees to make to ensure they’ve been properly completed prior to closing.

Lesson Learned: A home inspection can reduce your risk and save you money in the long run. But to maximize its effectiveness, you will need to be an active participant in the process.

We’d be happy to share a list of experienced and trustworthy home inspectors in our area. And when the inspection report is complete, we can help you decide if the purchase is worthwhile and negotiate any relevant seller concessions and repairs.

REGRET #6: Choosing a Home That Doesn't Fit

Homeownership is often a better investment if you’re willing to stay put for at least five years.7 But if your newly purchased home isn’t a good fit, then you may not want to stick around that long.

Many homeowner complaints come down to simple lifestyle issues: Although a mismatch may seem small at first, the problems can magnify if you make so many compromises that they interfere with your quality of life.

Or, sometimes homebuyers can fall in love with a beautiful home and forget about practicalities. For example, a stunning kitchen can’t replace a needed bedroom or bathroom. And a sparkling pool may sit empty if the home requires a lengthy commute to your office.

Make sure you set some guardrails during your home purchase so you don’t over-compromise or accidentally prioritize your wants over your needs.

Lesson Learned: When you’re dealing with limited inventory or a fixed budget, it may be necessary to sacrifice some items on your home wish list. But if you fail to secure your must-haves, you could come to regret your home choice.

We can help you avoid an ill-fitting home purchase by working with you to set (and stick to) priorities and parameters before you begin your search.

REGRET #7: Purchasing Without Professional Help

Another path to homebuyer regret? Foregoing the expert guidance and market insight that you can only get from a licensed real estate agent.

Buying a home without professional representation can be extremely risky. Therefore, it’s no surprise that 86% of buyers enlist the help of an agent when purchasing a home. And the vast majority find their assistance to be invaluable: 89% say they would use their agent again or recommend them to others.8

Real estate is hyperlocal and extremely fluid—especially these days when the market is in constant flux. So it pays to have a knowledgeable expert by your side who can guide you through an often-complicated process.

We can help you avoid expensive mistakes that could lead to buyer’s remorse, all while making your home purchase as seamless and stress-free as possible. And since the home seller typically pays our commission, there’s no added expense for you!

Lesson Learned: When you work with a real estate agent, you benefit from a wealth of expertise and on-the-ground insight that you can't get anywhere else. We’ll help you steer clear of the missteps that so many homebuyers make, so you can focus on enjoying your new home instead of questioning your choices down the road.

The best part? Since the majority of home sellers pay us a commission at closing, in most cases, we offer our invaluable guidance and assistance at no additional cost to you!

BOTTOMLINE

No one wants to look back on their home purchase and realize they made a big mistake. We can help you avoid the pitfalls so you can buy with confidence. To learn more about how we work to ensure our clients’ satisfaction, reach out today to schedule a free consultation.

The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

LendingTree -

https://www.lendingtree.com/home/mortgage/homebuying-process-survey/

Anytime Estimate -

https://anytimeestimate.com/research/american-home-buyers-2022/

Zillow Home Loans -

https://zillow.mediaroom.com/2022-11-18-Prospective-home-buyers-spend-about-as-much-time-researching-new-TVs-as-they-do-mortgage-lenders

LendingTree -

https://www.lendingtree.com/home/mortgage/mortgage-shopping-study/

CNBC -

https://www.cnbc.com/2022/05/01/survey-majority-of-homeowners-have-regrets.html

Hippo -

https://www.hippo.com/blog/2022-hippo-housepower-report-how-homeowners-are-responding-essential-maintenance-during

Realtor.com -

https://www.realtor.com/advice/sell/how-soon-can-you-sell-a-house-after-buying/

National Association of Realtors -

https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers#homebuyers

Renovate or Relocate? 3 Questions To Help You Decide

Fri, 07 Jul 2023 16:41:13 GMT

Does your current home no longer serve your needs?

If so, you may be torn between relocating to a new home or renovating your existing one. This can be a difficult choice, and there’s a lot to consider—including potential costs, long-term financial implications, and quality of life.

A major remodel can be a major commitment. From hiring contractors to selecting materials to managing a budget, it can take a tremendous amount of time and energy—not to mention the ordeal of living through construction or relocating to a temporary residence.

On the other hand, moving is notoriously taxing. In fact, in one survey, 40% of respondents viewed buying a new home as ”the most stressful event in modern life.”1

So which is the better option for you? Let’s take a closer look at some of the factors you should consider before you decide.

What Are Your Motivations for Making a Change?

It’s possible that some of the limitations of your current home can be addressed with a renovation, but others may require a move.

Renovate

Certain issues, like dated kitchens and bathrooms, are fairly easy to remedy with a remodel—and the results can be dramatic. In many cases, a relatively minor renovation can significantly increase your enjoyment of your home.

Other shortcomings can be more challenging to fix but are worth exploring so that you know your options. For example, if your home feels cramped or it lacks certain rooms, you might be able to make changes like installing an extra bathroom, adding a dedicated office, or finishing an attic or basement. You may even be able to build an accessory dwelling unit or extension to accommodate a multi-generational family.

In fact, many Americans have remodelled their homes to meet changing needs since the start of the pandemic. According to the National Association of the Remodelling Industry, 90% of their members reported increased demand for renovations starting in 2020, and 60% reported that the scale of remodelling projects has grown.2

However, the feasibility and cost of these larger changes will depend on factors ranging from zoning and permitting to your home’s current layout. Speaking with an architect or a contractor can help you make an informed decision. Let us refer you to one of our trusted partners to ensure you receive the best possible service.

Relocate

Of course, sometimes, even rebuilding your home from the ground up wouldn’t solve the problem. For example, moving may be the only solution if you’ve switched jobs and now face a lengthy commute or if you need to live closer to an aging family member.

Conversely, if the shift to remote work has opened up your location options, you may wish to seize the opportunity to relocate to a new locale. A 2022 study found that nearly five million Americans had already moved since the start of the COVID-19 pandemic due to increased flexibility from remote work, and nearly 19 million more were planning to move in the near future for the same reasons.3

Moving may also be the best option, even when you’re happy with your geographic location. A local move may make sense if you’re looking for a larger backyard or significantly more space. Similarly, some frustrations—like living on a busy street or a long way from a grocery store—can’t be addressed with a renovation. We are well-versed in this area and can help you determine whether another neighborhood might suit you and your family better.

Which Option Makes the Most Financial Sense?

Renovating and relocating both come with costs, and it’s wise to explore the financial implications of each choice before you move forward.

Renovate

The costs of a renovation can vary widely, so it’s vital to get several estimates from contractors upfront to understand what it might take to achieve your dream home.

Be sure to consider all of the potential expenditures, from materials and permits to updates to your electrical and plumbing systems. It’s also prudent to add 10-20% to your total budget to account for unexpected issues.4 If you plan to DIY all or part of your renovation, don’t forget to factor in the value of your time.

Renovations can also come with hidden expenses. These might include:

1. Additional home insurance

2. Short-term rental or hotel if you need to move out during the renovation

3. Storage unit for possessions that need to be out of the way

4. Dining out, laundry service, and other essentials if you can’t access appliances at home

Remodeling choices can also impact the long-term value of your home. Some projects may increase your home’s value enough to outweigh your investment, while others could actually hurt your home’s resale potential.

For example, although you may enjoy the additional living space, garage conversions aren’t typically popular with buyers.5 Refinishing hardwood floors, on the other hand, brings an average return of 147% at resale.2 The specific impact of a renovation will depend on a number of factors, including the quality of work, choice of materials, and buyer preferences in your area. We can help you assess how a planned project is likely to affect the value of your home.

Relocate

The cost of a new home, of course, will vary significantly depending on the features you’re seeking. However, you may find that it’s cheaper to move to a home that has everything you want than it is to make major changes to your existing one.

For example, adding a downstairs bedroom suite or opening up a closed floor plan could cost you more than it would to buy a home that already has those features. On the other hand, simpler changes and updates probably won’t outweigh the expense of a relocation.

If you’re considering a move, speak with a real estate agent early in the process. We can assess your current home’s value and estimate the price of a new home that meets your needs. This will help you set an appropriate budget and expectations.

It’s important to remember that the cost of buying a new home doesn't end with the purchase price. You’ll also need to account for additional expenditures, including closing and moving costs and the fees involved with selling your current home. And don’t forget to compare current mortgage rates to your existing one to understand how a different rate could impact your monthly payment.

However, keep in mind that the interest rate on a mortgage is typically lower than the rate on other loan types—so you could pay less interest on a new home purchase than you would on remodel.6 We’re happy to refer you to a lending professional who can help you explore your financing options.

Which Option Will Be the Least Disruptive to Your Life?

A final—but critical—consideration is the time and hassle involved with each option since both renovating and relocating involve a significant amount of each.

Renovate

Don’t underestimate the time and effort involved in a large-scale renovation, even if you choose to hire a general contractor. You will still need to consider and make a number of decisions. For example, even a fairly basic kitchen remodel can involve a seemingly-endless selection of cabinets, tile, countertops, paint colors, fixtures, hardware, and appliances.

And don’t assume that you will get out of packing and unpacking if you stay in your current home. Most renovations—from kitchens to bathrooms to flooring replacement—require you to remove your belongings during the construction process.

The time frame for a remodel is another consideration. High demand for contractors and ongoing material shortages can mean a long wait to get started. And once the project is in progress, you can expect that it will take a couple of weeks to several months to complete.7

Contemplate whether you will be able to live in your home while it’s being renovated and how that would impact your routine. For example, being without a functional kitchen for months can be frustrating, inconvenient, and expensive (since you’ll need to purchase prepared food). Remember that delays are inevitable with construction, and consider what additional challenges they could present.

Relocate

Of course, finding a new home and selling your current one also takes a significant amount of time and energy. According to the National Association of Realtors’ 2022 Profile of Home Buyers and Sellers, the average buyer searched for 10 weeks and toured a median of five homes.8

However, in many cases, the timeline can still be shorter than a major renovation. Once you find a home that works for you, it typically takes between 30 and 60 days to close if you’re taking on a mortgage—and the process is even faster if you’re paying with cash.9 Plus, you can look for your dream home without the inconvenience of living in a construction zone.

However, a move comes with its own stress and disruptions. If you’re selling your current home, you’ll need to prep it for the market and keep it ready and available for showings. Once you’ve found a place, the packing and moving process takes time and work, as does settling into a new home—especially if it’s in a different neighbourhood.

Fortunately, we are here to help make the moving process as easy as possible, if you choose to pursue that route. We can help you find a property that meets all your needs, sell your current one for top dollar, and refer you to some excellent moving companies that can help pack and transport your belongings.

WHATEVER YOU DECIDE, WE CAN HELP

The decision to renovate or relocate can be overwhelming—but this choice also presents a powerful opportunity to improve your quality of life.

There’s a lot to consider, from how renovations could impact your home’s resale value down the road to your neighbourhood's current market dynamics. We’re happy to help you think through your options. Get in touch for a free consultation!

The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

HousingWire -

https://www.housingwire.com/articles/46384-americans-say-buying-a-home-is-most-stressful-event-in-modern-life/

National Association of the Remodeling Industry -

https://cdn.nar.realtor//sites/default/files/documents/2022-remodeling-impact-report-04-19-2022.pdf?_gl=13pfs0m_gcl_au*NTU2MDQ0MzAyLjE2ODMyMzgzMTY

Business Insider -

https://www.businessinsider.com/5-million-people-moved-because-of-remote-work-since-2020-2022-3

Forbes -

https://www.forbes.com/home-improvement/contractor/home-renovation-costs/

U.S. News & World Report -

https://realestate.usnews.com/real-estate/articles/10-home-renovations-that-can-decrease-the-value-of-your-home

Bankrate -

https://www.bankrate.com/mortgages/mortgage-vs-home-equity-loan/#differences

House Beautiful -

https://www.housebeautiful.com/home-remodeling/a25588459/home-renovation-timeline/

National Association of Realtors -

https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers

Forbes -

https://www.forbes.com/advisor/mortgages/how-long-does-it-take-to-close-on-a-house/

Home Buying For Millenials

Fri, 06 May 2022 15:38:33 GMT

Starting the home buying process can be intimidating, especially if you’re used to renting. How do you know where to begin? As a millennial, our generation has in many ways been stereotyped as not being able to save and afford their lifestyles. But that’s far from the truth! Financially savvy individuals and people who know the importance of investment exist in any generation, and I’m here to show you how you can make the most of your home investment. After all, according to the National Association of Realtors , home buyers age 37 and younger makeup 36% of all buyers! Which continues to be the largest generational group of buyers. This goes to show you that home buying for millennials is more attainable than you were lead to believe.

Use What is Right in Front of You

Let’s go over a few advantages millennials have in the home buying process. First, searching for homes is easier than it has ever been. With online directories through real estate websites like this one or services such as Trulia, Zillow and Real Scout, you can filter down to specifics such as neighborhood, square footage, age of the house and more. You can even get notifications sent to your email or phone about homes that match your criteria. Even though we millennials grew up with technology at our fingertips, we understand the importance of face to face meetings with those with the knowledge and information that we crave. Homebuying is no exception to that.

For starters, meeting with a realtor to go over your wants/needs is essential to ensuring your journey is successful. A bit about me, one of my biggest reasons for getting into real estate was to use my service-oriented personality to help others. Prior to beginning my real estate journey, I spent many years working with youth and seniors in various different capacities. The common theme in all of those roles was putting my client’s needs first. Putting client’s needs first is an important factor when determining who you should select as your real estate professional . I say that to show the importance of making sure that the agent you decide to work with has a client first mentality. Your needs are important, and you need to be working with someone who understands that.

Another great advantage is social networking. You could find out someone you are already connected with is either in real estate (like myself!). You could also ask for a recommendation from someone you trust. Don’t disregard the value of acquaintances. Relatives and friends who have purchased a house can be a huge source of inspiration. Seeing people that you know buying homes can help show you that it can be within reach for you.

You Can Do It

Moral of the story here is don’t buy into the predisposed notion that home buying is unattainable. All of the work millennial’s have done to get out from under their parent’s roof and establish themselves in the real world does not have to go unrewarded. Invest in a home, and you’ll invest in your future. And hey, in many cases it can be cheaper to buy than rent. And to those Millennials like myself who have a large amount of student loan debt, it is still possible to get a mortgage! Call me today to help get you on the path to home ownership. I want to make home buying for millennials happen even more frequently!

Homeowners Insurance Do's & Don'ts

Fri, 06 May 2022 15:29:57 GMT

You have found the perfect house that you have been looking for. Your offer got accepted, the inspection went good. Now you are only a few days away from closing on that house. Not so fast. You forgot about one of the most important steps in the process, homeowners insurance ! Buying a house will probably be the most expense purchase you will ever make. Better make sure you have the right homeowners insurance to protect it.

Looking into the cost of adding a homeowners insurance policy into your budget in the near future? Here are some helpful Homeowners Insurance do’s and don’ts to assist you with the process.

DO shop around

Your car insurance company may offer a discounted rate if you bundle a homeowner’s policy in with it. Many major companies like GEICO and Allstate offer comparable rates for packages. It’s also a good idea to check with your bank, as being an existing customer has its benefits. Online resources such as Progressive’s search comparison tool can assist you with getting a ballpark figure of what you’ll be paying, so don’t be afraid to research. Many local real estate brokers have their own insurance. For example, Howard Hanna offers insurance through Howard Hanna Insurance Services . Don’t just go for the name you heard of. Make sure the company not only has a good price, but a track record of providing good service. Also, ask your real estate agent for advice or recommendations.

DON’T just sign a contract

You’re investing in a home, so any protection you have on that property is important. Make sure you understand policy premiums, included coverages, optional coverages and your deductible. The last thing you need is to drop big money on a new home in a flood warning area, and then find out your insurance doesn’t cover water damage! Insurance polices can become very complex and complicated very quickly. Do not be afraid to ask questions! If there is something you don’t understand make sure they are able to help you get a better understanding.

DO speak with an insurance representative

Many large insurance companies have private representatives, and it’s also good to consider local businesses as well. You can meet with an individual in person to be 100% sure you’re getting the service you’re expecting. This can also be helpful if you’re new to insurance policies, as they can quickly explain your policy documents to you. They’ll also work with your mortgage representatives and realtors to help you in the home buying process, too. We know that filling out info on a website is way more convenient than talking. However, it is important to have that human interaction when it comes to shopping for the right insurance for you.

DON’T wait until the last minute to set up a policy

Insurance companies have processing times and steps that must be followed. If you are getting a bank mortgage, it is REQUIRED that you have a policy in place prior to closing. Waiting too long to get your insurance situation in order can delay your closing. Be proactive, a good agent will help keep you on track. Lastly, It’s important to make sure your coverage starts the day of your closing when you legally own your new home.

Thanks for checking out this blog on Homeowners Insurance Do’s & Don’ts. If this blog was helpful and beneficial to you, be sure to share it with some friends. As always, please leave a comment and let me know what you think. Also, comment if you have any questions. Be sure to follow me on Instagram , and Facebook . If you have any questions, or are ready to begin your path to homeownership please click here . Please share, and thank you for reading .

Pre-Qualification Or Pre-Approval?

Fri, 06 May 2022 15:25:53 GMT

Pre-qualification or pre-approval? Pre-approval or pre-qualification? What’s the difference?

Pre-qualification or pre-approval? You hear some people tell you that you have to go get yourself pre-qualified. While others are saying that you have to get pre-approved. In this blog, I am going to explain to you what these two terms mean. Along the way, you will begin to see how they differ as well. If you recall, the first blog post that I wrote was called, “I’m a First Time Home Buyer, Where Do I Start?” . One of the steps in that post involved getting your mortgage situation taken care of prior to seeing houses. (If you have not read that blog post , I recommend doing so first). Now we will dive into what that really means. Let’s get this show on the road!

Say you call an agent such as myself , and you ask to see ahttps://mmbrealtygroup.com/property-search/e. One of the first questions I am going to ask is, “Have you spoken to anybody yet about getting a mortgage.” This step is important because we need to know the budget that you have to work with.

What is a Pre-Qualification?

A pre-qualification is when the potential buyer VERBALLY provides the required information to a mortgage professional to determine eligibility. They can determine a buyer’s eligibility without verifying the information given. It is in everybody’s best interest for the buyer to provide accurate information. Inaccurate information will lead to an inaccurate pre-qualification.

Pre-Qualification or Pre-Approval? What’s The Difference?

The major difference between the two is the process by which the information is given to the mortgage professional. The pre-qualification is a quicker process because it does not involve the verification process. However, the pre-approval route is the stronger of the two because of the verification and underwriting aspect.

Both options do have similarities as well. Both include:

A purchase price, a loan amount, the type of loan (conventional, VA, FHA, etc), loan term, and the percentage of down payment
The expiration date of the document
The names of the borrower(s)
The contact information for the bank, and the mortgage rep which includes their NMLS ID#

So Which One Do I Choose?

Back to the original question, pre-qualification or pre-approval? For a number of reasons I always recommend my clients to go straight for the pre-approval letter. It is a vetted process, so you know exactly what you have to work with from a budget standpoint. More importantly this process will uncover any issues if there are any, and gives you time to correct them prior to being in a contract situation. For example, say you found the perfect house for you, and you submit your pre-qualification letter along with your contract offer. Your offer gets accepted and you are beyond thrilled. You go to apply for your mortgage, only to find out that you do not qualify for a mortgage due to an issue that would have been discovered during the pre-approval process. A pre-approval letter also makes your contract offer stronger, because it shows the seller that you have been vetted and are serious about buying.

Banks are not all the same. Make sure that you do your research to make sure that the bank is reputable. I recommend having at least to pre-approvals so you can compare and see which one is best for your situation.

I hope that this blog has been helpful to you. If you like what you read then leave a comment. If you have any questions, or are ready to begin your path to homeownership please click here . Please share, and thank you for reading.

I’m a First Time Home Buyer, Where Do I Start?

Fri, 06 May 2022 15:19:16 GMT

Tips For The First Time Home Buyer

Close your eyes and picture the home of your dreams ; the large kitchen with all of the granite countertops you’ll ever need, and the island you’ve always wanted. How about that huge master bedroom with the walk in closet! The one that can hold more clothes than you can ever own. Or, maybe it is the backyard with the deck and pool that you always wished you had growing up. Whatever your dream home looks like, the thought of you owning it brings so much happiness and comfort. You know what you want, but as a First Time Home Buyer , you don’t know where to start. Now that dream home that was once so clear in your mind, feels farther away than ever. Fear not! These tips for First Time Home Buyers will help get you started.

Whether you are looking in Buffalo, Cheektowaga, Williamsville, Amherst, Depew, Tonawanda, Kenmore, or any other area in WNY . This list will help give you some valuable insight into the home buying process. This list of First Time Home Buyer tips is not the end all be all. However, it will help you move one step towards owning your first home. *** NOTE*** this list is not in any particular order.

Save, Save, Save

Even if you have never been good at saving, now is a good time to change that! There is no way around it, you need money saved up in order to buy a house. You have to pay your down-payment, deposit, closing costs, and inspections fees, and before you know, it these costs add up to thousands of dollars! So in order to prep for this, you need to make sure that you begin putting money aside and leaving it there . Another tip is not using every dollar that you own to buy a house. You need to keep a rainy day fund for unexpected costs or what I like to call it, “life” . Even if you don’t plan on buying a house in the near future, you want to start getting in the habit of saving.

What Is This Credit Score That You Speak Of?

Yes, we all have a credit score and some are better than others. Your credit score plays an important role in the home buying process, especially for the First Time Home Buyer. Mortgage loan eligibility and interest rate is greatly affected by your credit score. Different banks have different credit scores that they are willing to work with. Many banks want a 620 or higher, and there are some banks that will accept a 580 or higher. However, you want to strive to get your score as high as possible. Take a few minutes and go to www.creditkarma.com to get a free copy of your credit score and report so you know where you currently stand. I recommend checking your credit report for errors (incorrect balances, payments that show as missed payments, etc.) as well because it is not uncommon for mistakes to happen.

Get Your Budget In Order

You may find that you can afford a $300,000 house, but does that fit into your actual budget? List all of your current bills and expenses to see what is leftover. This will help you to determine how much money you can comfortably afford for a mortgage each month. Being house broke is the last thing we want to see for a First Time Home Buyer.

Loan First, House Later

One of the biggest mistakes that First Time Home Buyers make is they find a house that they absolutely love, THEN they go and get pre-approved for a mortgage. By time this is done, the home that they fell in love with is already sold. I highly recommend that you at least get pre-qualified, if not pre-approved prior to looking for houses ( blog post about pre-qualified vs. pre-approved found here ). The Buffalo market is competitive and houses are selling quickly . It is extremely important that you have your mortgage loan situation in place prior to looking at houses. Banks have different interest rates, so I suggest shopping around to see who can offer you the best rate. To help speed up your pre-approval process, get your documents in order ahead of time. The mortgage reps will need pay stubs, bank statements, W-2’s, and tax returns. Get a head start by getting those documents put to the side. Just a reminder, you will need money for your loan so remember to SAVE, and leave it there .

Finding an Agent You Can Trust

In my humble, yet slightly biased opinion, this is probably the most important step of them all . The right agent will be able to help you with all of the steps above and then some. As a First Time Home Buyer, this will probably be the most expensive purchase you have made in your life! You need an agent that you can trust , and that you feel comfortable working with. Your agent should specialize in the area that you want to live. They should also have a great deal of knowledge in all aspects of the home buying process. Your real estate agent should work for a reputable company, with a good track record of success. As First Time Home Buyers you want an agent who can walk you through the entire home buying process. You want an agent who can help prepare you for potential stumbling blocks that may come up. Buying a house is a roller coaster ride . A good agent like myself will be there with you throughout the entire journey.

I hope these tips helped you get a start towards becoming a First Time Home Buyer in the Buffalo area. The process may seem scary, but don’t let that fear stop you from getting started. Finding a good agent with a good team is half of the battle . Once you find your team, then the rest of the process becomes a bit easier.

My blogs are designed to be interactive, so please leave a comment so we can get the conversation started! If you have any questions, or are ready to begin your path to homeownership please click here .