Home Buyers Guide – FLORIDA REAL ESTATE WIZARDS

Start here:

Whether you have made the decision to purchase your first home or you are elevating your lifestyle to the luxury home you have always dreamt of, we agree with your decision. Here’s why: Home ownership is the best step in quantum leaping your lifestyle and your net worth. So what is quantum leaping? It’s taking a dream and making it reality by taking the quickest possible path. Owning your home catapults you light years past someone that rents. Statistics show that at retirement age, the net worth of someone that owns their home vs. someone that rents is 40 times. In other words, the renter’s net worth at retirement is in the $10,000 range. The home owners is in the $400,000 range. Why? It’s the power of leveraging your investment. The US gives very favorable lending programs to help you own your home. Some of these programs are:

FIRST TIME HOME BUYERS DOWN PAYMENT ASSISTANCE

Home town homes for Heroes-Down payment assistance for first time home buyers that qualify as a military active service/vet, teacher, medical professional, or First responder.
FHA and USDA minimum Down Payment assistance-0-3.5% down payment
Conventional loan programs that start at 5-20% down payment

OWNING YOUR HOME IS A GREAT SAVINGS PLAN

Every month when you pay your rent, it builds your landlord’s equity and net worth. When you own your home, that mortgage payment adds to your net worth.

THE AWESOME POWER OF LEVERAGING YOUR MONEY!

Home values over time have appreciated at approximately 3%. So while you won’t get rich tomorrow, year by year that down payment allows you to maximize your return.

Here Is a clear example of the quantum leaping power of leverage when buying your home.

Pay cash for a $500,000 home

It appreciates at an average of 3% per year

By your second year of home owner ship the homes value is

$515,000

The second year:

$515,450 and so on.

Now let’s look at if you put 5% down and secured a loan for the balance of your home purchase:

$500,000 x .05= $25,000 Down Payment

By your second year your home appreciation Is still 3% but…

You only put $25,000 down and your value is now $515,000

Instead of 3% return on your cash, you made $15,000 on your $25,000 investment. That’s a 60% return on your cash.

*please note that this is a simplified version. There are many other benefits including tax breaks on depreciation and interest that make it even more interesting.

That’s just one reason we agree with you on purchasing your own home!

Go here is you want to explore other life changing reasons for owning your own home.

Step 1 Partner with a buyer’s agent that will look out for your best interest.

Why not just call on any of the listings on the net and go directly to the listing agent. We get his question all the time and it’s the same response: That’s your choice. You have no representation but if you want to take that chance, it’s like going to court and hoping the opposing lawyer will look out for you. (Critical clue: The opposing attorney or realtor never looks out for your interest! Their duty is to their client.)

Your home purchase is virtually the most important and expensive purchase you will make in your lifetime. You want to get it right the first time.

It’s no different than doing your own brain surgery or going to court without a lawyer to represent you.

Some decisions can be googled on the net and if you make the wrong purchase on a cheap watch online, well, so be it . You lost a few dollars. That’s not so with critical purchases and decisions. You want the best specialist in the field to be on your side and looking out for your best interests.

The second critical advantage a buyer’s agent gives you is the options and plan that you would never achieve on your own.

Our specialists are true specialists with over 15 years of experience with close to 1000 successful transactions. Our first session will uncover ideas, questions, and options that only someone with years of experience can offer you. The result is that you have a solid search and purchase plan that is unique to your specific situation and requirements.

That same experience proves invaluable all through the process, from knowing which homes to view or offer on, to knowing how to negotiate the offer and the steps that need to take place for a successful closing.

The compliment we hear most often from our clients. Thank God we had you on our side. We couldn’t have done this without you.

STEP 2 Get Pre Qualified by a loan specialist.

Now that you are motivated to begin your home search there is one critical step that will save you loads of heartache, heartbreak, and time. Get Pre Qualified so that you know how much home you can afford. The tendency is to start surfing the net for homes to view. Everyone does this with the same result. We all want the ultimate luxury home; the Lamborghini of homes. If you are wealthy enough that you don't have to worry about the price of your home purchase, that's great, however, the vast majority of home buyers fall within a certain budget. The only way to determine that accurately is to discuss your situation with a loan specialist. That doesn't mean doing the online pre qual process. That leaves too many gaps and false approvals that will cripple you at closing. Taking the time to understand your purchase power and understanding the pre approval process all the way to closing on your home allows you to move on to the home search process with confidence, while eliminating the heartbreak of falling in love with home only to find that you don't qualify.

Start the Pre Qualification process here

Step 3. Initiate Your Search and Destroy Mission!

We say this as a joke and it's also true. Your first pass at identifying homes to view and then actually driving the community really is a search and destroy mission. You may love a homes presentation online and in person it's a disaster. Likewise you may get a bad reaction to a community. There might be a water treatment plant next door that a listing agent didn't disclose. The list goes on and on. After your first pass, you then have an idea of what you are really seeking and it's much easier to drill down to a home and community that fits your requirements.

Step 4. Make an offer and complete inspections

There are hundreds of actions or steps in the march to closing and all are critical. One miss step can mean the heartbreak of a failed closing. The 3 highlights are:

Make an offer: Work with your agent to submit a competitive offer on the home you want.

Have a home inspection: Hire a professional to inspect the property for any issues before you finalize the purchase.
Get an appraisal: The lender will require an appraisal to ensure the home is worth the loan amount.

Step 5. Close the deal

Finalize your mortgage:

Work with your lender to complete the final loan application and underwriting process.
Do a final walk-through:

Visit the property one last time before closing to ensure everything is as expected.
Attend closing:

Sign all the necessary paperwork and pay your closing costs to officially become the homeowner.