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Articles Tagged "First-time Buyers"

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Beavercreek Ohio | 97 Posts
Bellbrook Ohio | 4 Posts
Buying a House | 54 Posts
Centerville OH | 2 Posts
Fairborn Ohio | 15 Posts
Greene County | 6 Posts
Home Improvement | 23 Posts
Homeowner Tips | 37 Posts
Housing Options | 1 Posts
Kettering Ohio | 5 Posts
Oakwood Ohio | 2 Posts
Relocating | 2 Posts
Riverside Ohio | 1 Posts
Selling a House | 44 Posts
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Xenia Ohio | 1 Posts
June
20

If you're a first-time buyer, it's easy to fall into some traps. Here's how you can achieve a smooth buying experience.

It's fun to dream about the kind of home you want to buy someday. Who doesn't like trawling through the real estate listings, making notes about those that match your idea of the ideal home, and wondering, could we afford this? That's fine as long as you're just entertaining yourself, but once you're serious about home ownership, this is not the first step to take. If you're really ready to take the plunge, put the shopping among Beavercreek homes for sale on hold and head over to your mortgage lender.

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June
13

Ready to jump into homeownership? You'll want to set aside some money first. Here's how much you'll need.

Buying a first home is a momentous occasion. But as you're probably aware, the buying process is not just about trawling through the real estate listings and scheduling tours of homes. Before you ever set foot in a home you might like to buy, you need to think about financing. That's right: It's the unglamorous but essential part of buying a home. In simple terms, how are you going to pay for it?

Far too many prospective home buyers march forth in Lalaland, convincing themselves that they'll slap down a minimal down payment and figure out the financials later down the line. Those who take this tack can be in for some unpleasant surprises. We strongly suggest you square away how you will pay for that house you love among Beavercreek homes for sale before you even start shopping.

Here's some valuable information on down payments, and more, compiled by our REALTORS®.

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December
14

House Closing Delays - Wright-Patt Realty

A fast and easy path to closing is the dream scenario for buyers and sellers alike. Our REALTORS® can help you avoid oversights that lead to delays when you're looking at Beavercreek homes for saleSometimes, though, transaction delays can occur through no fault of your own. A lot happens behind the scenes during the buying process, and wires can get crossed even when you do everything right.

When the unexpected strikes, there are often steps you can take to get things back on track. Other times, you may need to roll with the punches and assess how your plans are affected by an ambiguous situation. Whatever the case, your real estate agent is your strongest ally. Your agent's job is to be there for you every step of the way and advocate for your interests, so you can get the best deal on the home you want.

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June
15

House Hunting - Red Flags - Wright-Patt Realty

A new home is filled with potential. There's potential for a bright and financially rewarding future, but there's also potential to find yourself stuck in a money pit. When you are househunting in Beavercreek, there are five red flags that our REALTORS® tell prospective homebuyers to keep their eyes open for when looking for a home.

  1. A Glut of "For Sale" Signs in the Neighborhood
    If you see numerous homes for sale in the same neighborhood, it's often a sign that there are problems brewing. A new landfill could be under construction. Or, there could be any number of reasons that everyone is eager to move out of the neighborhood. A few homes for sale is a sign of a healthy community; too many homes is a sign that a community is dying, and it's best to stay away.

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December
30

Loan Pre-Approval Timing - Wright-Patt Realty

If you're getting ready to become a homeowner, you've probably already discovered that there are a lot of important steps along the way. Getting pre-approval for a home loan is one of the most important steps, and if you're thinking about buying a home in 2020, our REALTORS® are here to help. 

One of the most common questions we get asked is, "When should I get pre-approved?" There are a few factors to consider when answering that question, but one thing is for sure: Before you start looking at Beavercreek homes for sale, it's important to have a pre-approval letter in hand. 

What is Pre-Approval?

Pre-approval is an important step before buying a home because it essentially proves that you have the financial means to do so. When you obtain pre-approval it says to homebuyers that you're ready and able to buy. It also lets you know just how much home you can afford, which makes it easier to find the right house for you.

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November
11

VA Loans 101 - Wright-Patt Realty

For many Americans, saving 20% for a down payment on a home, much less a down payment at all, can be a struggle. Fortunately, as an active or former member of the United States military, you have certain privileges when it comes to getting a home loan. The U.S. Department of Veterans Affairs sponsors one of the most coveted mortgage products for military members in the form of the VA loan.  

Our REALTORS® have worked with countless active military members, veterans, and their families to help find solutions for them to realize the dream of homeownership.  Here's everything you need to know about VA loans.

  • No Down Payment
    Probably one of the most attractive attributes of VA loans is the fact that no down payment is required. Most conventional loans require a 5% down payment with 20% needed to avoid private mortgage insurance (PMI). Most Americans have a hard enough time cobbling together 5% down, and many won't reach the 20% threshold until they've paid as much in equity. Fortunately for veterans, there is no down payment required for a VA loan, meaning you can finance 100% of the purchase price of your home.

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October
21

Homeowners Insurance Tips - Wright-Patt Realty

Buying a house is a major investment, and as a homebuyer, it's important to do everything you can to protect the investment you make in your property. Homeowners insurance is one of the biggest keys to protecting your investment, and most lenders require you to purchase insurance if you have a mortgage. Even without a mortgage, insurance is important for every homeowner. Our REALTORS® are here to help you protect your home, with our guide to making sense of homeowners insurance.

Home Insurance 101

  • Why Mortgage Lenders Require Homeowners Insurance
    Whether you're shopping for Beavercreek homes for sale or homes in another location, your mortgage lender is likely to require you to purchase homeowners insurance. Lenders require insurance because it protects their investment in your home. If something goes wrong with the property, the lender wants to know any costs will be covered. With the right insurance policy, you'll be able to cover repairs of the most common issues that can damage your home. In addition to covering damage to the home itself, many home insurance policies provide coverage to repair or replace personal belongings in the home.

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August
26

Boost Credit Score - Wright-Patt Realty

Your credit score is the magic key that opens the door to the best interest rates and loan options. It's a number you'll want to raise as high as possible before you start looking at Beavercreek homes for sale. It takes time to raise your score into the right range and the following five steps you can move your score going in the right direction.

  1. Dispute Errors
    Errors are exceedingly common on credit reports. Approximately 25% of credit reports in America contain errors including missed payments, incorrect addresses, open accounts that are in reality closed, and debts that are incorrectly recorded. You should always dispute errors and ensure that any incorrect information is removed from your report. The prevalence of errors on credit reports highlights the importance of keeping your financial records organized. You will need these records to dispute any errors you discover. Once your dispute is submitted, it can take around 30 days for an error to be removed from your credit report and slightly longer for it to improve your credit score.

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July
22

Mortgage Process for Self-Employed Homebuyers - Wright-Patt

Applying for a mortgage means your financial situation is under close scrutiny and that applies even more so when you're self-employed. But that certainly doesn't mean that you can't get a mortgage or that you'll never be able to buy Beavercreek homes for sale. Many self-employed people successfully buy houses every year. But you may encounter a few more stumbling blocks along the way. So what can you do to make the process go as smoothly as possible? These tips can help.

  1. Keep good records and have the right documentation available. Lenders need to assess your ability to pay back the loan before you get approved. It can be a little more difficult to prove you have that ability when you're self-employed. You don't have the paper trail of pay stubs and W-2s other borrowers can rely on. You will need to produce more verification of your consistent income. In general, lenders will want at least two years of tax returns, a 1099 form, and a profit and loss statement if you are a business owner. You will also need monthly or quarterly statements from your bank and investment accounts.

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June
17

Final Walk-Through-Wright-Patt Realty

All the excitement of buying the perfect home after a long and hectic search can be one of the best feelings in the world. In the excitement of the final steps, however, things can be forgotten. We make a point of reminding those about to close on a Beavercreek home for sale to make sure and schedule a final walkthrough about a week before the closing.

This final step helps to ensure that the house you're getting is exactly as promised. This includes making sure agreed-upon items are left behind, such as appliances, and checking that all required repairs have been made. You'll also have a final chance to check for things like infestations and water damage, which may not have been apparent if the previous owners were still living in the house when you toured it. Seven things you will want to examine are:

  1. Exterior. Make sure all the gutters are in good condition, and there isn't any damage from bad weather since originally inspected. Look for missing flowers, trees, and shrubs. Some people actually take these things with them.

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March
25

Spring Home Bidding-Wright-Patt Realty

After viewing many great Beavercreek homes for sale, you've finally found the one that is perfect for your family. Now that you're ready to make an offer, our REALTORS® want to help make this process as easy and successful as possible for you. Buying a home is a huge milestone, and while we share in your excitement, we also want our buyers to be prepared for potential hurdles that may slow the process — particularly an obstacle that many home buyers refer to as a "bidding war."

Contrary to the phrase, competition between buyers is actually a civil event that often occurs when a property's features, location, and price appeals to a large number of potential buyers. Thankfully, our agents have successfully represented many homeowners during the springtime when buyer competition is often higher. We've gathered five effective strategies that you can use when bidding on a home in Beavercreek this spring.

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December
6

Fireplace Safety Tips - Wright-Patt Realty

Wright-Patt Realty knows the holiday season is the perfect time to light the fireplace for warmth and a glowing ambiance. This delightful tradition has some risks that can be minimized if you follow a few commonsense practices.

Our REALTORS®  have compiled a list of 8 tips for keeping your home safe while enjoying your fireplace:

  1. Working Fireplace
    If this is a new home for you, be sure to inspect the smoke ducts, the chimney, and the protective linings. Make repairs if necessary before lighting a fire.

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November
26

First-time buyer holiday gifts
It's the most wonderful time of the year, and Christmas is just around the corner. Hopefully, you've started your shopping lists and have gathered a few ideas of what your friends and family want this year.

Have any of your loved ones recently moved into one of our Beavercreek homes? Our REALTORS® have created this list of eight holiday gifts for first-time home buyers.

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November
20

Prepping Your Home for an Ohio Snow Storm

Our REALTORS® love showing off amazing Beavercreek homes for sale any time of year.

However, if you come from a place where winter snow is a novelty – or a myth – then you might find yourself concerned about Ohio snowstorms that visit us from time to time.

Remember: Every year, millions of people weather the storm without any injuries or property damage. That said, it's a good idea to go into the situation prepared and know what to expect. After you get through a snowstorm or two, you'll be an old hand at the process.

To keep your family and your home safe, remember these valuable tips:

1. Start With a Winter Emergency Kit
The most intimidating possibility in winter is finding that you can't get out to get the supplies you need. Roads may become impassable due to snow or for other reasons. With that in mind, get a kit together to meet all of your needs.

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September
11

Cottages of Beavercreek
Situated just one mile from the Greene Town Center complex, the Cottages of Beavercreek is an affordable, appealing neighborhood with a very convenient location. Within the community, you'll find a selection of homes with spacious, open floor plans, and prices appealing to a wide range of home buyers. This no-maintenance neighborhood is an ideal place to settle down, whether you're a first-time home buyer, a long-time Beavercreek resident looking for a new home, or someone searching for a family-friendly neighborhood close to area attractions. Our REALTORS® have all of the details on what to expect when you buy a home in the Cottages of Beavercreek neighborhood.

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August
30

Kettering Ohio Fraze Pavilion
The Fraze Pavilion at Lincoln Park in Kettering has been a popular outdoor entertainment destination for more than 25 years and remains one of the best places in Ohio to catch a concert. Since it opened its doors in 1991, Fraze Pavilion has attracted some of the biggest names in music to our corner of Ohio and been a place where emerging artists can introduce themselves to the community. Every summer at Fraze Pavilion features the "Summer's Best Music Under the Stars" concert series, which draws visitors from near and far for a busy schedule of great concerts. Our REALTORS® know Kettering, and we've got the inside scoop on everything you can expect at the Fraze Pavilion. 

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August
15

Buying a House When You Have Kids
As a parent, it's only natural that your children factor into the little decisions that you make every day, as well as the big, life-changing decisions that only come around so often. Buying a house certainly qualifies as a big decision, because you'll be shopping for the right home for you and your children. Shopping with kids comes with its share of unique challenges, but it's also a rewarding experience when you identify a home that every member of the family can love. Our REALTORS® are here to help your entire family through the home buying process. 

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July
5

New Home - Calculate home cost
Figuring out how much you can afford for Beavercreek homes is the essential first step for house shopping. While you may have some ideas about what your perfect home would include, most people don't have unlimited budgets. Knowing what you can get for your money is essential to a successful house-buying experience. 

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April
23

Make Winning Purchase Offer
We know how hard it is to find your dream home. And we know that there's nothing worse than finding it only to have your offer rejected by the seller. That's why our REALTORS® are dedicated to helping you make the best possible offer.

Making an offer on a house is a bit like walking a tightrope. Too low, and the seller is almost sure to reject it. Too high, and you'll end up paying more for your new home than you should. Use these tips to make an offer that the seller can't possibly refuse. 

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February
5

Military Home Buyer Mistakes
Buying a house is a big decision, and as an active-duty service member or veteran there are always extra variables to consider when making a real estate purchase. Timing is essential when you're searching for a home, and there's always a chance that you'll be moving again in a few years if you receive new orders. There are also some excellent benefits available to military home buyers if you know where to find them and how to take advantage of them. Our veteran-friendly real estate agents are here to help, with a guide to five mistakes to avoid as a service member shopping for a home.

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January
23

Find a Military-Friendly Real Estate Agent
Purchasing a home is one of the biggest financial decisions that any of us make, and finding the right real estate agent is one of the best ways to make life easier when buying a house. This is especially true for military personnel (both active duty and retired) who often have unique needs when purchasing a home.  From understanding the ins and outs of VA loans to helping you identify the right home in the short time frame you have to shop, our REALTORS® understand the needs of military home buyers.  We've put together five key reasons why finding a military-friendly real estate agent is a must.  

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January
15

FHA Loans - What You Need to Know
Securing a mortgage is one of the most important steps in buying a house, and there are programs available to help all home buyers find a loan that fits their needs. FHA loans, backed by the Federal Housing Administration, are often an appealing option for first-time home buyers, shoppers in the process of rebuilding credit, and for others who may have difficulty securing a traditional mortgage.

These loans were designed specifically to help more people own homes, while also providing protection for lenders. Our REALTORS® are happy to explain the basics of FHA loans, and why they're an attractive option for home buyers.

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December
18

Buying a Home with a New Job
If you're thinking about buying your first house, you've probably heard a lot about how tough it can be to get a mortgage.

The truth is, a mortgage is within reach for most first-time buyers who have steady employment, no bankruptcies, and a reasonable debt load.

But ... even under the best circumstances, the process involves a lot of documentation. Proof of income is one of the most important parts of that equation. It's common to be asked for two years of pay stubs as part of your mortgage application.

If you just changed jobs or have an unconventional work history, it can be harder to dredge that information up. Luckily, it's usually not impossible – it just takes a few extra steps. 

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