Are you gearing up to buy a new Bethesda home and not sure where to start? Whether you're embarking on the exciting journey of buying your first home or you're a seasoned professional, it's always beneficial to do a little research beforehand. By ensuring that you're a knowledgeable home buyer, you'll be more prepared and confident in your final decision.
Take a look at a few of the most frequently asked questions that we get, and don't hesitate to contact us if you're looking for more information!
I've never purchased a home before. Where should I begin?
Well the good news is, you've already started! Just by asking this question you've taken the first steps to being an informed and savvy homebuyer. Next, you should establish a good base of information by reading through articles and statistics on home buying and the local market. Then, take a look at your personal financial standing
You'll want to review your own finances, so start by figuring out a potential budget, setting aside enough money for a down payment, and trying to finish payments on any outstanding debts. This will help prevent running into any financial surprises along the way.
What should I look for in a home?
At the Margie Halem Group, we'll do everything we can to make sure you get your dream home — but deciding what your dream home looks like is completely up to you! Is living in a good school district, near local parks, or close to work more important to you? If you decide on these factors beforehand, we can make your home search process even more efficient!
To learn more about the neighborhoods where you can find your new home, browse a few of our area pages. If you already know exactly what you want and where, then get started with our convenient home search feature!
Why should I use a Realtor?
A good Realtor has years of experience in the local market and can predict trends and changes. Not only will this help you in finding the right place for your unique needs, but it can also help you get the best deal on your home!
Plus, think of all the time you'll save by having someone help out with those stacks of paperwork. Don't worry about deciphering all of the technical jargon, finding a good lender, and meeting deadlines on your own — we're here to help with it all.
How do I go about getting a loan?
If it's your first time getting a loan, it can be an intimidating process. Mortgage loans are available through banks, credit unions, lenders, and more. If you use a local Realtor, we can provide you with our contacts in the area. Once you've picked a lender, they'll help you figure out the rest of the process, but we're still here to answer any questions you may have.
If you're worried that your finances won't be sufficient for getting loan approval, there are several other options you can explore. Buying a home is expensive, but resources like federal mortgage programs or local home buying assistance programs can help.
Once I Find My Home, What Do I Need to Pay up Front?
After you've found your dream home, made a final offer, and are ready to close, there are a few costs to keep in mind:
- Earnest money: Think of earnest money as the security deposit you put on your home. You'll pay this when you submit your offer as a way of showing the seller that you're serious, and it will eventually go towards your down payment or closing costs.
- Down payment: The big fish of the final costs, the down payment is a percentage of the total cost that you pay up front. The amount you pay for the down payment can reduce your mortgage payments, but don't overextend yourself by paying more than you can afford.
- Closing costs: The fees that come along with things like paperwork and using a lender, closing costs are typically lower for buyers compared to sellers.
Your Bethesda Home Selling Resources
If you're ready to sell your Bethesda home, then trust in the help of the Margie Halem Group. These handy buying tips are just the beginning of the resources that we have to offer. Give us a call today, and let's find your dream Bethesda home.