Is it time for HGTV & chill yet?!?!? LOL…Don’t hide it you know you’re a fan of the latest and greatest from the array of shows they produce! Whether it’s House Hunters International to Flip or Flop to the Property Brothers. I hear it all the time from my clients about how much they watch these shows faithfully! Whether you are a casual viewer or watching to get your own tips and tricks to purchase your next home there’s one thing for certain that cannot be ignored. PowHerful women do Real Estate! Yes we do!
Great news!!! Single women are one of the most popular homebuyers out there in the market right now. More than 1 in 5 homebuyers are single women according to Realtor.com. As a Realtor for the past 12+ years in South Florida I can see the typical buyer changing and becoming more diverse. Check out the new sister site for more info www.NicoleRymer.Keyes.com. It’s such a great sight to see more Women of all ages have the opportunity to become homeowners. Women are adjusting their crowns and entering the marketplace to the delight of many, including us at The Hub. Owning your own home is an awesome accomplishment with an array of benefits. Paying high rent and putting hard earned money in someone else’s pocket can be draining especially to your bank account. Rents have skyrocketed and interest rates remain historically low making this not just a reality, but a smart decision and worthwhile investment. Homeownership is not some unattainable life goal, but something that is completely attainable with the right plan of action and the right professionals around you.
Here are some tips to start your own process to become a HOMEOWNER!!!
Find a local and reputable licensed Realtor. Ask around and do some research! Does the agent have a website? Does the agent have listings of their own advertised online or sites like Realtor.com? A licensed Realtor with real knowledge of the market, and lending practices that can refer you to the right mortgage broker, that is also tech savvy and a go-getter means you are in the right hands!! Let the trained professionals work for you! Calling a million different Realtors off of for sale signs while you drive around aimlessly is not a good start. Instead take the time to obtain a relationship with an agent that will actually help and work for you in your best interests. A licensed agent knows the market and what you need to not only start the home buying process, but make offers and more importantly get you closed!! Go to a PRO!
GO GET PRE-APPROVED! So many potential buyers miss the importance of this major step. Lending and the mortgage process in general has gotten stricter and knowing where you stand, your credit and what a bank will lend you to purchase is the most important and one of the first steps you absolutely need to address. How can you possibly start looking for a home if you do not know what you are approved for? A good seasoned Realtor will NOT take you out to look at homes unless this step is at least initiated and in process. Pairing you with the right bank is important depending on your situation and the type of loan you need. Getting pre-approved upfront also gives you the best buying power over someone not yet approved. Most sellers will require seeing a pre-approval letter with any submitted offer to make sure they are dealing with someone prepared! You will also know upfront what documentation and requirements the lender will want from you so you can be prepared for the mortgage process itself. Timing is everything during this time period as we only have a certain amount of time to get you closed. Many new lending regulations have been put in place in the last few months by the federal government, and a good mortgage broker will make sure that guidelines are adhered to for a smooth closing.
Next tip, and a step some may not even consider is that depending on what you are approved for, you may or may not be comfortable with that monthly payment and choose to stick to a lower price point. Why does this matter to you? Well, depending on your local market you need to ask your Realtor to show you various homes within different price points of what you are approved for to see what you like and what your money will buy you. You may have to make some decisions on what you want versus what you can get in your market for the price point you prefer to stick to. Are you handy? Can you make some minor improvements yourself to save money? That may be an option to consider.
Ask questions!!! Unless you are a Real Estate professional doing this day-in and day-out no question is ever too ridiculous to someone who is working in your best interests. Be upfront and honest with your Realtor…….AT ALL TIMES! If we do not have all the information pertaining to your situation we cannot do our jobs to the best of our ability.
Last but not least there is real value in being a homeowner that can give you real empowerment in your life. Being a homeowner can give you a sense of community, and its your own special piece in this world that is ALL yours. Feel like you are too far away from this dream of homeownership? Take a look back to our blog from earlier this year on financial stability and budgeting called Get Your Money Right in 2016 to at least get you started on the right path. Again, getting pre-approved will allow you to know where you’re at, and if you cannot get approved today a broker will tell you what steps you need to take to eventually be able to purchase a home.
P.s. Found a good Realtor? Treat that person well as a good Realtor takes time and effort and cares!! Take it from me 😉
So my fearless, ambitious femmes are we ready to enter the Real Estate buying world?? To have a place you can call your OWN?!?! The Hub wants to hear your stories and share with other women!!
Your Licensed South Florida Realtor and PowHer Femme!!
Nicole L. Rymer
The PowHer Hub