Rich Shearrow

Real Estate Agent & Realtor®

614-554-7705

rich@realestategreatercolumbus.com
 

Search For Homes

Home
Up
Buyers
Sellers
New Builds
Helpful Resources
Featured Listings
Relocation
News
Community Information
Real Estate Definitions

 

 

10 Steps to Prepare for Homeownership

  1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

  2. Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.

  3. Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.

  4. Determine if you have enough saved to cover your downpayment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 percent and 7 percent of the home price.

  5. Get your credit in order. Obtain a copy of your credit report.

  6. Determine how large a mortgage you can qualify for. Also explore different loans options and decide what’s best for you.

  7. Organize all the documentation a lender will need to preapprove you for a loan.

  8. Do research to determine if you qualify for any special mortgage or downpayment-assistance programs.

  9. Calculate the costs of homeownership, including property taxes, insurance, maintenance, and association fees, if applicable.

  10. Find an experienced REALTORÒ who can help you through the process.

 

 

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS® 

Copyright 2005.  All rights reserved.  www.REALTOR.org/realtormag

 

 

.

[ Home ] [ Up ] [ Feedback ] [ Contents ] [ Our Privacy Policy ]

Send mail to webmaster@realestategreatercolumbus.com with questions or comments about this web site.
Copyright © 2006 Rich Shearrow, Realtor.  All rights reserved.

*REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict Code of Ethics.

Notice:  By submitting any form or e-mail with your telephone number, you are consenting for Rich Shearrow and authorized representatives to contact you, even if your name is on a Federal or State "Do not call List".

Information presented here is believed to be accurate, but not guaranteed.  RealEstateGreaterColumbus.com, Rich Shearrow, and RealtyOhio Real Estate is not responsible for any information provided by pages linked to by this website.

ps. Don't forget to hit the "refresh" button if you have visited before!

If you need software to read a ".pdf" file, go here>

This Site is Under Constant Renovation and Expansion.  Please feel free to look around.  There is a lot of good information for you to peruse.  But please check back later for additional updates.  If there are topics or information you would like to see on the site, please e-mail me.