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Category Archives: Myrtle Beach buyer’s agent

10 Features First Time Home Buyers Are Looking For

selling a homeNearly a decade of positive housing momentum has been interrupted by the pandemic that has forced governments around the world to issue “quarantine” orders. What was expected to be one the busiest summers of recent history has actually failed to live up. Instead of realizing historic home sales figures, buyers and sellers now sit on the sidelines, waiting for the right person to move. But, there is still demand. Despite the pandemic being an obstacle, buyers remain in the market and are likely to be more willing to purchase than ever.  This raises the question: What do home buyers really want? What can sellers do for their homes to make them more attractive to buyers?

Although the Corona virus has changed how buyers and sellers see the real estate market, some of the most desirable home features have remained the same. A Myrtle Beach Realtor will be able to find a home with your favorite features. How can sellers capitalize on this participation? What can homeowners do to ensure that their homes sell in the coming year? Lastly, what features are the most important for home buyers?

Updated Kitchens & Baths

What are the top priorities for new home buyers? It’s simple: modern kitchens and bathrooms. Millennials as well as first-time home buyers are making their intentions clear. Modern kitchens and bathrooms are essential. Metropolitan Regional Information Systems Inc. recently conducted a survey and found that 81% of respondents considered updated bathrooms and kitchens to be the most important features when deciding whether to buy a home. If you have the budget, you should  update your bathrooms and kitchen.  You don’t have to spend a lot to attract first-time homeowners.

Open Floor Plans

What is the most important thing home buyers want, other than more living space? After all, the whole point of buying a home is to improve on existing living arrangements. First-time home buyers are keen to have open floor plans, even if they don’t need modernized bathrooms and kitchens. Before selling a property, sellers should review their floor plan.

Proper renovations can increase the property’s value and appeal. It is possible to have more attractive floor plans that create demand. Your property will sell faster and more often if it has more exposure.

Low Maintenance Features

Many millennials are discouraged from participating in the housing market because of the high cost of buying a home. Even those who do make the leap should be cautious, as prices rise in every city. It’s not hard for first-time home buyers to save enough money to pay a down payment or make a monthly mortgage payment. First-time home buyers don’t have enough money to cover all the costs associated with the purchase.

Selling homes should consider the idea of saving money on home maintenance as a selling point. First-time buyers are often embarrassed by the idea of spending more on maintenance after making the biggest purchase of their lives. Therefore, it makes sense that they would prefer a home that is ready to move in than one that requires extensive maintenance. Sellers are encouraged to minimize the amount of work required after purchase.

Energy Efficiency

Energy efficiency is similar to limiting the maintenance that a property requires after it has been purchased. First-time home buyers are now interested in saving money. Energy efficiency can also lead to compounded savings over time.

If you want to attract first-time buyers, sellers should include as many energy-efficient upgrades as possible in their homes.

Today’s buyers are more interested in how much money they can save on their energy bills. Properly insulated homes can help owners save a lot of money on their energy bills.

When you’re looking to sell your house, make sure to mention any energy-efficient features you have. A first-time buyer is interested in any amenities that can save them money over the long-term. This includes low-flush toilets and attic insulation.

Wireless connectivity

What do home buyers really want right now? Connectivity. Millennials are more tech-savvy than any other generation. It is safe to say that millennials will be dependent on technology in their home buying decisions. Nearly a quarter (20%) of first-time buyers will place priority on homes that have strong mobile phone service and Internet connectivity (smart home features).

It’s not surprising that millennials are the first generation to expect their homes to be technologically compatible. Strong Internet connections and mobile phone service are not a luxury, but a necessity. Sellers will have a better chance of selling their home if they realize this sooner than later. If you don’t address this issue, your home will become stale.

Laundry rooms

Laundry rooms are often overlooked, but they’re not forgotten. According to Kiplinger, 91.0% want laundry rooms in their new homes. This includes first-time buyers. It could be that they need more space or because they have had enough of sharing communal laundry rooms in their apartment buildings. However, first-time buyers expressed the desire to have a laundry area.

Patios

Many first-time buyers will want more space when they move into a new home. New buyers often come from small living spaces and need more space. A patio is a great option because most buyers have grown to use a balcony. It’s also a simple upgrade that can make all the difference.

Garage Storage Space

It’s easy to accumulate way too many things, as any homeowner will tell. Garage storage is essential for homeowners who have a natural knack for excess. But efficiency is more important. The garage storage allows homeowners to store the items they want and need without taking up too much living space. Garage storage is often more accessible than an attic, shed or garage, so homeowners can store their items over the course of a year and not forget where they are.

Garage storage costs can vary greatly, with everything from DIY shelves to professionally built workbenches and cabinets. The effort, regardless of price, will attract more buyers.

Exterior Lighting

The exterior lighting can be a great way of adding curb appeal as well as functional lighting. A well-lit home will make you feel more welcoming and attractive to those who pass by it or stop in to visit. Anyone who plans to host outdoor activities will need exterior lighting. Exterior lighting can also be an additional safety feature. Even a few small changes can make your home safer. Home buyers are beginning to notice the importance of exterior lighting, whether it is for entertaining or hosting a party. Exterior lighting is relatively affordable at $50.00 per fixture. Although the price of more expensive fixtures can go up, the bottom line is that it can still be done at a reasonable cost.

Walk-in Pantry

What are the most important features for home buyers? This is the most important feature for home buyers. Walk-in pantries can be a great way for a home to have more space. A walk-in pantry can cost anywhere from a few dollars to a large sum. The style of your home will determine the price. Luxury homes, for example, will need larger pantries to meet their needs. Owners can spend upwards of tens to thousands of dollars on luxury walk-in pantries. Mid-range homes may be able to get something cheaper. A walk-in pantry is a must-have for 83.0% of today’s buyers. This makes the investment worth it. They also want more space than the current place they live.

 

It is important to tell your Myrtle Beach Real Estate Agent what is important to you and what you look for in a home. The remainder of 2022 will undoubtedly attract the attention of first-time home buyers. This leaves sellers with one question: What features are most important for home buyers? What are the needs of new home buyers? And what can sellers do today to meet their customers’ expectations? Sellers should not only offer a listing in a competitive market but also take note of the above amenities. Sellers should not only be able to find buyers with today’s most desirable home features, but they should also offer higher returns for their owners. Sellers have the responsibility to deliver if buyers are willing to pay more for the features they desire. 

If you are a first time home buyer looking for the perfect home, call Full Potential Real Estate, LLC today!

Full Potential Real Estate, LLC

Myrtle Beach 29579

843-236-0203

How To Find A Great Real Estate Agent

buyers agentYou have been contemplating whether you should buy a home for some time. Now that you have decided that now is the right time to buy a house, what are you going to do first?

First, find a professional real estate agent who can help you. Not just any agent. You need someone who will look out for your best interests and not just for a quick buck.

Most people simply go to the phone book to look up names of real agents. You don’t have to go directly to a phone book in order to find a good real estate agent you feel comfortable with.

Finding A Real Estate Agent

Your circle is the best place to start when looking for a reliable agent. You may have family members, close friends or relatives who could help you. You can also ask close friends and family to help you contact that person. Let them know what you need or what you are searching for.

Once you’ve done your research on each representative and their business, it’s time to interview them. To ensure that you find the right agent for your needs, arrange meetings with each one. You can also ask questions about their experience and their real estate business. Also, inquire about the cost of houses in your area. If you are prepared, the representative will be able to give you information about themselves and their real estate company. You will have a better understanding of what they can do and what they stand for once they leave your home.

Full Potential Real Estate’s agents are fully trained and ready to help you list your home. We will provide you with stats and details to assist you in choosing us to represent your residential or commercial property. However, we don’t want to just get it into our data source. We will provide your home at the correct market value.

You will be able to make a profit by selling your home at the right market value. Reduce your asking price to the right market value instead of offering your home at an excessive rate and letting it sit on the market for months or even years. This will ensure that your house is seen by more people, which in turn will result in a faster and more profitable deal.

The home buying process will become much easier and less stressful if you work with a real estate agent. Give Full Potential Real Estate, LLC a call today and inquire about their professional assistance and learn more about homes for sale in Myrtle Beach.

Full Potential Real Estate, LLC

Myrtle Beach, SC 29577

843-492-4537

http://fullpotentialrealestate.com

Real Estate Tips For First Time Home Buyers

buying a homeIt is not a good idea to jump into the real-estate industry as a first home buyer without making the necessary preparations. Before you buy your first home, there are many things you need to do. This is essential to make sure that your purchase is successful and beneficial for both you as well as the seller.

These tips are from real estate professionals if this is your first home purchase.

Deciding if purchasing a house is the right decision for you

First, determine if buying a home is right for you. To ensure that you can afford the house in the future, assess your financial situation. You should not plan to move in the next five years. You will waste your time looking for the right house and going through the steps of the home buying process if you do not plan to live there for an extended amount of time.

Get the best professionals

Experts agree that hiring the right professionals is key to a successful home-buying experience. Although the internet has many of your needs covered, it’s still important to have licensed and trained professionals assist you in your home purchase. This is especially important if you are buying your first house. The realtor, mortgage professional and listing agent will help you navigate the entire home buying process. You will need to spend some time searching for the best professionals to work with. Once you find a Myrtle Beach Real Estate Agent, you should feel at ease. 

Protect your finances

This is vital as there are many costs and expenses associated with buying a house. You need to ensure that you have enough funds to cover the monthly payments for the next few years. After paying the down payment and closing, make sure that you have enough money. Remember that there will be other expenses, such as utilities and daily living expenses, that you need to cover after you buy the house and when you settle in.

Priorities you should be focusing on

This principle is especially important when searching for homes to purchase. This is especially important when looking for homes to buy. When you visit houses, don’t get distracted by the beautiful counter top or the intricate wall decors. These are the things sellers use to attract buyers. It won’t be as hard or heartbreaking to sell your house if you don’t have the money.

Talk to your neighbors

According to real estate professionals, talking to neighbors is a great way to evaluate the neighborhood. This, along with visiting the area at different times of day, will help you decide if the house is right for you. As long as you can find neighbors who have lived in the same house for many years, they will be able to give you lots of information about the area and the house you are interested in buying.

 

Looking for a trained and licensed real estate professional to work with? Call Full Potential Real Estate, LLC Today!

Full Potential Real Estate, LLC

Myrtle Beach, SC 29577

843-492-4537

http://fullpotentialrealestate.com

 

What Is A Listing Agent And What Can One Do For You?

listing agentFinding a Myrtle Beach listing agent is a must if you are looking to sell your house. What exactly is a listing agent? Although you might think of a listing agent, or real estate agent, as someone who puts a sign on your front yard and shows potential buyers around, there are many more.

Here are some tips to help you find the right agent for your area.

How to price your home with the help of listing agents

What is the value of your home? It’s not an easy question to answer. Although you can find an estimated value online, it’s not possible to fine-tune the information. That’s where a good agent can help.

The stakes are high. If you price your home too low, you can lose a lot of money. It’s not a pretty picture if you price it too high. Although it might be tempting to hire an agent who promises he can sell your house for a lot, overpricing could cause your home to languish on the market for months or even decades. This could make buyers question your home’s condition and lower your asking price.

A listing agent will assess the sale prices of comparable homes in your area and recommend you accordingly.

How to sell your house using the help of a listing agent
A listing agent should give you a detailed marketing plan that explains how she will sell your property after you have determined an asking price. The following should be included in your marketing plan:

If necessary, recommendations for home improvement or staging. These alterations may be time-consuming and costly, but will increase your chances of selling faster and for a higher asking price.

Hire a photographer to capture your home’s best qualities.

Add your home to the Multiple Listing Service. Home buyers and agents can view your property, and decide if it’s worth their time to visit.

How listing agents negotiate with buyers
The listing agent will present the offer to you once you have received it. They can also advise you if there are any negotiations that need to be made. If you receive an offer that is significantly lower than the asking price, your instinct may be to decline. A listing agent may be able negotiate with buyers to bring the price up to a reasonable level. If the buyers are unwilling to compromise, they might find other ways to sweeten their deal, such as a quicker closing date or waivers of contingencies. These compromises could save you thousands of dollars.

How to choose the right listing agent
Do your research to find the right agent for you. Do not just go with the first agent that you meet. Ask at least one agent to meet you and get to know them.

These are questions you should ask prospective agents:
What number of homes have you sold in this region? How long ago was it?
What price range do most homes sell for?
Are you able to give me advice on the condition of my house and how it could be improved, so that I can sell my house for a higher price?
What’s your marketing strategy?
Do you have any recommendations for photographers, contractors, or moving companies?
Are you a member of the National Association of Realtors(r). (Realtors must adhere to the group’s code ethics.
How often will we touch base?

How much are listing agents paid?
Listing agents do not receive any commission if your home is sold. The typical agent commission for a home that sells is 6%. This is split between the buyer’s agent and the listing agent. Although this may seem high, consider the following: On average, an agent will spend nine hours working behind-the scenes for your benefit, every hour he spends with you. Listing agents work hard to get that commission and sell your home.

If you are ready to list your house, call an agent from Full Potential Real Estate, LLC.

Full Potential Real Estate, LLC
Myrtle Beach 29579
843-236-0203
http://fullpotentialrealestate.com/

What Are Home Buyers Looking For In A Home?

buyers agentToday’s home buyers know exactly what they want, from tiny homes to modern and smart homes.  Home buyers are more conscious of the environment today, especially in areas where power efficiency and storage are important. Talking to a Myrtle Beach Real Estate Agent is a good idea. They can find you exactly what you are looking for.

Are you the same when it comes to home-buying?

According to a survey by the National Association of Home Builders, energy-efficient houses were voted the best by home buyers. Ninety-four per cent of respondents stated that they wanted energy Star-rated devices. At least 91 percent said that the whole house should be energy efficient. On the other side, 89 percent preferred home windows to be efficient and 88 percent were happy with ceiling fans.

 

Preferences of the Home Buyer

Every home buyer is different and each one has their own set of requirements. Buyer agents in Myrtle Beach might be interested in this. Here are some demands for today’s home buyers.

 

Cost Savings VS. Energy Efficiency

Eco-friendly homes are a top choice for today’s home buyers. It’s all about cost efficiency. The more efficient a home is, the less they pay for electric bills. According to the NAHB survey, 67 percent said they were concerned about the home’s effect on the environment, but would not pay more. However, 73% agreed that future energy costs would affect their decision to buy a home. Home buyers are more likely to spend $1,000 less on a home that will save them energy costs.

 

Huge Closets VS Storage Rooms

What is more important when it comes to storage than big storage spaces like closets, or an extra room for storage? It is important to have enough storage space to store everything. The survey revealed that 93 percent of respondents wanted a utility area, while 90 percent only desired extra storage for their bed linens. Other home buyers preferred a walk-in pantry in the kitchen. 57% of home buyers who wanted a utility room felt it was essential and would not consider buying a home without one.

Today’s home buyers are looking for bigger garages that can hold 2-3 additional cars. The garage space is being used by home buyers not only for their vehicles but also as storage space. Around thirty-two per cent consider the garage storage area an essential space in their home.

 

Living Room VS Kitchen & Dining Room

According to the study, home buyers want to see more houses that make the dining and kitchen area the focal point of the house. Today’s home buyers are passionate about entertaining their family and friends by cooking and dining at their homes. Buyers today are looking for open layouts that allow the kitchen to be connected to the dining area and the living room.

No matter what your home preferences are, Full Potential Real Estate can find the right home for you and your family.

 

Full Potential Real Estate, LLC

Myrtle Beach, SC 29577

843-492-4537

http://fullpotentialrealestate.com

How Long Does It Take To Purchase A Home?

real estate questionsYou may long to own your first or next home, no matter how small or cramped you are. You may feel that the search for a home is a daunting task. The truth is that buying a home doesn’t need to take as long as you think. Let’s look at the time it will take.

What is the average time it takes to buy a house?

You could be moving into a new home within 5-6 months, depending on where you live and your finances. If you buy a home with cash, it will take less time. If you are buying while selling your existing home, it might take longer.

You can also take steps to reduce the time you spend waiting. The best news is that you can do most work from your couch.

Let’s look at how to buy a house. First, let’s take a look at what you need to do before you start looking for a house. This will ensure that the process is smooth and efficient.

Before you start looking for your next home, you can prepare yourself to house hunt to reduce the time and effort required to buy your next home.

Organize your finances

Before you go to an open house and ask for a mortgage, make sure you take a hard look at your financial situation. This step can be completed in as little as a day depending on how your finances are managed.

Find out where you want to live

As you work to sort out your financial history, consider where you would like to live. Do your research and think about your lifestyle. Ask your family and friends what they love and dislike about their current location.

Timeline for Buying a House

You can expect to spend approximately 6 months searching for a home, getting mortgage approval, and closing on the property. However, this time frame can change depending on your personal circumstances.

 

Step 1: Apply for a Mortgage Pre-approval

Before you begin looking for a home, you will need to get pre-approval. This usually takes 1-2 weeks. When you apply for pre-approval, your lender will verify your income and check your credit history to determine the amount of home you can afford. The lender will then send you a letter with a formal estimate of the amount of loan they are willing to give you.

Pre-approval letters are a sign that you are serious about purchasing a home. Sellers and agents know that you will not have difficulty getting a loan once you find the right property. When you find the perfect home, your pre-approval letter will help you strengthen your offer.

Pre-Approval is usually quick and easy. You can apply online for a loan from many lenders in as little time as one afternoon. You should answer all questions of your lender, provide all documentation, and respond promptly to emails and phone calls. This will ensure that you get pre-approved as quickly as possible.

 

Step 2: Buy a Home

The hunt for the perfect home is often the longest part of the purchasing process. It will take you around three months to find the perfect property. You can save time and avoid looking at properties that don’t suit your needs. You don’t have to rush. It is not a good idea to rush into debt to buy a house you don’t like.

For a faster process, work with an agent

A Myrtle Beach real estate agent is the best way to speed up your home buying process. Local professionals are familiar with the market and can help you make the right decisions when buying a home. A real estate agent will help you narrow down your search and find homes within your budget. A real estate agent can help you make a strong offer, speed up negotiations, and even assist with your closing.

Step 3: Submit An Offer And Negotiate

It can take up to two months to submit an offer and follow through. When you have found the perfect home, your agent can help you submit an offer. A letter of offer outlines the terms of the sale. It includes information such as the price, closing costs and repairs that you require before closing. The job of writing an offer will be handled by your real estate agent.

These negotiations can take a while, as you might imagine. To speed up negotiations, ask your agent to contact the sellers’ or buyers’ agent. You might get valuable information from your agent that will allow you to customize your offer and obtain a quicker acceptance.

 

Step 4: Prepare for Closing 

When you have reached an agreement with your sellers, your mortgage loan will be closed. Most lenders require that you finalize your loan details within 30 to 45 days. This is to ensure your home meets the minimum requirements of your loan. During this time, your lender will schedule an appraisal. Before closing, you should order a home inspection.

 

Step 5: Close on your Loan (About 1 Week).

Once your appraisal is cleared and your lender has finished underwriting your loan, it’s time for you to close. First, your lender will issue you a Closing Disclosure. This document will outline the final terms of your loan including your APR, and what you have to pay in closing costs.

You should carefully read the Closing Disclosure. Your lender must give you at most 3 days to review your Closing Disclosure prior to the closing meeting.

Your lender will arrange a closing meeting after the 3-day deadline has expired. After the 3-day window has expired, your lender will schedule a closing meeting. You’ll sign your loan papers and pay your down payment. Once you have taken control of your property, your lender will notify you. Any last-minute questions regarding your loan agreement can be asked.

After you close the closing meeting, you are officially a homeowner.

You could be in a new home sooner than you think

A majority of buyers expect to spend approximately 6 months buying a home. After you submit your application, it will take approximately a week for you to receive your mortgage pre approval. You’ll also spend about 3 months looking at properties. You may need to negotiate a deal with the seller for anywhere from 1-2 months depending on where you live. It will take approximately a month for the lender to approve your loan, and another week to schedule a closing appointment.

It is important to remember that buying a house is an individual process. While some people spend less time buying a house, others spend more time going through the steps. If you aren’t sure you have the time or patience to commit to a 6-month timeline, don’t rush.

 

When you’re ready to purchase a home, Call Full Potential Real Estate, LLC for a great home buying experience!

Full Potential Real Estate, LLC

Myrtle Beach, SC 29577

843-236-0203

https://fullpotentialrealestate.com

How To Hire A Reliable Listing Agent

real estateTwo major mistakes homeowners make when it comes to hiring an agent for their listing are: They base their decision on the house’s highest price and the lowest commission.

The seller might initially say, “Are you crazy?” Sellers will often want to get the best price and the lowest commission. These criteria are not relevant to hiring a competent and reliable listing agent. They are often completely irrelevant in many cases. Let’s discuss why.

Highest Suggested List Price

Myrtle Beach Real Estate agents can’t tell you how much your home is worth. This is a mistake. Listing agents can provide you with comparable and pending sales as well as active sales. You can choose the sale price, and buyers will let you know if it is fair. An agent will recommend the price range that is most likely to attract buyers. The buyer will decide what happens next.

Agents can distort the truth to get the listing. Because real estate agents cannot guarantee sales prices, it is possible for a listing agent to recommend the highest price. Ask the agent for supporting numbers to support their suggested listing price. If the agent doesn’t have stats or the sales were in a different area, it may be a red flag.

Look for a listing agent that can provide a price range. The spread may be higher or smaller than the $10,000 difference between the high-end and the low-end. The range is determined by many factors, including market temperature and improvements to the home.

Pricing is an art form. The best time to make an offer is typically within the first 30 business days of it being on the market. The ideal time is 21 days. It will be easier for you to receive an offer if your home is correctly priced. If it is priced too high, buyers won’t be interested in your home. You will end up lowering its price and leaving them wondering if there are any problems with the house.

Choose an agent based on commissions

Each real estate agent is different. Each agent has their own strengths and weaknesses. Remember that only 10% of agents will manage 90% of the business. Each agent has its own marketing budget and techniques. You will be more likely to get a deal if you choose an agent who has a large advertising budget and can use company dollars to complement it. You will be more likely to get an offer if you can reach multiple buyers.

Why would an agent work harder than their competitors? A broker or real estate agent may discount a fee for a number of reasons. Sometimes, it’s the only way a real estate agent can compete in today’s highly competitive market. Without it, the agent won’t be able to stand out among the rest of the competition in terms of knowledge, service or negotiation skills. If the only benefit an agent offers you is a low fee, then you should ask why. Is he desperate to get your business? Are they unqualified? Do you want to work with a desperate agent?

Sometimes full-service agents can negotiate a lower commission in certain circumstances, such as:

If you are selling and buying a house simultaneously, both transactions will be handled by one agent. Although I don’t offer discounts like this, there are agents who do.

You’re willing to do the marketing and advertising work, as well as pay for all expenses associated with the sale.

Agents would prefer the signage and overcharge a full commission.

If you’re interviewing agents that offer similar services but are unable to decide between them, ask if they can show you their track record. This includes the original list prices and final sales numbers. You will find that the lowest-paid agent will offer you more price cuts and longer DOM. The difference in charges between agents who charge 6& and 5% is only 1%. Consider how you would fare if your house is sold by a lower-cost agent who can’t afford to market it actively.

Marketing Agents is Important

Marketing is the only way to make a listing agent a success. Because marketing helps them sell houses. Make sure to read every page of the agent’s marketing plan. What is the agent looking to accomplish in selling your home? These are some of the most important:

Lock box, Electronic tracking daily of lock box access, Professional signage that includes the number of the agent, Incentive for broker previews, Staging advice, Virtual tour, Targeted digital marketing, Distribution to Websites, Flyers for buyers, Four color flyers, and Open houses.

Remember that there is no one strategy that sells homes. You will always need to use a combination of these strategies to market your home.

A Good Listing Agent

Your listing agent will establish a special business relationship for at least one month. Choose an agent that you like, and someone you feel comfortable with. These are some of the traits that sellers expect from their agent: Experience, Education, Honesty, Networking, Negotiation skills, and be a Good communicator. 

Ask for a personal guarantee. Do not hire an agent if they do not promise performance or will remove you from a listing.

Call Full Potential Real Estate, LLC if you want to work with a professional, reliable, and competitive listing agent.

Full Potential Real Estate, LLC

Myrtle Beach, SC 29577

843-236-0203

https://fullpotentialrealestate.com

Questions First Time Home Buyers Should Be Asking Themselves

real estate agentFor first-time buyers, buying a house can be difficult. There are many requirements involved in buying a home. You may also be worried about making costly mistakes. First-time home buyers have some advantages that are designed to encourage new buyers in the real estate market.

The First-Time Home buyer Benefit

The American dream of owning a home remains a core part of the American dream. If you are not able to pay the minimum down payment or are part of a specific group, then you can access state programs, tax breaks and federally backed loans. Even if you are not an expert, you might be eligible as a first-time buyer.

The first step is to identify your long-term goals and how home ownership fits into those goals. Maybe you are simply trying to convert all your “wasted” rent into mortgage payments that will give you equity. Perhaps you view home ownership as an expression of independence, and like the freedom of being your landlord. A home purchase can also be an investment. 

Do a thorough evaluation of your finances before you start looking online and falling in love with the home of your dreams. It is important to prepare for the home purchase as well as the ongoing costs. This audit will help you decide if you are ready to make this big decision or if there are more things you can do to prepare. Once you do this, you can contact a real estate agent

 

Take a look at your savings.

Do not consider purchasing a home until you have a savings account that covers three to six months of your living expenses. There will be significant up-front costs when you purchase a home. This includes the closing costs and down payment. Not only do you need to save money for these costs, but also for an emergency fund. It will be required by lenders.

 

 What type of home is best fit for your needs?

There are many options available when buying a home. These include a single-family home, duplexes, townhouses, condos, and multifamily buildings with 2 to 4 units. Each option has its advantages and disadvantages depending on your goals. You need to choose the type of property that will best help you achieve those goals. A fixer-upper can help you save money on any property, but it may take more time and effort to make your dream home.

What specific features would you like in your dream home?

Although it is important to keep some flexibility in your list, this is the largest purchase you will make in your life. You deserve that purchase to meet your needs and desires. You should consider the basics, such as size and location, and then go down to the details, such as bathroom layout and durable appliances. You can get an idea of the price and availability of properties that offer the features you are looking for by scanning real estate websites.

 

What amount of mortgage are you eligible for?

It’s important that you know how much a lender will lend you before you begin shopping for your first home. While you may believe you can afford $300,000. Lenders may say you are only eligible for $200,000 due to factors such as your income, debts, and length of employment. Many agents won’t spend time with clients who don’t know how much they can spend.

 

 What is the maximum amount you can afford to buy a home?

Sometimes, a bank will lend you more money than you actually want. A bank may offer $300,000. But that doesn’t necessarily mean you should borrow that much. Many home buyers who are first time buyers make this mistake, ending up “house poor” and having little money left over after paying their monthly mortgage payment. This is because they don’t have enough to pay for other expenses such as clothes, utilities, entertainment, food, and vacations.

 

Who will help find you a home and guide your purchase?

A Myrtle Beach Real Estate Agent can help you find homes that fit your criteria and within your budget. They will then arrange to meet you to show you the homes. These professionals can help you negotiate the purchase of a home once you have chosen it. They will also assist you with getting a loan and making offers. The expertise of a good real estate agent can help you avoid any potential pitfalls. A commission is paid out of the seller’s proceeds by most selling agents.

The bottom line

This overview should guide you in filling in the gaps in your knowledge about home buying. It is important to be as informed about the process as possible before you start looking for houses. You’ll feel confident that you have successfully completed a major life step.

 

If you are a First Time Home Buyer ready to buy a home, call Full Potential Real Estate, LLC!

 

Full Potential Real Estate, LLC
Myrtle Beach 29579
843-236-0203
http://fullpotentialrealestate.com/

What Are The Benefits Of Buying vs Renting?

Myrtle Beach real estate agentMany people find that owning a house is more practical financially and in terms of lifestyle than renting. Here are some top reasons why people choose to buy rather than rent. Find a Myrtle Beach Real Estate Agent to help choose the right home for you.

The Property can be used for any purpose you wish

You can paint the room of your child any color you like, change the floors from wood to carpet, and install a new chandelier in your dining room. If you choose to buy a new construction home, you can choose all appliances and interior colors. These home improvements can increase your property’s value. 

Appreciation Benefits

A home is a better investment than stocks because it gives you the opportunity to live in your home every day. The financial benefits can also be significant and may even outweigh stock investing. Because a home appreciates more quickly than stock investing, you will get the appreciation of the entire property’s value and not the gains from your cash investments.

Tax Benefits

When filing their tax returns every year, homeowners are permitted to deduct property taxes and mortgage interest. Property taxes are assessed at both the local and state levels for homeowners. If you’re married and filing jointly, you can deduct $10,000 in property taxes. You can also deduct $5,000 if married filing separately. The property tax deduction may be very beneficial depending on where you live. These tax benefits can make it possible to own a home that is as affordable or even cheaper than renting.

The Mortgage Costs remain the same 

Your mortgage payment will not change if you have a fixed-rate mortgage for your home purchase. Rent increases every year unless a renter lives in a rental-controlled area or building. This provides a lot more stability in the budget, as the mortgage payment makes up the majority of the owner’s housing payments. Owners and renters both have insurance, though renters don’t need it as much as owners. This can also affect the cost of other expenses. This fee can be tax-deductible, even though owners pay property taxes. Property taxes can increase as the home values. Ask your agent about the benefits of a Fixed-Rate mortgage. 

Forcible Savings

A homeowner who is making monthly mortgage payments will pay a portion to reduce their loan balance. This gives them more equity in the home. Each year, the average monthly pay-down keeps increasing. The monthly loan payment must be paid down each month. However, it is the owner who is required to make investments in their home. It’s like forced savings. Work with your buyer’s agent to stay within your budget. This will make sure you have extra savings. 

 

If you are interested in buying a home in the Myrtle Beach area, Call Full Potential Real Estate LLC, Today! 

 

Full Potential Real Estate, LLC

Myrtle Beach 29579

843-236-0203

7 Reasons Why You Should Consider Buying A Home In Winter

buying a home
buying a home

You might have never thought of it before but buying a home in the winter has its perks. It’s a bit out of the ordinary to go house hunting the middle of winter. As it’s not the most ideal time to be buying a home, but it does work. Of course, you can’t do this alone. You will need to find yourself a real estate agent for your hunt. But does it really work? Check out these seven reasons why you should go against the flow and start searching for a home in the winter.

A buyer’s agent is what you will need in case you wish to find a good deal

  1. There’s less competition – when you come to think of it, buying a house in the winter isn’t all too exciting. And with that comes less competition. In the summer, everyone is looking around trying to find a good spot to settle in. House hunting is often done when the weather is fine. Basically, you’ll have a lot of competition if you were to buy in the summer.
  1. Sellers are realtors are eager to make a sale – it’s not often that realtors and sellers make a sale in the winter. It’s not common practice for people to sell their property during this time. However, it’s a perfect time to take advantage of it. Your local Myrtle Beach real estate agent will be quite eager to make a sale during this time. Since there won’t be a lot of business this time of year, any realtor who wants to make money will be eager enough to cater to potential buyers despite the cold.
  1. Moving companies are available – if you’ve ever tried to move to another home in the summer, you already have an idea of how hard it is to find movers. On the other hand, it’s not as hard to find moving companies since not everyone wants to be moving out in the middle of winter. Of course, you will want to take advantage of this time. You just have to bear the cold, though.
  1. Sellers want to quickly close a deal – during the summer months, there’s a lot on the plate of everyone. It’s not the fastest time if you want to close a deal with a seller. On the other hand, it’s quite the opposite during the winter as most sellers prefer to close the deal before the holiday season.
  1. Extenuating circumstances – there could be a lot going on in people’s lives that may drive them to sell during the winter. However, when you do spot a seller in the winter that just means they are trying to get out as soon as possible. That’s the perfect time to get a good deal. Your realtor will make quick work of the transaction too.
  1. Better interest rates – buying a home before the end of the year is a smart way to lock in your interest rates. The following year, interests may rise, which would make it harder for your finances. However, the right timing, particularly in the winter, will give you better rates.
  1. Firsthand experience of what your potential home would be like – of course, if you see it in the winter, you’ve already seen how your potential home could be. When buying a home in the winter, don’t forget to find a good buyers agent. Getting the help of experts like Full Potential Real Estate can give you an advantage.

Call Full Potential Real Estate, LLC if you need the help of an experienced buyer’s agent who can help you find your dream home.

Full Potential Real Estate, LLC
Myrtle Beach, SC 29577
843-492-4537
http://fullpotentialrealestate.com

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