Tuesday, June 14, 2011

Consider These 5 Tips Before Buying Your North Shore Home

We hope you’re all enjoying the early summer days here on Chicago’s North Shore!  It is a beautiful time of year to get out and take advantage of your North Shore neighborhoods local events, parks and outdoor activities.  For many, the warmer weather offers a great opportunity to do the house hunting they’ve been wanting to do this year.  An abundance of new homes on the North Shore Real Estate market and plenty of open houses provides you with a great chance to see what’s currently on the North Shore market.
If you are considering buying a North Shore home this year, you’ll want to be sure to take note of these five tips before beginning your home search.  While now is a great time to buy, the past few years have brought about some changes to the home buying process.  As Chicago North Shore Real Estate agents, it’s our goal to keep you updated and well informed on what buying in today’s market entails.  
1. Live Within Your Means- This is a lesson that our country seems to be learning collectively. We’ve seen the damage that can come from buying homes we can’t afford and digging ourselves further into debt.  Buying a North Shore home that fits your budget as it stands now will give the home a chance to appreciate. In the long run, your finances will be healthier and you’ll more than likely be able to afford your dream home next time around.
2. Think Long-Term- When buying a home in today’s market, you want to plan for the future. Consider your basic needs such as security, proximity to your job and other daily activities, the school system and room to grow if need be. You want to plan to be in a home for a minimum of three to five years.

3. Research and Take Advantage of Low Rates- Many lenders are encouraging buyers to lock in a long-term loan, such as a 30-year mortgage, to ensure taking full advantage of the historically low interest rates. An adjustable rate mortgage can work for some buyers, but you’ll want to discuss with your Chicago North Shore Real Estate agent about which option is best for you.

4. Be Prepared to Make an Offer- Before you even begin searching for your North Shore home, you’ll want to get pre-approved for a loan. This not only helps you determine your home buying budget, but will make the process run much more quickly once you’re ready to make an offer. This will also force you to get your credit in order and gives you the opportunity to correct any credit issues before entering the North Shore Real Estate market.

5. Find a Recommended Chicago North Shore Real Estate Agent- Having the right agent journey with you through the home buying process will make all the difference. Conduct research online or talk with family and friends to get their recommendations. Many North Shore Real Estate agents have testimonials on their websites that will give you a good indication of other buyer’s and seller’s experience with that agent. You’ll want to find an agent who has experience in the Chicago North Shore Real Estate market and with whom you feel you can work with for however long it takes for you to find your North Shore home.

We hope these home buying tips are helpful as you begin the house hunting process!  If  you have further questions or would like more information about current homes on the market, or about the North Shore Real Estate market in general; please feel free to contact us anytime!  Our goal is to make buying a North Shore home a relaxed and efficient process and would love to help you each step of the way!

The Thomas Team
Chicago's #1 Real Estate Brokerage

1 comment:

  1. By asking your property agent how long is he/she in this field can reveal his/her experience in this matter.The long time the better.

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