 |  |  |  |  |  |  |  |  |  |
Steps to Owning
Knowledge and experience are the keys to successful real estate transactions here in Saint George, Utah. Hiring a registered Realtor, such as Pat Lisi of Lisi and Associates, can and will be an essential key to your success. Lisi’s knowledge of the local Saint George markets is uncanny, and when you align yourself with Lisi & Associates you can rest assured that you’re going to work with a true expert in the Saint George, Utah neighborhoods.
One of the most important links to making the Saint George, Utah home-buying process easier and more understandable is simple planning. In doing so, you’ll be able to anticipate requests from lenders, home inspectors, appraisers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the home-buying process that can save you both time and money.
Do You Know What You Want in Your Saint George, Utah Home?
Whether you are a first-time home buyer or entering the marketplace as a repeater, you need to ask why you want to buy. Are you planning to move to Saint George, Utah due to a lifestyle change or is buying an option and not a requirement? Are you relocating within Saint George, Santa Clara, Ivins, or Washington, Utah? Why do you need to relocate? What would you like in terms of real estate that you do not now have? Do you have a purchasing timeframe? Do you and your spouse agree as to what you want and need in your next home?
Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. As an interesting exercise, it can be worthwhile to look at the questions above and to then discuss them in detail when meeting with a Realtor from Lisi and Associates in Saint George, Utah.
Do You Have The Money to Purchase Saint George, Utah Real Estate?
Homes and financing are closely intertwined. (Financing is the difference between the purchase price and the down payment, commonly referred to as debt or the mortgage.)
The good news is that over the years new and innovative loan programs have evolved among the professional lenders in Saint George, some of which require very little down payments. In fact, a number of programs now allow purchasers to buy real estate with nothing down. But, be very careful when examining these programs to be absolutely positive that they will work for you. Remember, interest-only is nice until it’s time to start making those principle payments!
In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs.
Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most home buyers choose to buy with some cash up front. Again, a word to the wise on this issue!
As to closing costs, in markets where buyers have leverage, it may be possible to negotiate an offer for a home that requires the owner to pay some or all of your settlement expenses. Speak with someone from Lisi and Associates for details.
Is Your Financial House in Order?
Those great loans with little or nothing down are not available to everyone: You need good credit. For at least one year prior to purchasing a home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.
It is always a good idea to be pre-approved for a mortgage loan. Don’t even bother heading in to see a lender, though, until you know in your heart that your financials are in order.
Many things go into buying (or selling) a home. For home buyers here in Saint George, Utah nothing is more important than good old-fashioned planning. To help you get started on your Saint George real estate planning, contact Lisi and Associates first at, 435-215-3090. You’ll be glad you did.