El
Paso United, Realtors
GEORGE
JABALI Residential & Commercial
Real Estate E-Mail:
[email protected]
Member: Greater El Paso Association of
Realtors, MLS, National & Texas Association of Realtors, Commercial
Investment Division
*Licensed by the Texas Real Estate Commission * TREC Approved Real
Estate Instructor * Degreed in Residential Real Estate
First time
home buyers need to be aware of the traps that could derail their quest for
that special place they can call home.
1. Don't buy a home you can't afford.
Get pre-approved by a mortgage broker and find out how much you can
qualify for and what price range you should be looking in. Don't go overboard
and choose a monthly loan payment within your budget.
2. Decide to rent vs. own home. Stop paying your landlord. Home prices and interest
rates are rising and you could be losing thousands of dollars in tax deductions
and equity.
3. Buying wrong size home. Check out floor plan for space and function ability.
Plan for changes in lifestyle such as marriage and you may option for 2nd bedroom.
Think ahead.
4. Do not pass on a good home because it isn't perfect. Make a wish list of
features and prioritize which ones are really important to you such as a
neighborhood, parking space, room size, etc. Be specific about what you want
and really need.
5. Choose wrong mortgage. There are 0-5% down payment options and you may not
want a 30 year fixed if you will be living in home 7 years or less. A five year
adjustable rate mortgage may suit your financial needs and save you money.
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