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“I think I’m ready to buy, but afraid…what do I do?”


 Everywhere you look, there’s a “house for sale.” You name it----it’s out there. From 1 bedroom to 5 bedrooms. The big question is “What type of home do you see yourself in?”


Keep in mind you’ll be living in your home for at least 5 years to get some real appreciation out of it. So you better make it meet your needs over your wants. Not to downplay your “wants,” your wants have a great impact in your search also. You may want a pool table, but will need a large enough room to accommodate it. Or, you know you want a large laundry area. However, you need it to be upstairs where your bedrooms are or downstairs near the back door. See how it works?


Let’s get started. Make two separate lists; one for your needs and the other for your wants. Start jotting things down. Put your lists aside for a few hours or even for a day or two. Go over the lists later and see if the same desires are there. 3 bedrooms upstairs or downstairs. 1, 2,  3 bathrooms. Where would you want them located in the house? Upstairs, in the bedrooms, basement… Speaking of basement; do you want a basement? If so, finished, unfinished, section off, or just one large area… How about kitchen area, loft area, office area, theater or sound rooms…fireplace? The list can go on and on. Your yard; how large, how small, fenced or not? After going over the list the second time; go over it again. If others will be living with you have them help you decide in your choices. Be very cautious in asking those who will not be living with you. They can’t help it, but they will be really thinking about their desires over yours. Remember, you’re the one who will be living with the final decision. After your third or fourth time going over the list, you should have a general idea of what you might want and need in a home.


Now’s the time to do the actual search.  Touch of Class Realty can help you see your thoughts come to life by showing you homes that may meet your desires. Just so you’ll be prepared to make an offer on that home; have your funds ready. If you hadn’t already made application for a loan, do so. Contact a bank or mortgage company of your choice. To really be prepared, have your previous 2 years W-2’s and current year-to-date pay stubs covering the most recent 30 days. Names and addresses of each employer in the last 2 years. If self-employed; commissions, or income reported on a 1099, last 2 years tax returns and supporting schedules for personal business income. Past 3 month’s statements for all checking, savings and investment and most recent retirement account statement. If a Veteran; Certificate of Eligibility or DD214’s, Certificate of Release. If divorce, copy of Divorce Decree. If filed bankruptcy and at least 2 years out of the bankruptcy, you may need a copy of Schedule E, unsecured debts, and Schedule F, list of unsecured creditors, to show debts that were covered in the bankruptcy. If you do not have a copy of these forms you can request them for a small fee of $35 by writing National Archives, 7358 S. Pulaski Road, Chicago, Illinois 60629.© 



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