Dos and Don’ts of Buying a Home

When it comes to purchasing a home, there are some things you should do, and some things you shouldn’t. Having these tips will allow you to get the most out of your experience while also allowing the process to run smoothly. Here’s a short list to keep you (and your realtor) happy.

DO

  • Get pre-qualified with a lender– this allows you to see what your budget for a home will be so your realtor can keep you within your price range.
  • Find a real estate agent that matches your personality- and stay loyal to that agent. Working with multiple realtors only makes things more difficult for everyone.
  • Do your research– whether that be for agencies, homes, or lenders, it’s important to know exactly what you want and qualify for. The more straightforward you can be, the better.
    • Your agent will also have a list of local lenders for you to use. Take the recommendations seriously. Using a trusted and quality lender is key.
  • Ask questions– make sure you know exactly what the process will entail. Have your agent lay everything out so you won’t be confused later on. Call The Gardner Home Team for help and to answer any questions!
  • Do a walkthrough- before buying the home, make sure that you are comfortable purchasing the property as is and be sure to note anything that is wrong or needs fixing.

DON’T

  • Don’t buy anything with your credit after pre-qualifying- this causes your line of credit to adjust and may cause you to be disqualified from the lender.
  • Don’t go into open houses without mentioning you have a realtor- it is important, not only for your realtor, but for you. Mentioning you are already working with someone ensures that the process keeps running smoothly and you are represented by someone you know you trust.
  • Don’t look at too many houses- the process can already be overwhelming, especially for first time buyers, so keeping the number of homes you look at to a low number will be better for you in the long run.
  • Don’t be shy about what you want- it is easier for your agent to find homes based on the qualities you are looking for instead of presenting you homes that they think you might like.
  • Don’t assume your agent has control over 100% of your file- while they will be in contact with third parties checking on everything for you, after they turn the contract over they have no control over how long the rest of the process will take. Call The Gardner Home Team for advice!

Always remember that buying a home is different for everyone. Things that work for someone else might not work for you. When in doubt, just be open and honest with your realtor and they will make sure the process is as stress free as possible!

 

For additional information on the Do’s and Don’ts of purchasing a home, contact The Gardner Home Team at 918-430-8247.

What’s New In Owasso?

Check out this article from the Tulsa World! Staying informed on what’s going on in your neighborhood is SO important. Big decisions such as these can determine whether the value of your home goes up or down. We are always here to answer any Real Estate questions you may have! Give us a call today 918.430.8247. #thegardnerhometeam #keepingyouinformed #bhhsandersonproperties #owassoliving #ght

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TULSA AREA PERFECT FOR FIRST TIME HOME BUYERS

In the wake of the housing crisis last decade, homeownership rates declined markedly. In 2005, more than 69 percent of American households owned the home they lived in. Today that rate is just 64 percent. The decline has been especially steep among young homeowners. At the end of 2015, less than 35 percent of adults under the age of 35 owned their home.

It isn’t just mistrust of a volatile market that has driven young adults away from home buying. Mortgage lending practices have been tightened since the crisis, which means young people with shorter credit histories may find it harder to get a mortgage.

Another problem is affordability. Prices have now rebounded beyond their prerecession peaks, while wages in much of the country have not shown the same growth. That can make it hard for some would-be homeowners to afford an adequate down-payment or monthly mortgage payments.

According to Mr. Wallace the challenges for first time buyers are even greater in the west coast and northeastern parts of the country. He also mentions “mortgage accessibility varies greatly depending on location”.

In conducting their survey SmartAsset looked at a number of variables like “affordability, mortgage availability, and the stability of the housing market” in all cities over 300,000 people nation wide. They looked at HUD-approved lenders, price per square foot of homes, and the ever changing price over the last 5 years.

SmartAsset found Tulsa to be a more affordable city for first time homebuyers among other cities like Oklahoma City, Dallas, and Indianapolis.

Tulsa is a smaller and somewhat more affordable market than Oklahoma City. While it has fewer mortgage lenders than the Oklahoma capital (54 as compared with 75) the price of property is lower. The price per square foot in Tulsa is $71.83, fifth lowest of America’s largest cities.

For first time home buyers and young families that may not want to live in Tulsa proper with it’s small lots and busy streets Owasso is an area to consider. As one of the fastest growing communities in the nation with highly rated schools, low crime rates, and a thriving shopping and restaurant district just minutes from Tulsa Owasso blends the beauty and open spaces of rural life with the excitement and conveniences of urban living.

Owasso offers different neighborhoods from the eco-friendly luxury community of Stone Canyon and gated communities such as Clear Brook and Dover Pond to the more economical neighborhoods of Maple Glen, Coffee Creek, and The Ridge. These friendly neighborhoods with move in ready homes or lots to build a custom home offer prices from $150,000 to $1.5 million and beyond. No matter the budget there is a neighborhood for you in Owasso.

The Gardner Home Team can help guide your search for a home in one of the “best cities for first time home buyers”. Call them today to start “Owasso Living”.

For SmartAsset’s complete article click here.

 

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