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LOOKING To Buy Your First Home In Lafayette, LA?

Are you LOOKING to buy your first home in Lafayette, Louisiana or perhaps in greater Acadiana? While shopping for a home can be an exciting time, it can also prove to be exhausting and perhaps even a little intimidating. Your goal is likely to end your search with purchasing a home you love and, perhaps more importantly, one you can afford.LOOKING To Buy Your First Home In Lafayette, LA?

While this may appear fairly simple in theory, many first-time home buyers make devastating mistakes that prevent them from achieving their dream of ownership. So here are a few tips and words of wisdom to help you buy your first home in Lafayette or Acadiana:

1. Know What You Can Afford

What your lender claims you can afford and what amount you are comfortable paying may be completely different figures. Your first task should be to create a realistic budget listing all of your monthly expenses, excluding your rent or lease amounts. Tally what it costs each month to meet your financial obligations. Don't overlook or neglect items such as annual vacation plans or any annual payments you make. This total should be subtracted from your earnings to help you determine what you can afford to spend on your monthly mortgage note.

2. Get Qualified For A Loan

This step works hand-in-hand with Step 1 so sit down with a mortgage lender to determine what amount your financial source is willing to lend you. This is an essential task as the majority of seller's won't entertain an offer to purchase if there is no provision that you qualify for a loan. Further, the amount your lender provides will minimize lost time by helping you focus on viewing only those homes within your budget.

3. Consider ALL Expenses

Home-ownership comes with a price! You will now be responsible for maintaining the property. Under your lease agreement the landlord was likely responsible for repairs and updating the property. That responsibility will now shift to you.

4. Needs Versus Wants

There's nothing wrong with creating an extensive list of what your dream home should contain but it's essential that you remain flexible and focus on your "Needs" list. Other items worth considering when you initiate your search might include commute times to work and access to shopping or other services.

5. See Past Color

Don't allow items that might be practical fixes or items easy to replace to cloud your vision. Out-dated wallpaper patterns, strong colors, worn carpet would fall into this category. If the home meets your needs overall, don't let physical imperfections dissuade you. It is often more practical to purchase the home and perform these changes or upgrades yourself, even if you must hire a contractor, than paying the increased home value to the seller who performs this work.

6. Hire A Professional Inspector

Your home may be the single largest purchase you will make. Don't be "penny-wise and dollar foolish" as the saying goes. Now is NOT the time to cut back and save money. A qualified home inspector will provide you with a complete report on the home's mechanical and physical condition. Protect your potential investment and avoid making a devastating financial mistake by having the home inspected!

7. Enlist i List For Less Realty

Dealing with the seller's agent or buying new construction without a trained real estate expert is irrational. If you are contemplating buying your first home in Lafayette or greater Acadiana, you need someone who represents YOUR interests! Don't tour Open Houses, contact a seller's agent or visit a builder's model home until you have an Agent working on YOUR behalf. i List For Less Realty will answer your questions and guide you through the complexity of home-ownership from start to finish, and remain a vital resource for you long after the sale.

Buying your first home in Lafayette, Louisiana or greater Acadiana can seem stressful and overwhelming, and isn't without its share of potential pitfalls. i List For Less Realty can lessen your worries and allow you to purchase with confidence. Give us a call today.



We set the standard for EXCEPTIONAL SERVICE in Acadiana!


i List For Less Realty is home officed in Lafayette, and services the surrounding communities of Abbeville, Breaux Bridge, Broussard, Carencro, Crowley, New Iberia, Opelousas, Rayne, Scott, Saint Martinville, Sunset, and Youngsville. 

2314 Kaliste Saloom Road, Suite 913, Lafayette, LA 70508-6835
(337) 212-5373

  

E-Mail: Mike@iListForLess.com

 

 

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DISCLAIMER: Mike Mayer and/or i List For Less, LLC disclaims responsibility for any of the content or opinions expressed in this blog, including, but not limited to content or opinions regarding any products or service mentioned. Mike Mayer and/or i List For Less, LLC disclaims liability for any damages or losses, direct or indirect. that may result from the use of, or reliance on, information contained in this blog. This blog may contain links to other web sites operated by third parties. These links are provided as a convenience to access the information contained therein. Mike Mayer and/or i List For Less, LLC disclaims any responsibility for the content of any other sites or the products or services that may be offered on or through those sites. Inclusion of a link to another site does not indicate any endorsement or approval of the site or its content. Mike Mayer and/or i List For Less, LLC reserves the right to edit, remove or deny access to individuals or content that it determines to be unacceptable, including, but not limited to, any illegal, abusive, profane, rude, defamatory, or anonymous comments.

 Copyright © 2011 By Mike Mayer and/or i List For Less, LLC. All Rights Reserved.

Comment balloon 0 commentsMike Mayer • June 21 2011 02:13PM

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