HOME BUYING OBSTACLES & WANTS VS. NEEDS
If you are a 1st time buyer or a buyer entering back into a new market there are a few factors you will need to overcome.
First is sticker shock. If you have not bought a home in a while or ever you may have misconceptions of how much a home should cost compared to what it actually does cost. When you add certain areas or amenities you can quickly be priced well over your price range. To remedy this: 1st sit down with a loan officer to come up with the payment & sales price that you will be most comfortable paying & the loan officer will then associate the payment with a sales price range you will qualify for. The loan officer will need to send your agent a pre approval letter with these amounts & the type of financing & loan amounts listed. This is important to the home search because certain houses sell with certain loan types. If you're looking at fixers and repos that need lots of work then you may not normally use regular VA or FHA financing. You may need a specialty loan. If you need closing cost assist then you probably need to stay away from short sales or bank owned properties....... 
The next obstacle is to assess your Wants vs. Needs. When trying to stick to a budget sometimes you may need to give up unnecessary amenities. You may want a 2 car garage but you may really only need a 1 car garage. You may want a 4bedroom but only need a 3bedroom. You may want a single family home but you nay need to consider a townhome based on your budget. The list can go on and on. To live in a certain school district you may need to cut back on the size or amenities in the house to find something in your price range. To find a larger home or just to have more choices you may need to consider homes in different areas or cities. Complete a list of Wants vs. Needs and present it to the agent so we can help you narrow things down to find the perfect home for you.
The third obstacle is Action. Like with anything you must act to do. You must contact an agent, you must contact a loan officer and complete the actions required to get a loan. You can't think about, meditate or pray about it. You need to act. In some cases you may need to act really quickly. Real Estate is a fast moving process. Your best bet is to preplan with your agent and loan officer in order to insure a smooth transaction.
SO GET OFF YOUR DUFF AND GET TO WORK!
For help buying or selling a home in the Hampton Roads Areas: Chesapeake, Suffolk, Virginia Beach, Hampton, Norfolk, Newport News, or Portsmouth. Contact Dee Dee Jones Wainwright Real Estate http://www.DJonesSellsHomes.com
"I can dream alone, build alone and strive alone, but true success always requires the help and support of others. Please send me your referrals."
Visit my website today, The Hampton Roads Real Estate Lady! Deandrea "Dee Dee" Jones
