Take the Leap and Purchase Bloomfield Hills Real Estate this Year
Posted in Bloomfield Hills Real Estate by Michigan Real Estate Expert on February 23rd, 2012 Is your family starting to feel cramped in your current house, or are you ready to quit renting and start investing? With the extra day added into this leap year, you have an additional 24 hours this month to decide if you’re ready to take a big jump and purchase Bloomfield Hills real estate.
Not sure how to decide if this is the year? Whether you’re a property-purchasing pro or a first-time home buyer, take a look at the three points below to determine if you’re prepared to take the leap and invest big.
- You have a sizeable down payment. Knowing what you can actually afford is half the battle. A good estimate is to triple your household income, and that will roughly be what you’ll want to spend. Whatever you’ve saved as a down payment can go on top of that or, if you’re frugal, can just be used to reduce your monthly payments. The larger the down payment you have, the smaller your mortgage payments will be, and it could possibly get you a better interest rate.
- You have a good real estate agent. It’s important to find a trustworthy, competent agent before you find your dream house. Take the time to thoroughly interview agents and get referrals. You’ll want to make sure you have someone who is knowledgeable about the Bloomfield Hills real estate market to help you make one of the biggest decisions of your life.
- You have a brag-worthy credit score. Strike while the iron is hot! If you’ve taken the time to build up and ensure a great credit score, use your good standing to take advantage of today’s low interest rates.
If you meet all three qualifications, consider taking advantage of this month’s extra day, as well as the low interest rates and home prices, and leap into a new home. Please call me at 248-514-2640 or email me at info@NorthWoodwardHomes.com if you have questions concerning your credit score and down payment, or want to work with a knowledgeable Bloomfield Hills real estate agent.
Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney
RE/MAX Showcase Homes, Birmingham, Michigan
Call: 248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com
