So, you’re ready to take the leap and buy your first home. You’ve probably heard pieces of advice from friends and relatives, but purchasing a house is kind of like owning one: you need to get all the details under one roof. We asked two real estate agents for their best tips for minimizing anxiety while maximizing results.
Tony Arvanitis
Allynn James Real Estate Group
5763 Talmadge Rd.
419-843-4337.
allynnjames.com/toledo
For almost 30 years, Tony Arvanitis has worked as a commercial realtor, but began to focus on helping the buyers as a Residential Realtor in February 2006. Not only does Arvanitis understand the legal differences between commercial and residential transactions, but he also understands the emotions at play.
Here are some of his tips on minimizing
the anxiety felt by first-time home buyers:
Work with a realtor that you are comfortable with. Not all real estate agents are the same. A buyer’s agent represents someone purchasing a home, and a seller’s agent is responsible for the sale of the home. While any realtor can find and show you a property available for sale, the listing agent, who’s name is on the for sale sign, would be a dual agent that maintains a neutral position in the transaction.
Make sure you are pre-approved by a lender. Consider working with a mortgage company, instead of a bank, to access more financing options. Ask your lender if you qualify for a $500 down payment OFHA loan (Ohio Financing Housing Authority).
Pick and choose title companies. Title companies are competitive in their rates and you have the right to choose a title company for a quote on closing costs. You can also save money by closing near the end of the month.
Inspect the home. This is a must. Ask your realtor for help finding a qualified inspector and make sure to get quotes for both home and pest inspection.
Trust your realtor. Your realtor will have the most accurate information about value and availability, as opposed to websites like Zillow and Trulia, which are often inaccurate.
Bradley Hughes
Principal of Evolve Insurance Consultants
6800 W. Central Ave.
419-517-9895.
Evolveinsure.com
When buying your first home, homeowners insurance shouldn’t be just an item on your loan closing checklist. Taking the time now to research and educate yourself can save you some stress down the line.
Here are some things to consider when purchasing homeowners insurance:
Credit Matters. A good credit rating can score you a better premium. Fix any mistakes on your report before you shop for a home.
Package Policies. Merge your auto and home with the same provider and you can save money.
Calculate Risks. The swimming pool may sound appealing, but it can affect your premium. Knowing risks in advance can help narrow down potential homes.
Quality. This is likely your biggest investment ever, protect it with quality coverage – not just the cheapest.
Know Your Policy. Reading the fine print will save you out of pocket in the long run. Wind damage, flooding and jewelry are typical riders to a policy that you should investigate.
Don’t Get Disracted By Excitement. While buying your first home is an exciting time, it’s also a time when things are overlooked due to information overload. Appraisals, inspections and negotiations can take over the process and insurance can sometimes become an afterthought. Taking the time to know your policy can help ensure that your home and your investment is protected for the long run. Evolve Insurance feels it is important to be with you throughout the process and we want to help you at every stage – before and after closing. Contact me today at 419-517-9895 to help you insure your dream home!
