Tips for First-time Home Buyers

You’ve finally decided to make one of the biggest decisions of your life: buy your first home. Then, a million of questions go flying right at you. What’s the first step? You probably have no idea how the overall purchasing process works. And you’ll probably be very surprised to learn how much work it really is just to buy a home. To get you started in the right direction, and this is just a start, here are a few tips that you should consider.

Get lender-qualified and find a good real estate agent

First things first, you have to get qualified by a lender. Once you’re qualified, your price range estimate at hand, you’ll be able to spend your time shopping in neighborhoods that you can afford. NOTE: Just because the bank says you can qualify for a certain amount, that doesn’t mean you should spend that amount. Make sure you can actually afford the monthly payment, along with all your other bills.

Make sure you plan to be a long-term owner

Once you know your price range and have looked at some properties, it’s time to make sure that you believe you can find a property that you will own for a minimum of five years. If your price range doesn’t match where you want to live, you’d be better off staying a renter and saving some additional money until you can afford where you want to live. This is because an owner really doesn’t earn any equity, on average, in a property for at least five years. 

Educate yourself

Buying property is probably the most complex, riskiest and expensive thing you will ever do. Do your homework: Talk to real estate owners, go to first-time buyer seminars, check out online material and read some books to learn what to avoid in the buying process. The more you educate yourself, the better the chances that when things go wrong -- and they will go wrong -- they will only be minor issues, not major headaches.

Find a nice affordable property

The real gems in real estate are the nice, decent shape, moderately priced, boring houses, town homes and condominiums that are within your budget. Most buyers stretch to purchase the most expensive property they can afford. What if you lose your job? How about saving some of your money for retirement? You want your home to be an asset you can afford, not a liability that leaves you with no additional funds over the cost of homeownership. Also, skip the fixers, prize properties or anything that sounds too good to be true: Those always end up having issues, and owners realize, after the fact, that the deal they thought they were getting really was just too good to be true!

Take your time

Realistically it should take you six months or longer to buy a nice quality property that will add to your long-term wealth. Make sure you have a full understanding of what the marketplace has to offer in your price range and that you know what you’re doing.

Source: foxnews.com

Do you want to work with a Realtor who never fails to provide his clients about pertinent Real Estate information, market trends, tips and what-to-dos?  Call me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the subdivisions of Rosemary Hills, Rock Creek Forest, East Bethesda and Whitehall Condominium.

Mold Prevention and Control

This posting is from one of my homes inspectors. Mold is a concern from my first-time home buyers to my seasoned sellers. I hope it's not a problem for any of you, but just in case...

Mold is a common occurrence in homes, but it can potentially cause health problems as well as damage to structures and surfaces if it is not controlled. Mold begins growing indoors when spores come in contact with wet surfaces or substances. Once established, mold can be very difficult to remove successfully - so prevention is the key.

MOLD PREVENTION
Mold cannot grow in the absence of moisture. Moisture can take the form of leaks, spills, condensation, and humidity, so controlling sources of moisture is the most important step in mold prevention. Here are some ways to avoid creating conditions in which mold will thrive:

• Look for signs of leaks in supply and waste lines for bathrooms, kitchens, utility sinks, and laundry areas. Have any leaks fixed and dry the area thoroughly.
• Check the condition of grout and tile on shower walls, floors, and around bathtubs. Repair damaged grout, and seal it to prevent mold from being absorbed.
• Increase ventilation to the outside by using exhaust fans, attic ventilation.
• Regularly empty and clean drain pans and hoses for air conditioning units and dehumidifiers.
• Check for roof leaks that allow water to enter attic spaces or build up under roof shingles.
• If possible, lower the overall humidity in the home to decrease condensation and create a less mold-friendly environment.

Places that tend to stay damp, such as showers, may be more difficult to keep entirely free of mold but it can be minimized. Diligent cleaning, opening a window or using a ventilation fan are often enough to keep mold at bay.

MOLD REMOVAL
Once mold has become established in the home it can be difficult to eradicate. Depending on the location and severity of the mold problem, a homeowner may need to engage a professional certified in mold remediation to remove it. A qualified professional will also take preventive measures to lessen the likelihood of recurrences.


If you ever feel that mold is an issue, please feel free to contact me and I'll put you in touch with one of my preferred vendors...and as always, if you are in looking to buy or sell a home, please feel free to contact me, Mynor Herrera, at 301-437-1622. I would certainly welcome the opportunity to earn your business.

First Time Home Buyer Seminar

You’re invited to learn about all the benefits of being a first time home buyer in the MD, DC, and VA area. Come and join us at this free seminar!  Space is limited, so reserve you place now.

DATE:   Saturday, February 19

TIME:    11:00 a.m. – Noon

PLACE:  Weichert, Realtors Bethesda Chevy Chase 
             Office, 7200 Wisconsin Avenue

            (Corner of Wisconsin & Bethesda Avenues;
              former Montgomery Grill)

             Free parking behind Farmer’s Market