The Home Buying Process Step 4 - The Property Search

Want to know the most exciting part of the journey to homeownership? Follow me as we discuss Step # 4 of the Home Buying Process – The Home Search.

Congratulations you have made it past the halfway mark to buying a home.

Steps To Purchasing A Home

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Documentation needed for loan pre-approval:

+ 2 recent bank statements

+ 2 recent paystubs

+ Last 2 years W2’s and possibly tax returns

+ Copy of your drivers license

CLICK PLAY

The Home Buying Process – Finding The Right Property

What is important to you as you consider purchasing a home?

Is it the number of bedrooms?

Maybe it is the size, look, and feel of a kitchen?

The back yard?

How about the neighborhood, schools, location…?

Here in Step # 4 of the home buying process, you will enjoy spending time with your real estate agent looking for properties that meet the needs of you and your family.

By making it this far you have an idea of how much you could qualify for, an estimated monthly payment, as well as an idea of how much money you will need to complete the transaction.

Now you are ready to complete this step by teaming up with your realtor.

Common First Time Home Buyer Mistake:

Imagine you are at an airport preparing to leave for a 2 week vacation.

You have two 45 pound suitcases and have to catch a flight in less than 10 minutes.

Rushing through the terminal you approach the longest flight of stairs you have ever seen.

Your flight departs from the second level in T-minus 7 minutes…

Beside this never-ending flight of stairs is an escalator.

Your options are to climb the stairs with ninety pounds of extra luggage or simply allow the escalator to do the hard work for you.

Which do you choose?

If you picked an escalator this information is for you.

If you picked the stairs, keep climbing. You have missed your flight but may catch the next one.

The “Home Ownership Wealth Escalator”.

Are you a first time home buyer?

If this is your first time purchasing a home or even your 2nd or 3rd time allow me to introduce you to a little known wealth strategy.

Viewing the property as a place to live as you walk through step # 4 of the home buying process may ultimately cost you thousands of dollars.

Where do you want to be financially in 2 years, 5 years, 10 years or even into retirement?

Are you interested in a strategy that will have other people making your mortgage payment for you during retirement?

This same strategy is practiced by almost every successful investor on the planet.

Is building generational wealth that you can share with your children, grandchildren, or even great-grandchildren something you would consider?

A common mistake most first time and even repeat home buyers make is viewing the house as a place to live rather than an investment into theirs and their families future.

During my hassle-free home buying consultation, we will discuss how much money you can expect to earn in appreciation.

This will allow you to make an educated decision as to which property will provide you the best return on your investment (ROI).

Consider this example…

You have made the wise decision to purchase your first home.

You have found a home that meets your needs PLUS it is in a popular location allowing you to rent it out in the future.

The sales price is is $400k and because this is your first time you only have to put 3% down.

The Home Buying Process And Appreciation

Let’s look at the illustration below.

As a first time home buyer, your minimum downpayment on a conventional loan is 3%

Let’s assume that you are purchasing a $400k home in the DC Metro area.

Closing costs can be around $9k and we will look 5 years out to see what you may earn as your property appreciates in value.

Looking out 5 years your property could be worth between $470,648 using forecasted appreciation or $505,428 if looking at the historical appreciation.

Could you earn $70,648 – $105,428 paying rent for 5 years?

Now let’s deduct the $9,000 you paid in closing costs and you have earned $61,648 – $96,428 in a 5 year period.

All you have to do is make your payments on time!

Your return on investment is staggering.

Where else are you able to grow wealth like this?

👉Want to see how much you may qualify for? 👈

Let’s get started with my hassle-free pre-qualification process today.

Have additional questions and want answers? CLICK HERE to find a time on my calendar that works for you.

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🔷Home Loans In Virginia And Maryland🔷

Rod Ferrier is a licensed loan originator in Virginia and Maryland.

A U.S. Navy Veteran, father of four, he began his career as a loan officer in 2002.

He specializes in assisting his clients to navigate the home buying process towards homeownership.

His clients include Veterans, first time home buyers, families looking to purchase a bigger home, as well as empty-nesters seeking to downsize.

Rod’s background in financial planning provides his clients with the opportunity to benefit from the wealth created by strategically purchasing the right home.

The Home Buying Process Step 4 – The Property Search

Steps To Purchasing A Home

Documentation needed for loan pre-approval:

The “Home Ownership Wealth Escalator”.

The Home Buying Process And Appreciation

🔷Home Loans In Virginia And Maryland🔷

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