Do You Want To Buy Your First Minnesota Home?
"Yes Alex, I want you to help me to find the perfect-home - and avoid the costly and |
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"Tell Me About Your *Dream-Home* Below ~ Alex Anderson - Dream Home Specialist |
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Why It's So Important To Find |
When you move into your first place - it can be very exciting. For those who are actually buying their first home - it can be equally frightening. There are many things to learn - and not a lot of time to learn them...
To make this process as easy as possible for yourself - I recommend finding a licensed Minnesota Realtor (someone you trust) sooner than later.
A good Realtor will make all the difference in the world for you in finding (and actually getting) your dream home - this is because we are trained and licensed in knowing all of the little details that you'll need to know to successfully purchase your new home.
Your Realtor should be someone you feel comfortable asking anything because there will be a lot of questions (and some things can be difficult to talk about sometimes) especially if you're uncomfortable discussing "the money" part...
Speaking of funds - the next person you'll want to consider for your team of experts is someone in the financing-industry. It can be a friend or family member (if you know someone) or someone from your local bank or credit union - depending on what you are comfortable with.
Your Realtor can also make good recommendations for you. Once you've selected a lender and given them your information - they'll tell you how much you qualify for (as in a dollar amount or a price range to target).
Make Sure To Tell 'Em That
You're A First-Time Home Buyer!
As a first time buyer you have special one time only access to loan-programs that ONLY first time buyers can get!
Basically the American government wants you to own your own home. The government considers homeowners to be more stable, more grounded and responsible members of society so Uncle Sam makes these programs available to encourage people to buy their first home.
So essentially, these first time buyer programs let you buy $30,000 to $35,000 MORE of a home for the same monthly payment! What a difference this will make for you!
Michael Wilson "I used ReMax as my agent, and purchased my first home in January 2006. Alex was right there with me through every step. Her coaching was invaluable, without a doubt, and I must honestly say that, if it wasn't for her being there right with me through the entire process, I would have backed out of my home purchase, without a doubt. She was right there encouraging me to stick with it, and keep focused on my dream. I now have a home I love,
and I have the future of financial freedom
to look forward to. If you are looking for
the best coach for purchasing your first
home, or for securing your 15th rental
property, Alex is the one!"
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What Kind Of Home |
Now that you've got your target price-range - you're ready to look at homes that are for sale. Consider the kind of place you'd like to live in - your primary options are:
- A Single Family Home
- A Town Home
- A Condo
- Plexes (Duplex, Triplex, Quad)
Consider the pros and cons of each - and if you're still unsure - have your Realtor take you to see some of each to compare...
Here is a brief explanation of each type of dwelling:
Single Family Home
You own the home (the structure) and the land around it.
You must be able to care for the yard or hire someone to do it for you (i.e. mow, prune, shovel, etc.). Doing it yourself can be fun and rewarding - but keep in mind you will have additional purchases to make such as; a lawn-mower, a trimmer, a shovel and/or a snow-blower (for these Minnesota winters!). Also with a single family home there are no pet-restrictions except whatever the city ordinances dictate.
Town-Houses
When you own a town-home you live in a community of town-homes - often attached to one or more other units (that share one or more common wall) and pay an "association fee" which covers the care of common grounds. Different communities have different "by-laws" (often including pet restrictions) and different facilities.
Condominiums
In general condo-units are not only attached side by side, but on top of each other as well. Usually - they will either be low-rise (3 stories or lower), or high-rise (4 stories or higher), although there are other distinctions as well.
Similarly to town-houses - there's an association fee for the maintenance and care of common grounds and facilities. The more facilities (garage, pool, exercise facilities etc.) the higher the association fee tends to be. And pet restrictions are common (i.e. no cats or no dogs - or there may be a size or breed limit, etc.).
Duplex, Triplex, Quad...
Some first time home buyers prefer to start off buying an investment property (like a duplex, triplex, quad, etc.) that they can live in as well - while renting out the other units to tenants who help to pay down the mortgage. In some cases - having renters can pay for the owner's unit as well - or at least keep payments to a minimum!
The other advantage to this approach - is that when you buy - the tenants' rent is taken into consideration by lenders as additional income. This then gives you even MORE buying-power when you buy a plex.
Also, if you decide to purchase a plex as your first home - when you're ready to buy your next home - you can simply rent out your empty unit (continue to build your equity and get some great tax benefits) all the while your tenants continue to pay off your mortgage for you - as well as possibly even contributing some cash-flow to your new place!
"So, What Does My Realtor Do?" |
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A lot of people mistakenly assume that the only role of their real estate agent is to let them in and out of the properties they're looking at. The TRUTH of the matter is that the "showing part" is only about 1-2 percent of the entire process!
All showings typically require that a licensed-agent be present at each property (to answer any questions you have about the property). And any questions that can't be answered by just looking - that same agent is responsible to call the seller's-agent to get your questions answered ...
Your Realtor also has complete access to the Minnesota MLS listings (whereas the public can only see a very small portion of that information). I use my MLS access to effectively research ALL of the details of potential-properties that fit the profile of my clients' needs...
These details include:
Property Specifics - Location, number of bedrooms and baths, garage stalls and/or parking spots, square footage, acreage, storage, etc.
Comps - "Comparables": homes of similar or same style that have sold within the last 6 months. Comps do NOT include properties that are currently for sale - only those that HAVE sold. This shows what the market will ACTUALLY pay for a particular property.
History - How long the property has been on the market, whether or not the price has been raised or lowered, how many times it's been taken on/off of the market, and what the original purchase-price was (to determine how much equity it may have).
Tax History - What the city values the land and home at, what taxes are charged by the city each year, the school district that it's in, as well as any other owner's information.
Assessments - These are additional city-related costs or levies - often associated with neighborhood projects or updates (like a new sidewalk for example).
Ownership Details - Is it bank/corporate owned, owner occupied, a relocation service (a company is paying a relocation service to sell the property for one of their employees) and whether or not the seller is ALSO the agent.
All of this strategic-information points to the potential motivation of the seller and helps to give you a "buyer's advantage" when your ready to make your offer!
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"Let's Look At Some Homes..." |
...A good Realtor will also manage ALL of the logistics of the showings for you as well. This typically requires NUMEROUS phone calls, emails, and voice-mails to setup (which can be very time-consuming).
I personally feel that this work is all worth it - especially because I'm on a mission to help you to find a home that you absolutely LOVE!
For my clients - I carefully organize and coordinate the showings for several-properties at a time (and map out the entire itinerary) so that they can all be seen within that given time period. Then we usually ride around together in my Ford Explorer (or you can follow in your own vehicle) while I drive you from property to property - so you can see the neighborhood as well.
I strive to make sure that looking at homes is a FUN and RELAXING experience for you! 
"Hi Alex, I just wanted to thank you again for helping us to find such a great deal on our new home! After living 13 years on a busy street in the city, without a dishwashing machine, it's been heavenly waking up every morning with clean dishes and nothing more than trees and deer in my backyard. (See attached photo of the deer) I never thought we could afford such a beautiful place (so close to everything) yet still tucked away in such a nice and quiet neighborhood. You really are a genius when it comes to real estate and we'll be sure to recommend your services to all of our friends. Take care," Donovan Wyatt |
Join My First-Time Home Buyers Club! |
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When you're ready to take the next step towards owning your own home - I welcome you to enroll in my Minnesota First Time Home Buyers Club - by simply filling out the form above.
Taking this step will put you on the FAST-TRACK to getting your new home - and this program is my way of helping to make your experience as enjoyable and stress-free as possible!
When you become a member - not only will I go to work to find you the perfect home - and when your purchase is complete I will also give you a free copy of the book you see above, "How To Operate Your Home" - as a guide to help you to effectively manage and maintain your new home.
This is a very useful book that retails in stores for $24.95 - and I want you to have it absolutely FREE as my way of saying "THANKS" for letting me help you to find the home of your dreams!
Join NOW by filling out the form (at the top of this page) and you will ALSO receive my free email mini-course, "The 7 Steps To Buying Your First Home" - delivered directly to your inbox.
These are the helpful-steps I will send you...
Step 1: Find A Licensed Minnesota Realtor (Duh right? But you'd be surprised)
Step 2: Find A Lender and Get Pre-Qualified (With first-time homebuyer benefits)
Step 3: Look At Homes
Step 4: Schedule A Second Showing
Step 5: Make An Offer
Step 6: Fulfillment Of Contingencies (Not as complicated for you as it sounds)
Step 7: Close On Your New Home!
This free mini-course is an insightful, step-by-step breakdown of the most important things you will NEED to know (and do) to successfully get your first home...
Got Questions? Don't Be Afraid To Ask!
Once you get started shopping around - don't be afraid to ask questions. That's one of your Realtors jobs is to get your questions answered.
Keep in mind that from a psychological perspective - most of us only retain about 20% of all brand new information - so it's okay (even appropriate) to ask the same question more than once. After all - this is completely new territory for you!
You may need to ask the same question several more times until the information sinks in. Remember, this is a LOT of brand new data - it takes time to "digest" it all... Consider taking notes as one more way to help you remember & learn.
Beyond that, just get out there and have some fun with it all - after all - this will be your very own place to call home!
Let me know if there are any questions or concerns that I can answer for you - I'm happy to help.
To Your Success,
Alex Anderson |
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