Buying a home can be one of your most significant investments in life. Not only are you choosing your dwelling place, and the place where you will bring up your family, you are most likely investing a large portion of your assets into this venture. The more prepared you are at the outset, the less overwhelming and chaotic the buying process will be. The goal of this page is to provide you with information to assist you in making an intelligent and informed decision. Remember, if you have any questions about the process, I'm only a phone call or email away!
If you already have a good idea of what you are looking for in your ideal property or you're just starting to figure it out, here is some good news. Whether it's a 4 bedroom single family home on 3 acres or a luxurious studio condo in a downtown area, it is out there! There are always plenty of homes coming on the market and I can assure you that your dream home does exist and I will help you find it.
What's important for you to be around? There are many things you will consider when deciding to move to a new area. In Lake County, IL all of the communities are unique and provide their own resources that you will get to experience. When we start looking, I will provide you with detailed area reports which highlight the proximity to local businesses, transportation, outdoor activities, schools and much more. Finding an area that matches your needs is one of the most fun and enjoyable parts of shopping for a new home.
Once you have found your new property it's time to get a home inspection. Inspections are designed to help you understand the overall condition of a property, potentially saving you considerable time with the purchase process and hundreds or thousands of dollars in repairs. Obtaining the proper inspections for a home prior to purchase is one of the best ways to make a smart purchase decision and protect your investment.
As you start shopping for a home loan, your first question of each lender will probably be "What's your interest rate? How much are you charging?" Interest rates are usually expressed as an annual percentage of the amount borrowed. If you borrowed $120,000 at 10% interest, you'd owe interest of $12,000 for the first year. With most mortgage plans you'd pay it at the rate of $1,000 a month. You would also send in something each month to reduce the principal debt you owe - and the next month you'd owe a bit less interest.
Rates dropped gradually through the 1990s, and by the2000's had reached their lowest levels in decades. Continuing into the millennium, home buyers appear to have the very favorable conditions for mortgage borrowing.