Ready to buy your first home in Louisville in 2022? Metts Group specialize in helping first-time home buyers like you find their dream property in Louisville, Ky.
Before you start searching for homes online, it's important to take the first step to house shopping: Getting pre-approved for a mortgage.
Your pre-approval will tell you what you can afford and what your monthly payment will be, so it's important to determine this before you start searching for your new home.
Pre-approval is good for about 30-90 days, so once you're ready, take these first 3 steps to get it done.
- Contact us, and I’ll send over a list of lenders I know and trust.
- Look over the list, check out online reviews, and ask friends and family for referrals.
- Email 2-3 lenders you like or let me introduce you over email.
Once you've got your pre-approval letter in hand, it's time to start the search!
Before we hop into the home search, I like to advise my clients to create a "Needs" list and a "Wants" list. This will help us to really focus on the things that are most important in your future home.
Needs are the non-negotiable features; the features you simply must have in your next home. Wants are the ones you’d like to have, but you can add or change down the road. Remember, you can’t change the lot or the location so make sure you love both.
Once you've established what you're looking for, I will set you up on a search so you can receive an email the second a home that fits your criteria goes live. If you have any questions about a property, send me the information and I will find out for you. Send me listings you like and I can get more information and set up showings on your behalf.
After touring houses and choosing the one you love, it's time to make an offer. To do this, you'll need your pre-approval letter or proof of funds. You'll also...
8 Reasons Why Real Estate is the Best Investment
Real estate has long been considered a solid investment for many reasons. It is a relatively safe and easy way for people to build wealth beginning with a small amount of money. If you are interested in investing in real estate, I’d be happy to help you find the right properties.
Here are some of the ways investing in property can help you build an investment portfolio.
1. Real estate investments can provide you with a reliable and steady cash flow. Investing in rental properties is relatively easy as expenses are predictable and if your properties remain occupied you know what to expect in terms of profit margin.
2. Real estate appreciates in value. Real estate consistently appreciates, even during economic downturns, making it one of the more reliable investments. On average, real estate in the US appreciates between 3-5% annually.
3. Real estate investments help you retire. If you have been paying on your mortgage throughout your working years, you will experience greater cash flow as you near the end of your mortgage term and the principal is paid off.
4. Real estate sales are taxed at a lower rate than other income. When you sell your property, you are taxed short- or long-term capital gains which are usually lower than income tax brackets.
5. Real estate equity can be leveraged. One of the most attractive reasons for investing in real estate is the ability to leverage your money. When you take out a mortgage to purchase property you reduce the amount of capital required. As you build up equity in the property, you borrow against the equity or refinance the original loan, freeing up cash to buy another property.
6. You have control to improve upon your asset. Unlike an...
Do you hope to be purchasing a home in the next year or two? It’s important to start preparing for your first home purchase as far in advance as possible. Here are 3 things to check off your to-do before stalking homes online for hours.
Meet with a real estate agent
Meet with an agent and ask them to explain the home buying process to you, step by step. You can read articles on this all day, but having a professional who does this everyday walk you through what it looks like is extremely beneficial. (P.S. Ask me – I’d love to meet for coffee and go over the process.)
Talk to a lender
After talking with an agent, you’ll want to speak with a lender as well. Your agent will be able to refer you to someone, or you can find someone on your own. The lender will help you understand your qualifications and what you can afford now. They will help you to get your finances in order and get you on track to be able to afford your dream home when you are ready.
Build up your credit and savings
Your lender will tell you this, but it’s important to start building up your credit and savings so you can get the best deal on a loan possible. The higher the credit score and the more money you can put down, the better.
Not sure where to begin? Give us a call 502-694-0523 and we can meet up to discuss the process, I can help answer any questions you may have.
Where are the Fish Fry's in Louisville you ask! Louisville loves fish fry events for Lent. There are many churches and organizations around town that have lunch and dinner fish frys. Check out the link below to find your favorite!