Buying a new home takes a lot of preparation. Without knowing what you are walking in to, you are bound to run into road blocks. A good Thomasville real estate agent can help you understand the intricacies involved in purchasing your new home. Some of the most common problems that buyers run into are avoidable.

Buying the Best is Nice… but

If you’re looking at the most expensive house in the neighborhood, in the city or in the state, you’re asking for problems.  The chance that it will go down in value, be difficult to make payments on if anything changes in your lifestyle, or be hard to sell in the event of a foreclosure is high, which makes it tough to get a mortgage.

If you must have the most expensive home, pay the most you can as a down payment.  That will lower the risk and make it more likely your loan will be approved.  If you can’t afford a big down payment, you’re probably looking at a formidable roadblock to a loan.

Being Unprepared

Walking into a mortgage lender unprepared is like shooting yourself in the foot. Have your financial information in hand. If there are any problems with your credit, be prepared to explain them. Have a good budget including the estimated new mortgage to show you can handle the loan.  Think like a Boy Scout and be prepared.

Not Taking All Costs into Consideration

A big mistake many prospective home buyers make is not realizing there are many costs associated with buying Thomasville real estate besides just a new mortgage. There are closing costs, legal costs, insurance costs, property taxes and deed and recording fees.   All of these have an impact on your wallet and most need to be paid at closing.

Want to know more about how to prepare to purchase Thomasville real estate?  We’d be happy to walk you through the entire process.  Give First Thomasville Realty a call today at 229-226-6515 or email us at info@FTRealty.com .

Searching for the right home takes time and patience. Before you start looking at Thomasville homes on the market, you need to know exactly what you want in your new home.

Create a list of the features you want in your new home, so you make the most of your time by looking only at Thomasville homes that meet your criteria. Here is a quick guide to help you create a checklist:

1.    Must Have. These are deal breakers; features that you cannot live without. Do you need a certain number of bedrooms? Do you work from home and need an office, or maybe even an outside entrance to your home office? Perhaps you have small children or large dogs and need a fenced yard. Decide now what you must have in your new home.

2.    Like to Have. Features you would “like to have” are those you prefer but are willing to sacrifice if the home is perfect otherwise. Maybe you’ve always dreamed of having your own swimming pool or cathedral ceilings or an oversized garage. Include on this list whatever you would like to have in your new home, as long as it doesn’t take away something from the “must have” list or go over your price range for Thomasville homes.

3.    Can live without. Some features just aren’t as important as others. Knowing what you don’t really care about can help you stay focused on what really matters to you. Add to this list home features that aren’t important. If no one in your home ever takes a bath, you may not care if you have a whirlpool tub. Perhaps you don’t really want to take care of an oversized yard, so lot size many not be important to you.

Once you have your checklist compiled, share it with your real estate agent.  It’ll speed up your home buying process, reduce time and frustration and get you in a home you’ll adore. 

Let First Thomasville Realty help you find your dream home. Call us today at 229-226-6515 or email info@FTRealty.com  for more information.

Buying Thomasville homes can be scary, especially for first-time buyers. One of the things that makes it scary is that the home buyers have to make a lot of decisions.   

Both first-time home buyers and veteran buyers have to make decisions about whether to buy new or pre-owned Thomasville homes. Which is right for you? Well, that depends on your particular situation, but knowing some of the differences between the two will help you make the best decision. 

Home Warranties:  New Homes vs. Pre-Owned Homes 

Home warranties vary, but essentially cover mechanical breakdowns, such as furnace failures and clogged pipes, not usually covered by home insurance. 

♦    New Homes:  For new homes, the warranty begins from the moment you close the deal. Normally, appliances have a years’ warranty, which can be extended. As well, the builder’s warranty covers things such as structural or roofing systems.  However, new home warranties are precise about what they cover. For instance, if you have a bunch of kids and a couple of animals, you’ll have a hard time saying the carpet should be covered if it starts pulling up.

♦    Pre-Owned Homes:  With pre-owned homes, you have the option to negotiate on the warranty and what it covers. It could cover appliances, the air conditioning system, dishwasher or any home component.  However, if you end up with a shady seller who cosmetically covered up mold (for instance) and you don’t know there’s a mold problem, the warranty may not cover it. Note: this is one of the reasons I always say, “Get a home inspection before buying.” 

Out of Pocket Costs:  New Homes vs. Pre-Owned Homes 

♦    New Homes:  Developers often offer home buying incentives to close the deal. In slow markets, they may add bonus cash incentives, upgrades or other things to entice you. However, if the market picks up, developers may reduce those incentives. Rather than offering you a dishwasher and other appliances for free, developers may charge you a premium for them.  Another big out of pocket expense to keep in mind is landscaping.  It’s an expensive proposition today for the cost-conscious home builder.

♦    Pre-Owned Homes:  Landscaping is a big plus to buying a previously owned home. Mature trees, hearty shrubs, rose bushes and lush well-watered lawns are some of the rewards of a pre-owned home.  Additionally, very seldom do the sellers take their dishwasher and other appliances with them when they move. You also have the ability to negotiate with the sellers about furniture and other amenities. However, you don’t always know the condition of these amenities. They may end up costing you more on upkeep than if you had just bought new appliances. 

Whether you’re looking at new or pre-owned Thomasville homes, We can help. Call First Thomasville Realty at 229-226-6515 or email us at info@FTRealty.com  for more information.

If you’ve thought about buying a Thomasville home for sale, you have to be wondering, “Is it ever going to be a good idea?” I understand; there’s an endless stream of media pouring out bad housing news. It’s discouraging to say the least if you’re a homebuyer or a home seller. 

Yet, the problem with the news from the home buying standpoint is that it focuses on profit. The media says, “You can’t make a profit from buying a home.” They talk about prices dropping and more homes hitting the market, among other things. What they miss, however, are the real reasons most people buy a Thomasville home for sale. 

It’s your home. Period.

You can do what you want with it. You don’t have to worry about whether painting a mural on the wall will get you an increase in rent. You don’t have to deal with the noisy people who just moved into the apartment above you, who obviously brought a zoo because something’s pounding on your ceiling all the time. You can paint the walls black and nobody can say “Boo” about it, because it’s your home. 

Fixed-rate mortgages stay put.

Unlike rent, which can go up and up and up, fixed-rate mortgage loans stay the same. They work exactly like they sound; the rate you start at when you buy your Thomasville home for sale is the rate you end at when you finish paying off your mortgage. 

You can eventually stop paying out.

Rent will always be owed. At no time in the future will your landlord say, “You’ve paid enough rent. You don’t have to pay anymore.” Mortgages, however, will eventually be paid off. Therefore, while renters pay for 15 years and then must continue to pay, homeowners, who have a 15-year mortgage, can pay for 15 years and then stop. 

It’s your castle.

Nobody owns it but you. There’s a certain pride to owning a home that far outweighs profit. The excitement from making a profit, however small or large, is a fleeting, momentary thing. When you buy a Thomasville home for sale, you’re buying a castle – a safe haven where you can get away from the world; a place where you can relax and be comfortable. 

If you’re ready to find your castle,we can help. Call First Thomasville Realty at 229-226-6515 or email us at info@FTRealty.com  for more information.

You know you’re going to pay a mortgage for however many years once you sign the paper on a Thomasville home. You know your agent is going to get paid for the absolutely wonderful, fantabulous (put extra descriptive here) job he or she did to help you find the home of your dreams. What you may not be expecting, however, are the closing costs. 

The saying goes “nothing’s guaranteed except death and taxes,” but you can add “closing costs” in there. Now, I’m sure the mortgage was expected, and you don’t mind your agent earning a bit, but what the heck is this “closing cost” business? While the government forms explain them, they might as well have been written in chicken scratches; government lingo has never been exactly easy to understand. 

Be Prepared to Pay

“Closing costs” is a catch all term for all the expenses that wouldn’t fit under a convenient title like “mortgage.” Be prepared, because they can range anywhere from 3% to 8% of your total loan. For example, if you have a $150,000 loan, your closing costs could be anywhere from an additional $4,500 to $12,000. 

What are you paying for?

Aren’t you already paying for the Thomasville home? What’s with these closing costs? It probably feels like hidden fees, but they aren’t. Here are just a few of the fees you might end up paying, depending on the lender and the circumstances: 

Prorations – The allocation of property taxes, interest, Home Owner Association dues, insurance premiums or rental income between buyer and seller proportionate to time of use.  For example, if the property tax is paid up to a period after you close on the house, the seller might be entitled to reimbursement. 

Appraisal Fee – The fee charged for a written appraisal by a qualified person setting forth an opinion of a property’s fair market value. 

Fire Insurance – Just in case you burn the house down after you buy it, lenders might require you to have a fire insurance policy. 

Purchase Points –  These are known as discount points, or just points, but its more like pay the lender less now or pay the lender more later. Each point costs 1% of your loan amount and reduces your interest rate for the life of your loan (usually by fractions of percentages). Since it can take a few years for the lower payment difference to offset the initial closing cost, paying for points is probably only a good idea if you plan to live in the house for five years or longer.  With interest rates as low as they are now, it may not be a good use of your hard earned income.

The good news is you won’t have to guess what the closing costs are for your new Thomasville home. The lender is required to give you a list of the closing costs and the potential cost of each, so you won’t be completely surprised. 

If you have questions closing costs or any other real estate related questions, We’re happy to help. Call First Thomasville Realty today at 229-226-6515 or email us at info@FTRealty.com .