Hey, all I want to thank you for joining me on "Ask Angela" today I'd like to discuss three things to consider when choosing your home, of course, they're not the only three things but they are three very important things.
1.first things up you want to consider who you're purchasing the home with is it a significant other family members maybe it's friends you want to sit down and have a conversation with those individuals you all want to discuss what your wants are you must have and very importantly your deal-breakers those three things will help to alleviate some uncertainty moving forward or even some hard feelings that occurs sometimes like you don't want one person to feel like someone else's must-have your wants are more important than theirs and the way to do that is to definitely have a conversation because the truth is you guys may have to compromise if someone has a must-have of a pool and someone definitely doesn't want a pool or compromise will have to be made because there's no way to do them both in the purchase of one home so have that conversation have it early and I promise you it'll make things a little bit smoother moving forward.
2. On my list is going to be location, location is important for multiple reasons so let's just talk about a few of them one of the biggest ones is for people that's still in the workforce .so are you traveling to and from the city are you going to be taking the train are you gonna park at the train station are you gonna take an uber in which case you need to budget and know what that's gonna cost you that's just one aspect what about in terms of proximity to stores or maybe you want to be close to a parliament or even the beach maybe you want to live in a beach community these are things you want to think about and also discuss actually. when you are considering where you're purchasing your home what helps with location is also to travel that location or drive by the neighborhoods that you're thinking about purchasing in to know how close they are to things that may be very important to you.
3.So number three on my list is budget by no means is this definitely number three on the list actually it is number one there's a couple of things you have to consider in terms of your out-of-pocket costs so your down payment clause and your closing costs are your two Biggie's they are not the only ones but they are the major ones and it will probably make up about 90% of your out-of-pocket cost one thing that will definitely help you with this is your pre-approval knowing exactly what the bank is going to lend you knowing exactly what your percentage is in terms of your down payment cost or in terms of your minimum down payment costs because even if your down payment is saved 30,000 that's just your minimum you're welcome to put down as much as you like your closing costs can be estimated out the best way to do this is by having a property but if you have some sort of price range you're a bank or your banker will be able to estimate some sort of cost within a reasonable range for you.
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