Hilda Gonzalez
Realty Executives Midwest
We create a wedding registry and ask family and friends to help us get what we need to start our new married life. We also create a new baby registry and ask for items that we need to welcome the new baby. Why not do a "Home Buying Registry"? Build a “registry to buy your first home”. I'm sure family and friends will donate whatever amount they can afford...they will also give you advice, and cash you need to purchase a home. Not sure where to start? First decide where and what you want, home or condo? Location, city or suburbs. Find out what you can afford based on your salary and the assistance of a loan originator. Let your family and friends know you just need help for the downpayment. Get inspired by some suggestions below.
Start with getting the guidance of a professional real estate agent. It makes a big difference between paying too much or the right price. The agent you hire will help you with the following:
Find a loan originator with trusted institutions and inquire about downpayment grant, America’s Home Grant, and Affordable Loan Solution.
Get prequalified to know how much you can afford.
Write down all the things you want in a home and share your requirements with the real estate professional. Keep in mind a condo or townhouse usually have HOA fees which add to your expenses.
Where do you want to buy...close to work, friends or family? Do you need public transportation such as a buss or train?
What are your must haves and what are your deal breakers? Do you want a quiet place? or do you want to be within walking distance to restaurants and coffee shops? How many bedroom and bathrooms do you need? Do you need a garage, a yard, or a basement?
Your agent has access to Multiple Listing Service (MLS) and can help you find what you're looking for within your budget.
Start a registry with your family and close friends...just the way you would when you’re getting married or having a baby. Ask relatives to donate towards your home purchase. Before you know it, you will have a downpayment as you get closer to finding your home.
Keep all contributions in a dedicated savings account where your funds can earn interest and stay separate from everyday spending.
Paid Content for Bank of America, Article “The Modern Parent Registry”. Parents Magazine.
