Buying a house from 18 Real Esate Concepts LLC is as easy as 1-2-3. Browse our list of home for sale and find your brand new home immediately
A very important step in the home buying process is to get pre-qualified for a mortgage: This will give us an idea of the price range that you can afford so that we can go out and find the best deal on a home that is right for you.
18 Real Estate Concepts, LLC has great homes waiting for you. Getting pre-qualified will require that you provide a lender with some basic information about your income, assets, and debt. We can arrange to have this done for you at no cost.
Why Do You Want to Buy a Home?
Purchasing a home is a lifestyle choice that requires you to think about where you would like to live, the type of community
you want to live in such as a rural area without nearby neighbors, a high-rise building in a city or a home within a planned community with recreational amenities. The more you understand your priorities for a home, the easier it will be for you to narrow your real estate decisions.Home ownership can also be a powerful avenue to increase your personal wealth for you and your family, since you’ll be building equity
in your home as you pay off your mortgage.Are Your Finances Ready for Home ownership?
While your dream home may not be within your reach right away, you can take steps to become a homeowner the moment you earn your first paycheck.
In order to qualify for a mortgage to buy a home, you’ll need good credit, a pattern of paying your bills on time while still saving money and a maximum debt-to-income ratio—your gross monthly income compared to the minimum payments on all recurring debts—of 43% or less. Some lenders have stricter guidelines, so the lower your debt-to-income ratio, the better your chances of a loan approval.
While loan programs are available with low down payments of 3.5% to 5%—and a few programs offer no down payment at all you will still need some savings to pay for a deposit, closing costs and moving expenses on a home. It also is very wise to have cash reserves on hand after you buy.
Saving money and preserving or improving your credit history are essential elements to home ownership.
What Can You Afford to Buy?
Housing prices and rents vary from one location to another. The savvy buyer must evaluate the differences in the costs of renting vs buying a home. In some markets, buying a home can cost the same or even less than renting making it a positive choice for the prospective home buyer.