Arkansas Delta Real Estate
ownership is more than a dream for many Americans — it's
a reality. In some parts of the country, more than 70%
of adults are homeowners.
Whether you're shopping for your first home or trading
up, here are a few suggestions for a successful
Buying the home that's right for you is one of
life's big decisions. Before you actually purchase your
house, it's important that you:
Know your limits. Analyze your current budget,
your ability to afford a mortgage and your future
financial goals. Make sure that your housing expenses
still allow you to save for retirement and other long-
or short-term objectives.
Get pre-approved. In many housing markets,
good homes sell fast. Home sellers are more likely to
accept offers from you if you are pre-approved for a
mortgage (a written commitment from a lender for a
specific loan amount).
Prepare a wish list. Your list might include
considerations such as: two or more bedrooms, quality
schools, nearby parks or shopping, large yard, quiet
street, attached garage, etc.
Fix up your current home. If you like your
neighborhood, sometimes it makes sense to stay put and
build your home equity. In addition to increasing your
personal net worth and giving you the means to trade-up,
you can borrow from your greater equity using a home
equity loan or line of credit. Your home's equity can
help finance a college education, a new car, a dream
vacation or even a new business.