Buying your First Home

Step 1- Your Finances


Establishing credit is very important especially when you are looking to purchase a large investment like a house. Your credit reports reflects how you manage your finances. Study your credit report and your financial history so you are familiar with it before applying for a mortgage. These reports will be needed for the mortgage approval process in finding out the interest rate and other loan terms.


Step 2- Familiarize Yourself with the Mortgage Industry


Do your research. Finding the right loan and lender is extremely important to your home buying success.
Choose the lender that is best for your needs but be sure to understand the loan process as much as you can before talking to a lender so you don’t feel completely lost.

Step 3- get Pre-Approved for a Mortgage


Once you talk with a lender, you should be given an estimate of how much you can afford for a house.
Being pre approved can help you in a variety of ways. So if a home seller gets two offers, one being yours with a pre approved letter from your bank saying you have been approved for the amount offered, and then there is the other person with no letter, your chances of getting the house are much better.

Step 4- Determine what you Want and what you need


Buying a home isn’t as challenging as most think. If you familiarize yourself with the real estate market and narrow down what you want and need before buying house the process will run a lot smoother.
Be sure to understand agent duties and devotion because some real estate agents represent buyers, sellers, or both or depending on the state they can work as neutral facilitators for either party.


Step 6- Start Searching for your New Home


Your agent will most likely give you multiple listing sheets to review. You might have also picked up a real estate magazine in your area and found a house through that, shop online, or find ads in the newspaper. Other ideas can be driving around the neighborhoods that have houses for sale. Either way you look, consider these home buying search tools in your search.


Home Buying Search Tools


1. Consider houses that others may overlook
2. Get out there to see what’s out there
3. Look into public versions of multiple listing service web sites
4. Search for real estate agent web sites
5. Browse real estate search engines and networks
6. Find for sale by owner properties
7. Look at magazine and newspapers in print
8. Find foreclosed homes


Step 7- Handle Pre-Offer Tasks


When looking at houses be sure to look at its structure and features which can help determine if its something you want or not.


Step 8- put in an Offer


There's no one specific set of instructions that cover all the differences in real estate laws and customs that exist throughout the United States, so when putting in an offer on a house, it will depend on your location.


Step 9- House Inspections and Other Tests


Some states allow home inspections before the final contract is signed where as in other states inspections take place after the contract is signed. No matter when you have to do them, it's very important to decide which inspections and tests you want done.
Discuss with your real estate agent or if you don’t have one, then an advisor to find out when inspections should happen and if additional types of testing are needed for a specific area.


Step 10- Avoid having to Correct Last Minute Problems


As the closing date approaches, everyone involved in your real estate transaction should be checking the progress on a daily basis. That way if a problem arises it can be taken care of right away.
Step 11- Closing
Closing, also called settlement, is the event that transfers ownership of the property from the last owner to you.


Happy house hunting! 

7 Steps to Beautifully Painted Flea-Market Finds

Even the designers on TV are doing it; finding great furnishing at flea-markets, charity shops, and yard sales. Often, a wonderful piece of furniture can be had for mere dollars, especially if its finish is in desperate need of some TLC. Unfortunately, the design shows on TV don’t show you all the proper steps for refreshing your finds. Take the time to do it right, and your “new” furniture will have friends wondering where you shop!

1. Safety first: Before you disturb any painted surface, you should think about the possibility of lead. Lead paint additives were phased out in the 1970’s and 80’s. If you suspect lead is present in any paint, you can find information about safety precautions and testing at www.epa.gov/lead, or by calling the National Lead Information Center at 1-800-424-LEAD. Even with newer surfaces, I find that a dust mask is always in order when sanding. Your lungs will thank you.

2. Sanding: Not all pieces will require sanding before repainting. My mantra is to leave well enough alone when dealing with old paint surfaces. If, however, the paint is chipped, peeling, crackling, or has other problems, you might not be able to avoid the sandpaper. A small electric hand sander is my best friend for these situations. A very light sanding (really just scuffing) can help your new paint adhere to old oil paint or a glossy surface.

3. Prep, prep, prep: The number one reason for paint failures is incorrect preparation. Time spent on prep will ensure you get a good result in the end. Make sure the surface is completely clean and dust free before you ever get the paint out of the can. If you have sanded the surface, remove dust with a tack cloth. This is a small piece of cheesecloth soaked in wax, available at your local home improvement store in the paint section. They cost around one dollar…get several to keep on hand for the next project! If you can’t find one, several thorough passes with a damp cloth followed by another pass with a dusting cloth can do the job. Most importantly, don’t rush your prep work.

4. Taping: Carefully tape off any areas you don’t want painted, and burnish the tape edges down once, firmly, with a fingernail. If you think you might have to leave the tape on for more than a day or so, use a lower adhesion tape made for delicate surfaces.

5. Priming: If the piece is unpainted, consider a coat of primer before you paint. There are excellent primers specifically made for stone and metal. Tell your paint store rep what you’re painting and follow her advice. Use a good latex or oil-based primer for wood surfaces. Some wood grains (pine or cheaper grades of oak, for example) may “rise” after a first coat of latex, and priming improves the chances that you can avoid this. The raised grain will feel rough. If this happens, you’ll need to sand the grain down lightly and prime again. Don’t worry; it’s not as bad as it sounds when you know what happened!

6. Painting: Finally, time to paint! Use a good quality paint brush. Be careful not to overload your brush with paint and put it on too thickly. This is a common mistake. Painting in thick layers can lead to ugly drips, cracks, or drying delays. Instead, paint in thin coats, allowing time for each coat to dry completely before recoating. This will give you a beautiful and strong surface.

7. Curing: Follow the instructions on your paint can to make sure your new furniture is safely cured before you begin to use it or place objects on top of it. Paints, latex in particular, can feel dry well before they really are. When in doubt, I like to wait 24-48 hours before I place my newly painted flea-market beauties into service.

Now, enjoy your new furnishings. Use them well and never fear; if they get chipped or you tire of the color, you know how to fix it!