Moving can be overwhelming. It’s a big decision. There is a lot to consider. Sometimes a question will creep up on you and BAM your journey is set back.
We hope this FAQ guide will answer any questions you have…. And maybe some you didn’t know you had!
That depends! Buying a home is much more cost-effective in the long run. Most families lose up to $100K through years of renting. But there are many factors to consider. Do you have plans to move cities in the next two years? Do you have the resources to fix something in your home if you’re blind-sighted by a problem? If not, renting may be a better option for now. We can help you figure it out regarding what makes the best financial sense so you can enjoy your lifestyle while you live in Charleston because it's more than a home...it's a lifestyle.
Your monthly payment should ideally be ¼ of your monthly household income. You’ll learn more about monthly premiums during your mortgage pre-approval process. I strongly recommend getting pre-qualified with a lender before you start looking at homes. This is the first place to start. You must have a strong foundation to be able to build your dreams. I can help you find the right lender.
Depending on your school needs, I suggest you call and speak directly with the school district offices. They can always give you the best information. If schools are important to you, please let us know so we can search the home areas for school locations of your choice. We abide by Fair Housing Guidelines. We are happy to refer you to the correct resources to help you discuss your personal situation.
You should apply for pre-approval before you start shopping for a home. If you find your dream home, you’ll want your pre-approval ready to go so you can make an offer. More importantly, it helps you understand your estimated home payment. We want to work within your comfort zone.
Some of the most expensive items to fix in a home are:
If you’re handy and like home improvement projects these may not be big barriers for you. We always recommend home inspections. This is the only way you truly know what you are buying.
That depends! Is being close to downtown important to you? Would you like to live by the beach? Are school districts important? The good news is we know the different Charleston areas. We will chat and get to know you. This way we can help you find the perfect area for you.
The simple answer is yes. But I don’t expect you to take our word for it! Check out our reviews or ask me for references. I am happy to share them. We strive for excellent customer service every time. And personally speaking, I am a woman of my word.
Buyers typically don’t pay for buyer agent services. That responsibility is taken care of on the listing side. It’s paid at closing. However, it all depends on what you are trying to achieve.
Occasionally buyers will agree to pay their agent when a seller refuses to pay. This is very rare. We always discuss this process. We want you to understand how real estate works. We will chat about all documents before writing any offers. We want to make sure you’re comfortable.
It depends.
In the State of South Carolina, all contracts are legally binding unless contingencies are put in writing.
Should one of the contingencies not be met, then maybe. But there’s no guarantee you’ll get your earnest money back. We are very careful to make sure when you are in a contract that you are ready to be in a contact but if something happens, we help you work through it.
From start (beginning an online search) to finish (closing the deal and moving in) the process takes 10-12 weeks on average. Once you go to contract, it takes about 30 to 60 days - unless your lender tells you otherwise.
The national average for down payments is 11%. But this is taking into account first time home buyers who typically put down a 3-5% down payment. Ultimately, this is a lender question. I always refer these questions to the experts. They can discuss your specific financial situation to guide you through the best loan program for you.
Most lenders require a FICO score of 620 or higher. Some loan programs can go as low as 580. This is a lender question and is answered based on your specific needs. We chose to never get into the financial side of your personal business. We think that is private. The lender will tell us only what we need to know to write your offer. This is to help you get the best price on your new home. We believe in confidentiality. You don’t need to worry about us sharing your information.
Will the equity you’ve created on your current home go towards a downpayment on your new home? If so, it’s a good idea to sell your home first. Some buyers choose to turn their current home into an investment property instead. In this case, you won’t need to sell your home before buying a new one. But it could affect the mortgage rate. Your second home could have a higher interest rate.
Buyers often have a short time to sell their homes when relocating to a new city. This can be because of job transfers or other life events. In this case, it’s worthwhile to ask your new employer about relocation expenses if it is job relocation. Or you can ask me about our real estate relocation assistance.
That’s up to you! Some people know exactly what they’re looking for. Others need to shop around to find out what they like. With online listings, shopping for a home has never been easier. But it’s important to still view the homes you love in person first. My best advice is first to fall in love with the town or subdivision. Then focus on the homes in that area. Then you know you have found your lifestyle.
When you make an offer on a home your agent will ask for your earnest money. This is usually 1-2% of the home's price. This is “good faith” money used to show that you are serious about your offer. This money will take a home off the market and reserve it for you. Your earnest money will be credited back to you on your closing statement. We watch the numbers closely to ensure all money is accounted for when you close.
We set a reasonable time for you to get a response. Typically it’s 24 hours, but it depends on how much activity the home is having. We work quickly to attempt to prevent multiple offers on a home. There is always a loser in that situation and we like to win!
Drop us a line or call me directly! We’ll get to know you, what you’re looking for, and help you get the process started. We take the stress out of it so you can enjoy the process.
Buying a home is more than determining where you want to live. It’s about creating the lifestyle of your dreams…We can help you find yours.