FAQs

Buying a Home

This depends on your income, debts, credit score, desired down payment, and desired monthly mortgage payment. Many online calculators can help you estimate what you can afford.
Closing costs can vary depending on location, loan type, and other factors, but typically include title insurance, lender fees, origination fees, recording fees, and transfer taxes. Expect to pay 3-5% of the purchase price in closing costs.
Consider factors like commute time, school district quality, amenities, crime rates, and housing styles. Research online and talk to your real estate agent about different neighborhoods.
The process typically involves pre-approval for a mortgage, house hunting, making an offer, negotiating, signing a purchase agreement, completing a home inspection and appraisal, obtaining homeowners insurance, closing the deal, and finally moving in.
There’s no perfect time, but the spring and summer months often see more housing inventory and buyer competition. If you’re flexible and patient, you may find better deals in the fall or winter.
Yes, a pre-approval letter shows sellers you’re a serious buyer and can help you negotiate a better price.

Selling a Home

A real estate agent can provide a comparative market analysis (CMA) to estimate your home’s value based on similar homes in your area that have recently sold.
List your house on a multiple listing service (MLS), use online listing websites, hold open houses, and work with your real estate agent to target potential buyers.
Declutter, make minor repairs, improve curb appeal, stage the house to look its best, and consider professional photographs.
This depends on market conditions, your asking price, and how well your house is presented. Typically, it takes 3-6 months to sell a house.

General Questions

Owning a home offers potential for appreciation, tax benefits, and stability, but also comes with maintenance responsibilities and financial risks. Renting offers flexibility and lower upfront costs, but you won’t build equity.
Both are licensed real estate agents, but realtors are members of the National Association of Realtors (NAR) and adhere to a strict code of ethics. Brokers can also operate their own brokerage firms.
Fixed-rate mortgages have a set interest rate for the life of the loan, while adjustable-rate mortgages (ARMs) may have a lower initial rate but can adjust over time. There are also government-backed loans like FHA and VA loans with low down payment requirements.
It’s not always necessary, but a lawyer can review contracts and protect your interests. Consult with a real estate attorney for specific advice.