Meet the Slingluff Family
Seattle is a top destination for millennials and job seekers in the United States. With 236 people moving to Seattle daily, based on the Puget Sound Regional Council report, finding the right area that fits your lifestyle is essential. For many, commute times, parking costs, gas, and tolls can be a big determining factor in where you live.
Buying a home is expensive and it’s especially hard right now for millennials. This is the first generation that must carry the financial burden of student loans and new bills associated with new technologies that previous generations never had to worry about.
Finding your home can be a daunting task. Depending on the market you are looking at, it can be overwhelming and discouraging. If homes are on market for short periods of time, it can be difficult to feel as though you are doing the right amount of due diligence before making an offer.
The real estate market is hot out there, especially if you are in Seattle or San Francisco. It’s not rare for home buyers to miss out on buying their dream home because they didn’t make an offer fast enough. Even worse, there are horror stories of buyers waving inspections, and paying thousands of dollars over the asking price just to buy a home they “sort of” like.
Finding a loan that works for you is just as important as finding the right home. There are many different types of loans available, each with their own set of benefits and drawbacks, but the most popular loans are 30-year-fixed, 15-year-fixed and the 5/1 ARM. Understanding the differences and aligning the right loan with home ownership goals and plans will ensure you are setting yourself up for the best investment possible.
We set out with the goal to reduce complexity and increase transparency for home buyers and sellers. With over 80 successful sales in one of the hottest real estate markets, Seattle, we have saved home sellers over two million dollars since we started just over a year ago!
If you haven’t noticed already, your credit score is important when applying for any loan. Your credit score will be used by lenders to identify your ability to repay a loan. Their goal is to reduce the amount of risk they may encounter and prevent lending to consumers who have a history of not paying their loan payments.
How credit scores works
Credit scores range from 300-850 and consider your personal financial history including payment history, credit mix, amounts owed, length of credit history, and new credit. Here is a nice graphic from myfico.com that shows a nice breakdown.
If you are about to make one of your biggest long-term investments you should at least make sure it’s a purchase that you absolutely love, right? Spending a bit of time upfront to identify the must-have’s, the nice-to-have’s, and the can live without items will go a long way when deciding to make an offer on a home. Breaking it down to the different areas of your home will help organize your wants. Thinking about the interior, exterior and general usage of your home are the best ways to organize the wants and needs of your home.
Having a wish list and knowing what your home must have will allow you to more efficiently find the homes that fit your needs saving you time and energy. Narrowing down the location, the type of home, features, and the price range reduces the number of open houses you go to and allows you to make a more informed offer on a home you fall in love with.
Tip: Use Pinterest and other social marketing tools to begin gathering ideas of what you like.