By Deba Uwadiae
Central Ohio-based realtor Abi Odari has advised that buying a house is a way of building financial security while this pandemic period serves as the appropriate time to buy one.
“The ongoing COVID-19 pandemic has made 2021 a singular time to become a homeowner. Mortgage rates are relatively low right now. Since the interest rate can play a significant role in the loan’s total cost, snagging a mortgage while interest rates are low could be a good move,” Realtor Abi Odari told New Americans Business.
Abi, who qualified as a realtor in 2017 talked about his passion and other things he does in creating amazing customer satisfaction working as full-time real estate agent in central Ohio.
Passion
I help people purchase or sell real estate properties. I advise clients about market conditions, conduct walkthroughs, and provide guidance and assistance through the process of buying or selling properties from beginning to end.
Reasons
Buying a house is a good way to start building financial security. As you pay down the mortgage, you build up home equity which is a valuable financial resource.
- Stable Monthly Payments
- Opportunity to Build Equity
- Cheaper Than Renting Overtime
- Owning A Home Provides Tax Advantages
- Freedom to Make Changes
- Build Your Credit
- Solid Investment
- Process of buying a home
Steps
Step 1: Check Your Credit Score
Step 2: Save For A Down Payment and Closing Costs
Step 3: Determine How Much Home You Can Afford
Step 4: Choose A Lender
Step 5: Get Preapproved for A Loan
Step 6: Find the Right Real Estate Agent
Step 7: Determine Your Priorities
Step 8: Start House Hunting
Payment
A buyer does not necessarily need to pay cash to buy a house. Instead, the buyer will make a small down payment in cash (3.5 to 20% of the sale price); get a loan from a bank called a mortgage for the balance. The payment on the loan is expected every month for between 15 or 30 years.
Preparation
- Start saving early
- Decide how much home you can afford
- Check and strengthen your credit
- Explore mortgage options
- Research first-time home buyer assistance programs
- Compare mortgage rates and fees
- Get a preapproval letter
- Choose a real estate agent carefully
- Pick the right type of house and neighborhood
- Stick to your budget
- Make the most of open houses
- Pay for your home inspection
- Negotiate with sellers
- Buy an adequate home insurance.
(Abi Odari (Realtor) Email: aodari1@gmail.com Tel: 401-339-8727 of Red One Realty 929 Eastwind Drive # 206, Westerville, OH 43081)
