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Buying a Home S P E C I A L A D V E R T I S I N G F E AT U R E
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WHAT IN THE WORLD DO YOU NEED TO KNOW?
7
things homebuyers should know
1. Get pre-qualified for a home loan.
4. Choose a trusted Realtor with whom
Getting pre-qualified takes so much guesswork out of shopping for a home. You’ll know the price range you should shop for, learn the monthly costs of a mortgage and know just how large a mortgage you can afford. Pre-approval also gives you leverage when negotiating with sellers because they know you already qualify and can move quickly to purchase your new home.
you are comfortable.
Charles Chastain, senior vice president of lending with TTCU The Credit Union
Buying a house is a substantial undertaking, emotionally and financially. It’s important to work with a professional you trust. You must have confidence in your Realtor’s ability to navigate you through the ever changing market and financing options. Without that trust you can experience unnecessary stress. That’s why it’s important to choose a Realtor who will listen to your needs and work for you to smooth out the process. Denise Mink, Realtor with Chinowth & Cohen Realtors
2. Know how much house you can afford. Your borrowing capacity is based on your income, the amount of debt you are carrying and your credit score. A higher credit score can give you more bargaining power when searching for a new home loan. A good credit score gives you leverage to negotiate a lower interest rate. You can still get approved for some loans with a low credit score, but the amount will be limited. Improving and maintaining a higher credit score is beneficial. Kelly Graffis, mortgage loan originator/underwriter with Communication Federal Credit Union
3. Understand that the purchase price is just one part of the cost of owning a home. There are many items to consider carefully before making what, for most people, is the largest purchase in their lives. Annual property taxes continue indefinitely, long after the mortgage is paid off. Utility expenses can vary wildly depending on the energy efficiency of the home. An older home has more maintenance expense than new construction. Budgeting funds for improvements to personalize the home at the time of purchase is always a good idea. Peter Grant, president of the Home Builders Association of Tulsa
5. Make sure your Realtor is proficient with online marketing.
Anyone can gather online information on sales of houses. Experienced Realtors can provide all the data on local home sales that a buyer wants to see, but their experience over the years is even more vital. They know how to compare homes for each client (comparing apples to apples rather than apples to oranges). They also can tell you whether a house is over or underpriced. Johnnie Cherblanc, Realtor with Berkshire Hathaway HomeServices Anderson Properties
6. Identify what you should consider
7. Know which features are standard and which are upgrades when building a home.
When building a true custom home, there really aren’t any standard features as they are all geared to the It’s very important for buyers to recognize the design as homeowner’s wishes and budget. Several items in a well as construction features of the builder whom they home that people tend to upgrade are energy efficiency are considering. Design is what will give the buyer a items such as higher SEER ratings on air conditioners strong return when it’s time to sell. If the builder is not and foam insulation. Other items that people tend to studying, as well as visiting, emerging markets and those spend more on are appliances and outdoor living design trends, your new home could be outdated before areas that feature built-in kitchens, fireplaces, motorized you even close and may need an update before selling. screens and pools.
when selecting a builder.
Adrian Berryhill, owner of Build BIG Luxury Homes
Wayne Farabough, owner of Perfection Homes
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Buying a Home S P E C I A L A D V E R T I S I N G F E AT U R E
TULSAWORLD.COM/BUYINGAHOME2017
First-time homebuyer? Follow these steps to find a place to call home Buying a house requires the experience and support of a team of reliable professionals. The experts at Realtor.com provide the following steps to homeownership.
5. Get funding: Get as much information as possible regarding your mortgage options and other costs (such as interest, closing costs and taxes).
1. Get a Realtor: In the maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with a Realtor who knows the community and much more.
6. Make an offer: While much attention is paid to the asking price of a home, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value — or additional costs — for buyers.
2. Get a mortgage pre-approval: A consultation with a mortgage lender is a crucial step in financing a home purchase. Find out how much you can afford before you begin your home search. 3. Look at homes: A quick search online will bring up thousands of homes for sale. Educating yourself on your local market and working with an experienced Realtor can help you narrow your priorities and make an informed decision. 4. Choose a home: Select a home that meets your needs and priorities.
7. Get insurance: No homeowner should be without insurance. Real estate insurance protects owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime. 8. Closing: The closing process is increasingly computerized and automated. Closings bring together a variety of parties who are part of the real estate transaction.
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Create the perfect outdoor oasis (BPT) — Summer brings beautiful days, so who can blame you for wanting to spend them all outside? Your yard becomes your living room and your patio the kitchen. It’s your home away from home. Your outdoor space is just as important as your home’s interior. When looking for a new home or building one, be sure to create an outdoor oasis you can enjoy all summer long. To get started without breaking the bank, follow these tips from the experts at Lowe’s. • A place to gather. Think of the parties you’ve hosted. They’ve likely all had a common gathering place such as the kitchen counter, the living room couch or the dining room table. Your outdoor space needs a similar location, and a dining set naturally invites guests to relax. Five-piece dining sets are perfect for more intimate gatherings, while sevenpiece sets comfortably accommodate larger crowds. • The focal point of your kitchen. Grilling out is a staple of any summer party, so it’s imperative that you get just
the right equipment. Look for a fiveburner gas grill with four heavy-duty burners, one infrared searing burner and an infrared rotisserie burner, giving you a solution for any menu choice. • A place to relax. The sofas and armchairs in your living room are popular sitting destinations during any indoor event, and you can create the same environment outdoors with sectional patio furniture. • A little shade goes a long way. An all-day party means plenty of sun, and when guests need a break from the heat, it’s good to provide an area of relief. Patio umbrellas are an affordable option. Look for an umbrella outfitted with LED lights for enjoyment into the night hours.
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AREAREALTORS M O V E S
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N E W S Smith Chinowth & Cohen
Carol Smith has joined Chinowth & Cohen Realtors’ Owasso office. She obtained her real estate license in 2017 and is familiar with the Owasso, Skiatook, Collinsville and Broken Arrow areas. Smith describes herself as a “selfstarter with excellent organizational skills and a keen attention to detail.” In addition to her real estate knowledge, Smith plans on providing homestaging advice to all of her clients who may need help. Smith served for 22 years as a nurse in the U.S. Navy and briefly worked as an escrow officer.
& Cohen’s Broken Arrow office. Wopart is knowledgeable of the Broken Arrow, Coweta, Owasso, Bixby, Jenks, Sand Springs and Grand Lake areas. She also is familiar with Lawton, Oklahoma City and Norman. Wopart has been described as outgoing and friendly. She is also a good listener and prides herself on being able to “read the room” to gauge her clients’ interest. Wopart has worked as a teacher in the Coweta and Union high schools. She believes that many of the skills she learned while teaching will transfer to her real estate success.
Alana Wopart has joined Chinowth
This column is prepared by the Advertising Department of the Tulsa World.
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Handy home-selling tip: Every buyer wants a home with good light so do what you can to brighten your home interior. Ideas include: • Increase the wattages of your lightbulbs. • Change your lampshades. • Clean your windows. • Paint walls a lighter color. • Trim bushes and trees near your house. • Opt for window treatments in light colors and lightweight fabrics. • Open the curtains during the day.
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AREAREALTORS M O V E S
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N E W S Adelson Coldwell Banker Select
Bernadette Adelson has joined Coldwell Banker Select’s midtown Tulsa office. Born and raised in Oklahoma, Adelson says the people of Oklahoma are one of the reasons she loves living here. She chose Coldwell Banker Select because of its great reputation. Adelson previously was the owner of Meltdown Fitness for three years and the manager of Fit For Her for seven years. Karla Carvajal has joined Coldwell Banker Select’s Owasso office.
Carvajal has lived in Tulsa for 16 years and graduated from Coweta High School. She was born in Mexico City. Carvajal partners with her husband of 11 years in his construction business. She also home-schools their two children.
Judy Prieto has joined Coldwell Banker Select’s Sheridan office in Tulsa. Originally from New York, Prieto has been an Oklahoma resident for 25 years. She is married with two adult children. Her favorite part of living here is the safe community and
Carvajal Coldwell Banker Select
Prieto Coldwell Banker Select
conservative values. Prieto studied journalism and mass media at Tulsa Community College and attended Rhema Bible College. Prieto worked for the City of Broken Arrow as the Farmers Market coordinator for three years. Prior to that, she spent 25 years as the co-owner/vice president of Best Idea Marketing. This column is prepared by Tulsa World Media Company’s Adver tising Depar tment. If you have an item of interest for the column, you may send it to Stefanie Forney, Box 1770, Tulsa, Oklahoma 74103-1770 or e-mail to stefanie.forney@tulsaworld.com.
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