Getting the keys to your new or pre-owned home can be a frustrating process. Here are a few tips to make things smoother the Steiner Communities way.

1.  Get Started.

The search for a new home should not start with price. More important are the location and quality of a property or community and its ability to meet your needs.

First ask yourself how you want to live. With a wide variety of residential communities, Steiner can accommodate nearly any lifestyle - from an economical factory-built home in a 55-plus or all-age community to a 4 bedroom, 3 bath Plant City home on a one-acre lot. If you are a first-time buyer or current home owner wanting to down or up-size, there is no better time to enjoy a new home. If you need the services of a real estate company should contact Steiner Realty Group for full access to every MLS listing available.

For instance, there are things about renting that may seem simpler than buying. But a big drawback is that you're not in control. Your rental payment can rise at your landlord’s whim… You may not be reimbursed for any permanent remodeling changes – or you may be prevented from making them… And breaking your lease before it terminates typically brings serious repercussions.

If you buy a home at a fixed interest rate, your monthly payment and interest will stay constant. You also will build equity - which should let you sell at a profit if you choose, or even borrow against your home.

To learn more about Steiner Communities, MAK Homes, Charleston, Avondale or Park Place Homes or any of our existing Steiner Communities, visit our Communities page by clicking here. Or visit any of our sites in person for a tour of a model home, community and its surroundings. Click here to set an appointment for a personal tour.

2.  How Much House Can You Afford?

Take the time now to examine your finances and determine how large a down payment and monthly payment you can afford. This amount will be strongly affected by your credit rating with the three major credit bureaus:   Equifax, Experian and TransUnion. 

In addition to taking on payments within your means, understand that buying a home is a long-term commitment that requires up front investment. Overall cost is sometimes determined by the amount you initially deposit to activate or close a deal.

If lack of a down payment is holding up your move into a new Steiner Community home, you have several options:

• Save your tax refund
• Borrow from parents or other close relatives
• Squirrel away a percentage each month
• Sell furnishings or other personal property
• Investigate government programs
  
• Take a second job temporarily
• Tap into your retirement savings
• Consider 100% financing
  
• Pay cash and be done with it

Any of these options may help you get the home you want. Contact a Steiner Communities, MAK Homes or a Park Place Homes representative today for more ideas and information.

3.  Choose a Broker.

Home sellers enlist the help of professionals to represent their interests. So why shouldn't you as a buyer do the same? It is wise to hire Steiner Realty Group to represent and advise you, particularly if you have never owned a home. Some builders may resent that idea, but Steiner Realty Group will welcome you and assist all the way.

4.  Make the Offer.

Once you've found the home you want, you or your representative will want to negotiate a reasonable price. One significant advantage to buying in a planned community like Steiner’s is that you typically will be offered a number of desirable incentives to purchase – and may find there is no need to further negotiate price. Contact a Steiner Communities, MAK Homes or Park Place Homes representative to learn more.. 

5.  Select a Mortgage.

Finding the right mortgage or home loan may involve a lot of research. Accessing the Internet before you contact a Lender can be important to understanding and evaluating interest rates, points, processing costs, and adjustable options. Any of the Steiner Team can assist.

Many Mortgage Lenders, banks and real estate developers will try their hardest to earn your business. Probably they’ll offer you a variety of mortgage packages. But regardless of Lender, there are only two basic types:

• Fixed-Rate Mortgages or Chattel Loans lock in your interest rate for the life of the loan. Your total monthly payment – consisting of principal plus interest – remains constant. But the portion of each payment allocated to principal – and therefore your home equity – grows as the amount you owe decreases.

• Adjustable-Rate Mortgages (ARMs) may appear more desirable because their beginning interest rate is lower than that for a fixed-rate mortgage. However, it is important to be aware of and prepared for the fact that this interest rate may rise or fall during the term of your loan.

Which type of mortgage of chattel is better for you? This will require a close look at your present circumstances, future earning potential and financial goals.

Keep in mind the immediate needs of you and your family. Also ask yourself whether it is likely you will remain in this house for a long period. If you believe you will, getting a fixed-rate mortgage or home loan is probably your best choice.

Also be sure to get the best possible interest rate you can. Paying 6.5% interest rather than 8.0% interest on a $130,000, 30-year fixed-rate mortgage will save you $192.67 per month – or more than $70,000!

6.  Close the Deal.

Once your purchase offer is accepted, you’ll want to pave the way for a smooth closing. This information should help you eliminate any obstacles:

• All parties must be present to sign. This includes you and your spouse or co-signer, if any, or any person invested with power of attorney. You may also wish to have your attorney or your Broker present.

Failure to observe any of these precautions may delay a move into your ideal home.