Darien IL Real Estate Agent Shares Home Buying Advice

Consider Your Budget

After you’ve settled in with your decision to buy a house, you’ll need to first determine how much you will be able to spend and what type of credit will be extended to you. Here are a few crucial first financial steps to take in understanding your fiscal capability:

• Get a credit report. This is a report that tells you about any late payments you’ve made and any major problems with your credit. If your credit score is low, you may not be able to get a good interest rate. If it is really low, you may not be able to get financing at all. As a real estate agent in Darien IL, I have plenty of experience to advise that this step must be first to avoid disappointment later on down the road in the buying process.
• Set A Budget. How much can you afford? Use an online calculator to determine this. You can also seek lender pre-approval. They will be able to look at your income, expenses, and credit score to find out what type of loan you might be able to get. In general, you may be able to afford a house that is 2.5 times that of your gross earnings in a year. Also, your monthly mortgage shouldn’t go above about 35% of your gross monthly income.

• Consider the down payment. Generally, 20% of the price of the house is recommended. If this is too much, know that you will most likely have to pay for private mortgage insurance. This protects the bank from missed payments. There’s also closing costs to consider as well. They can run about 5% of the mortgage.

Get A Realtor

It is highly recommended that you use a buyers agent when seeking a home. They will most often split the commission on the house with the seller’s real estate agent. As a Darien IL real estate agent that has worked with many buyers over the years, I can tell you that the benefits are many. With knowledge and expertise, the buying agent will work for your interests and help you avoid unnecessary pitfalls that can come with working with the seller’s agent. If you live in or near Darien IL, please contact Beata Kolpek for the professional real estate agent needs you’ll undoubtedly have.

Start Looking

Once you’ve found your real estate agent, start looking in the areas that you would really love to live. Consider neighborhoods that have an economic livelihood, with low unemployment and solid levels of income. Consider who lives there. Are there young families? Elderly couples? Consider the schools, and whether or not homes are selling in the area. Also, if you can look during the off season you may get a lower price and less competition. Work together with your real estate agent to find the right fit.

For more information about finding the right house for you, contact Darien Illinois real estate agent Beata Kolpek. Finding your dream house is her passion.

Contact Beata Kolpek Westmont Real Estate Agent

Beata would love to hear from you.  Please contact her at:

Phone: 630-207-9909
Direct: 630-960-1536
Email: [email protected]