1. Home Buying Tips
Ray Hishmeh
Coldwell Banker Real Estate

2.  Buying vs. Renting
• 3 Major Advantages to Buying:
1. Your money goes toward owning the home
 Make your house payments for several years, then sell
your house and get your money back *
2. Home Loan interest is tax deductible
 Pay less taxes!
3. Interest rates are so low right now that a house
payment can be lower than a rent payment.

3.  Size & Features of the home:
• What is important to you?
• Family?
• 3 bedrooms, 2 bathrooms?
• Garage, Basement, Central Heat & Air
conditioning
 Consider Resell Value:
• The average American moves 11 times in a
lifetime
• Will these features help you sell the home later?
• Does having a pool help sell a home?

4.  Location!
 Where do you want to live?
 Big Difference in property values based on
location
• Newer 3 BR, 2 Bath, Munfordville
 Around $100,000 +/-
• Newer 3 BR, 2 Bath, in Bowling Green
 Around $110,000 to $120,000

5.  Price of the home!
• Maximum Monthly Payment
 What is your yearly salary?
 According to Bankrate.com, your house
payment should not exceed 28% of your
gross monthly income:
• $40,000 yearly salary x 28% = $11,200
• $11,200 ÷ 12 (months) = $933 max monthly
payment

6.  Price!
 How much can you afford based on your
salary:
• http://www.ginniemae.gov/2_prequal/intro_question
s.asp?section=YPTH

7.  Maintaining Good Credit
• Credit Report
 Student Loan, Car loan, Credit cards, late payments
 The bank will look at your credit report to
determine if they should give you a loan
 You cannot get approved for a home loan
with bad credit
 If you get behind on a payment, contact the
bank
 The worst thing you can do is ignore the
problem

8.  Homes for sale
• Realtor.com, Trulia.com, zillow.com, homes.com
 Other Websites
• Bankrate.com
• Ginniemae.gov

9. What’s the value?
•3 Bedrooms, 2 Baths
•Garage, basement
•Located just outside of Chicago

10. What’s the value?
•3 Bedroom, 2 Bath
•Garage, basement
•Louisville, KY

11. What’s the value?
•3 Bedroom, 1 Bath
•Garage, Basement
•Munfordville, KY