Questions Before Moving

Questions Before Moving

Questions Before Moving

Questions Before Moving

I just wanted to go over a couple of the quick questions that I always go over with clients when I first get a chance to meet with them. You know, I tell people that you really don’t know what is going to be the right property until you answer these questions, because if you’re out there shopping properties online, the vast majority of properties out there aren’t going to match your specific wants and needs, and it’s important that you understand exactly what it is that you’re looking for, too.

So, one of the first questions I ask people is, “Where, ideally, would you like to live? What location?” And I don’t

Knowing location is one of the first questions before moving
Knowing location is one of the first questions before moving

just mean what neighborhood of the area, but I mean are you looking just here in Rochester? Or are you looking at some of these surrounding communities? A lot of those questions will actually help us answer questions about what’s going to work for you financially, and what sort of financing options are going to work there, too.

Which brings me to the next point, which is the price range you’re looking at. Now I want to caution people on that, too, because at the end of the day, depending on what sort of financing you’re doing, and even if it’s the same type of financing, if you purchase a home that has higher taxes, for example, that property could actually be of a larger monthly mortgage payment than a property that’s actually $20,000-$30,000 thousand more expensive than the one you’re actively looking at. So, make sure you have a good concept of what the price point is that you want to look in, and then also what you’re comfortable with for a mortgage payment. And I tell people to kind of be flexible within that, because at the end of the day a lot of variations can come in to play there. So, just be mindful of that right there.

Questions before moving should always have an element focused around your budget
Questions before moving should always have an element focused around your budget

Another important question is, “What is your ultimate motivation behind making that big move?” Is it to save time for you? Is it a situation where your family’s growing too much and the place you’re at now no longer fits? Are you looking to get something of your own for your first time? Are you looking for your dream home? Understand exactly what it is you’re looking for, and that’s just such an important part of the whole process.

How have you been searching is another one of the important questions before moving I ask
How have you been searching is another one of the important questions before moving I ask

How are you searching online? It’s kind of an issue here in the Rochester area right now where we have a lot of different websites out there. There’s a lot of misinformation out there, a lot of not updated portals, and making sure you’re using the right tools, and that you’re communicating with us directly when you find something you like is so essential to making sure that you’re finding the right property overall.

Obviously the financing is a big part. That’s another concept and question I ask people. Are you looking to do something where you’re purchasing your first home and you want a low down payment? And maybe we talk about the Minnesota Housing Loan, or FHA, or insured conventional financing options. Or maybe at the end of the day you’re looking for something where you’re going to take the equity from your current home and you’re going to put it in your next one, and how does that look for you? Is it a situation where you would like to have some of that money to pay out some of your credit card debts, and your kids’ school, buy a new car? There’s a lot of different motivating factors to financing.

A lot of different ways to work the numbers, so it’s important that we ask these questions from the get go, because you really will not know what it is that you want, what you desire out of your next home, until you actually ask yourself these crucial questions. Where do you want to live? What’s the price point you’re looking in? What are the motivating factors? What are the wants and needs that you really want to have out of that? How are you searching? What different financing options are available to you? And then at the end of the day you’ll be able to make the appropriate informed and intelligent decisions about what’s going to be your future.

Questions Before Moving
Video Transcription

Speaker 1: Hi everyone. It’s Alex Mayer, and I just wanted to go over a couple of the quick questions that I always go over with clients when I first get a chance to meet with them. You know, I tell people that you really don’t know what is going to be the right property until you answer these questions, because if you’re out there shopping properties online, the vast majority of properties out there aren’t going to match your specific wants and needs, and it’s important that you understand exactly what it is that you’re looking for, too.

So, one of the first questions I ask people is, “Where, ideally, would you like to live? Like what location?” And I don’t just mean what neighborhood of the area, but I mean are you looking just here in Rochester? Are you looking at some of these surrounding communities? A lot of those questions will actually help us answer questions about what’s going to work for you financially, and what sort of financing options are going to work there, too.

Which brings me to the next point, which is the price range you’re looking at. Now I want to caution people on that, too, because at the end of the day, depending on what sort of financing you’re doing, and even if it’s the same type of financing, if you purchase a home that has higher taxes, for example, that property could actually be of a larger monthly mortgage payment than a property that’s actually $20, $30 thousand more expensive than the one you’re actively looking at. So, make sure you have a good concept of what the price point is that you want to look in, and then also what you’re comfortable with for a mortgage payment. And I tell people to kind of be flexible within that, because at the end of the day a lot of variations can come in to play there. So, just be mindful of that right there.

Another important question is, “What is your ultimate motivation behind making that big move?” Is it to save time for you? Is it a situation where your family’s growing too much and the place you’re at now no longer fits? Are you looking to get something of your own for your first time? Are you looking for your dream home? Understand exactly what it is you’re looking for, and that’s just such an important part of the whole process.

The next part is, how are you searching online? It’s kind of an issue here in the Rochester area right now where we have a lot of different websites out there. There’s a lot of misinformation out there, a lot of not updated portals, and making sure you’re using the right tools, and that you’re communicating with us directly when you find something you like is so essential to making sure that you’re finding the right property overall.

Obviously the financing is a big part. That’s another concept and question I ask people. Are you looking to do something where you’re purchasing your first home and you want a low down payment? And maybe we talk about the Minnesota Housing Loan, or FHA, or insure conventional financing options. Or maybe at the end of the day you’re looking for something where you’re going to take the equity from your current home and you’re going to put it in your next one, and how does that look for you? Is it a situation where you would like to have some of that money to pay out some of your credit card debts, and your kids’ school, buy a new car? There’s a lot of different motivating factors to financing.

A lot of different ways to work the numbers, so it’s important that we ask these questions from the get go, because you really will not know what it is that you want, what you desire out of your next home, until you actually ask yourself these crucial questions. Where do you want to live? What’s the price point you’re looking in? What are the motivating factors? What are the wants and needs that you really want to have out of that? How are you searching? What different financing options are available to you? And then at the end of the day you’ll be able to make the appropriate informed and intelligent decisions about what’s going to be your future.

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