FAQ
FAQ
Frequently Asked Questions
Am I Ready to Be a Homeowner?
Buying a home is a big step, and it’s important to know if you’re financially and emotionally prepared. You’re likely ready if you have a stable income, a good credit score, manageable debt, and savings for a down payment and other costs. It’s also important to think about your long-term plans—like job stability and family needs. At Vaas Realty, we help you assess your readiness and guide you through the process with confidence.
Is Renting or Buying Better?
It depends on your goals. Renting offers flexibility, while buying builds equity and gives long-term stability. If you’re planning to stay in one place and want to invest in your future, buying is often the better choice.
What Is the Lender's Formula?
The lender’s formula helps decide how much home loan you can afford. It considers your income, debts, credit score, and monthly expenses to ensure you can safely repay the loan.
What Do I Look for in Homes?
Focus on location, budget, layout, size, future resale value, and nearby amenities like schools, hospitals, and markets. Also, check the property’s condition, legal clearance, and builder reputation
Do I Need a Home Warranty?
A home warranty isn’t required, but it can be helpful. It covers repair or replacement costs for appliances and systems like plumbing or electrical, giving you peace of mind as a new homeowner.
What Should I Expect at Closing?
At closing, you’ll review and sign all final documents, complete the payment, and receive legal ownership of the property. Once everything is signed and approved, you’ll get the keys to your new home!
What Is Pre-approval?
Pre-approval is a lender’s confirmation that you qualify for a home loan based on your income, credit, and financial status. It helps you know your budget and shows sellers you’re a serious buyer.
Am I Ready to Rent?
You’re ready to rent if you have a steady income, can afford monthly rent and a security deposit, and are prepared for responsibilities like bills, maintenance, and lease agreements.
What Should I Offer?
Your offer should be based on the home’s market value, condition, and location. A real estate expert can help you make a competitive offer that fits your budget and has a good chance of being accepted.
Can I Ask You for Advice?
Absolutely! At Vaas Realty, we’re here to guide you every step of the way. Whether you’re buying, selling, or just exploring options — feel free to reach out anytime for honest, expert advice.
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