Well, dear readers, I have recently closed on my very first home purchase. It is a lovely condominium (rehabbed) approximately 900 Square Feet, two bedrooms, one bath...and all the amenities--for the most part.
This was the most stressful thing I have ever undertaken....hands down!
And as crazy and egotistical as it may sound, I feel that I should share some "lessons learned" from this whole experience:
1). Get a good real estate agent----I have a wonderful one, Birdie Solti with MetroTech Realty here in Chicago....she was a God-send, in every respect. She answered all my questions, or found the answers to them...and she sincerely looked out for my best interests through the whole process. She wasn't sparse with her opinion about any of the properties we looked over either. I appreciate that more than she will ever know.
2). Get a Lender/Mortgage Broker in your own town---don't go for one that you cannot see and talk to on a regular (for me, at least twice a day) basis. After all, you will be the one paying "the bills"--including their commissions once it is all said and done.
3) Inspect the property from one square inch to the other....and make sure that everything is just the way you want it....or have agreed to....in writing.
4) Get the opinions of a few close, trusted friends. I was smart enough to do this...and it proved to be invaluable--particularly my friend Mike--who was a professional interior designer at one point in his life.
5) Don't believe the "Good Faith Estimates" when it comes to closing costs....these were no where close to be accurate....the REAL costs were far more than the estimates....
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