• Be more likely to find the home that meets all your criteria
• Lessen the amount of time it will take to find your home
• Understand all the terms, processes and documents used when buying your home
• Have up-to-date market information that will allow you to make informed decisions
• Have a skilled negotiator working on your behalf, one who is committed to looking after your best interests
• Enjoy peace of mind, knowing that all the details of your purchase are being taken care of by an experienced and knowledgeable professional

BUYING HOME PROCESS Outstanding schools, good city services, nice parks and playgrounds, convenient shopping, restaurants and transportation, and a track record of sound development and good planning are just a few of the considerations that are important to people when they choose a community to call home. No one knows the people and communities we serve better being local Realtor. It’s our job to know the ins and outs of communities and we would like to share the home-buying process. Even before talking with an agent, you can visit our website sellbuyhomesde.com to view all available homes in the area where you’re seeking to buy a home. If you’re thinking about buying a home, the first thing you should do is focus on exactly what you're looking for. Start by establishing your priorities in these three areas:

1. Location: How will the location of schools, shops and transportation affect your choice of neighborhoods?
2. Personal tastes: How large a home do you need? What style of architecture do you prefer? On what kind of lot?
3. Budget: How much home is wise for you to own?

There is also the question of whether or not to buy a new home. New homes tend to have more spacious living and family rooms, and they’re generally easier to maintain. However, many homes built years ago offer more total space for the money and larger yards. Taxes may also be lower. Many people are charmed by the character of an older home, but deterred by potential maintenance costs. Coldwell Banker Residential Brokerage's Home Protection Plan gives you a safety net for unexpected repairs on many home systems and appliances for a full year or more after you move in. If you’re thinking of buying a new construction home, there are other matters to take into account. They are reported below.   Resources & tools While you’re thinking everything through, do a little research by conducting a property search and reviewing our neighborhood info. Use the mortgage calculator at the bottom of the page or contact our mortgage experts to get an idea of what your costs will be. Once you have a sense of what you want in a home, contact us to help you find neighborhoods and properties that appeal to you. Provide as many details as possible about what you have in mind. This will help them determine which properties you should see. With our experts at your side, you can rest assured you will find the right one. On the road: looking at homes When you go out to look at homes, we suggest bringing the following items along:

• Notebook and pen for note-taking
• Flashlight for seeing enclosed areas
• Tape measure for checking room sizes, clearance, etc.
• Camera to help you remember details about the home

Your real estate agent will likely provide detailed information about each home you see. That said, don’t be afraid to snoop around a little. You will want to find out as much as possible. Sellers understand that because their home is on the market, it will be looked over pretty thoroughly. Also, don’t hesitate to ask any questions you may have – about specific rooms, features or functions. Pay particular attention to areas that could become problematic, such as additions, defects and areas that have been repaired. As a potential buyer, you have the right to know. If you want to go back to a home for another look, your agent will be happy to schedule an appointment. 8 questions to ask when looking at a home People buy homes for many reasons: to be closer to their jobs, get extra space for a growing family, downsize, or other lifestyle changes. With your own reasons in mind, consider the following questions:

1. Is there enough room for you now and in the near future?
2. Is the home's floor plan right for your family?
3. Is there enough storage space?
4. Will you have to replace the appliances?
5. Is the yard the right size for you?
6. Are there enough bathrooms?
7. How much maintenance or upgrading will you need to do right away or later?
8. Will your furniture work in this home?

Finding the right home for you There is no set number of homes you should look at before you decide to make an offer on one. The perfect home may be waiting for you on your first visit. If it isn't, the house-hunting process will help you get a feel for the homes in the community and create your “short list.” If you're looking in more than one community, try to make the most of each house-hunting trip. Stop by the local chamber of commerce to pick up promotional literature. You can also ask your agent for welcome kits, maps and information about schools, churches and recreational facilities. Below the estimate of your monthly payment, including mortgage, tax, insurance and homeowner association (HOA) fee, for a detached property in Pike Creek (Wilmington, DE 19808) with 4 bed rooms, 2 full bath room and a powder room of 1739 sqft. Example of Estimated the Cost  (House in Pike Creek, Wilmington DE19808)  Paying for a Home Affordability is perhaps the single biggest concern of first-time homebuyers. Many singles and young families in particular wonder how long it will take to afford their first home. On top of the base price of the home, hidden fees and taxes can add up. Usually, the total amount of the previous year's property taxes will be included on the listing information sheet for the home. If it isn’t, ask to see the seller's receipt. Remember, tax rates change from year to year, so the previous year's bill should only be considered a ballpark figure. For a more precise projection, call the local assessor's office. Our advice: Don't sell yourself short. Talk to your real estate agent. A good agent is committed to honestly and responsibly working with you to determine your affordable price range. There are many financing options available, some with low down payments. Your agent will help find an option that fits your budget, particularly if you are first-time-buyer, and you may be surprised at just how much home you can afford. Our mortgage partner Homebuyers who are pre-qualified have a competitive advantage when it comes time to negotiate a purchase. Through our mortgage partners, we can help determine what loan programs will work for you before you’ve even selected a house. Once you go through the pre-approval process and provide us with the required information, we will pull and analyze your credit report. We can then determine the maximum loan amount you qualify for. If you meet the guidelines of our mortgage programs, you will be pre-approved for a loan. Being pre-approved demonstrates your financial ability to purchase a home, and will help you during the buying process. Final approval is subject to applicable secondary market credit and property requirements. Making an Offer When you've found a special house you want to call home, you'll probably feel excited and a bit nervous. What’s next? An Offer to Purchase. Let your agent know you're ready to write an Offer to Purchase. This is a document declaring how much you will pay for the home, provided that certain conditions are met. There is no rule for calculating a realistic offer. Naturally, the buyer wants the best value and the seller wants the best price; however negotiations can be influenced by many factors, such as a seller who is changing jobs and wants to sell quickly, or a buyer whose heart is set on a specific home. Once you've looked at the home's features, asked questions, checked comparable home prices and discussed the matter with your agent, you should have a good idea of what the home is worth in the current market. Consider what you can afford, and make an offer that you deem fair. When you make your offer to the agent, it’s best not to share any willingness you might have to raise your offer if the seller does not accept it. Your offer should have a time limit for the sellers to accept, reject it, or make a counteroffer. If a counteroffer is made, you'll have some time to respond. It is normal for several offers to go back and forth until an offer is accepted, or one party decides to end negotiations. Because an Offer to Purchase is a legally binding contract that you will sign and date, it may be a good idea to have a lawyer review it before you sign. When the offer is accepted, with the help of your agent, you’ll begin arranging for the inspections and applying for a mortgage. Earnest money When you sign an Offer to Purchase, your agent will ask you for “earnest money”—that is, money that shows you are serious about wanting to buy. Usually, you will be asked to write a check for 1% to 10% of the sale price. This money will be held in a special escrow account. If your offer is accepted, your earnest money will be included as part of your down payment. Keep in mind that if you back out, you may forfeit the full amount. Hiring an attorney Because the legal contracts and other paperwork involved in buying a home are complex, many people prefer to work with an attorney. Your attorney will review contracts, make you aware of special considerations and potential problems. He or she can also accompany you to the closing to help make everything go as smoothly as possible. If you don't know a real estate attorney, ask your agent for help. Agents work with many legal professionals, and can provide you with the names of several in the community. Doing the  Inspections Home inspections are an important part of transferring a house from a seller to a buyer, and in the interest of both parties. A home inspector will check the plumbing, heating and cooling, electrical systems, and look for structural problems, like a damp basement. Inspections reveal needs for repairs or replacements, so you can avoid surprises later. A home cannot "pass" or "fail" an inspection, and an inspector will not tell you whether he or she thinks the home is worth the money being offered. The inspector's job is strictly to make you aware of repairs that are recommended or necessary.

• Sellers often have a home inspection before a buyer enters the picture to prepare for any issues with the property’s condition that could delay closing or even cause the sale to fall through.
• Buyers have a home inspection to find out exactly what they are buying. Generally, you should call an inspector immediately after you've an accepted offer on a home. A seller may be willing to renegotiate a price to accommodate needed repairs, or you may decide that the home will take too much work and money. Before you sign any written offer, make sure (or have your attorney make sure) that it includes an inspection clause or other language that says your purchase obligation is contingent on the findings of a professional home inspector.

For buyers, inspections also provide valuable information about the home, such as where main utility shutoff valves are located and how the house operates. And while it’s not required, it is to your advantage to be at the home when the inspector is there. You'll be able to clearly understand the inspection report, and know exactly which areas need attention. Plus, you can get answers to many questions, tips for maintenance, and general information that will help you when you move into your new home. Most important, you'll see the home through the eyes of an objective third party.In choosing a home inspector, consider one that has been certified as a qualified and experienced member by a trade association. Your real estate agent may refer you to qualified inspectors in your area. In addition to the overall inspection, you may wish to have separate tests conducted to check for termites, or the presence of radon gas, or the swimming pool conditions, or the sewer functionality. Talk to your real estate agent for information about these tests, and companies in the area that provide them. Insurance At this point in the process, you will also want to get an insurance agent. Most insurance professionals have a lot of experience working with homeowners, and can offer useful tips about homeownership, particularly regarding home safety and keeping your premiums low. Work together to develop a homeowner's policy that meets your individual insurance needs. At the closing, you'll need to provide evidence of a fully paid policy for your mortgage lender. We have professionals who can help with this.

New Construction Home

Is a new construction home the best choice for you? There are key differences between new construction and existing homes, both in the buying process and the end result. Both new construction and existing homes have distinct advantages. How much the benefits of buying a new construction home factor into your decision depends on your priorities and preferences. These generally include:

• Lower maintenance costs
• Modern floor plans
• Increased energy efficiency
• Ability to customize features and finishes (appliances, flooring, etc.)
• Wiring that better accommodates new technologies

Home Buying Process In terms of the home buying process, many of the basics are the same; however, with new construction homes there are some additional considerations. We are here to help you navigate them. As with existing homes, the search begins with identifying the most desirable location. New developments are generally farther out from well-established commercial centers. Keep this in mind with regard to commuting, schools, and proximity to amenities. A Coldwell Banker Sales Associate can provide detailed information on locations, new developments and building sites. A new construction home can either be a production home or a custom home. Production homes are found within communities or subdivisions. All homes are built by the same builder, and offer a selection of floor plans to choose from. Custom homes are built to the buyer’s specifications from the ground up. Selecting a Builder The need to find the right builder is perhaps the single biggest difference between buying a new construction home vs. an existing home – and its importance cannot be overstated. Whether you want a production home or a custom home, your builder will play a crucial role in the largest investment you may ever make. Their skill, attention to detail and quality standards will impact your future comfort and happiness, as well as your home’s value and maintenance needs for years to come. Your Coldwell Banker Sales Associate can provide you with a list of builders who construct homes in your chosen area, along with information on the types of homes they build and general pricing. Use this to create a list of builders who match your desired type of home and budget. The next step is to interview the builders who fit your criteria. Here’s what to look for:

• Style: Each builder has a distinctive style. Make sure it fits with your individual tastes, and that the builder has experience with the style of home you want.
• Quality: When visiting model homes, examine the quality of the construction and materials, such as the cabinetry, carpeting, trim work and paint.
• Integrity: A reputable homebuilder will belong to a local homebuilders’ association. They’ll also provide you with references of past clients.
• Comfort Level: It’s important that you feel comfortable with the builder and feel free to ask questions throughout the construction process.

You may also want to visit the builder’s previous developments and speak to residents. The local building inspector can provide an informed opinion on construction quality. The Construction Contract Once you’ve decided on a location, a builder, and everything you want in your new home, the builder will provide a construction contract. Alternatively, you may draft one yourself, or hire an attorney. Coldwell Banker will review the contract with you to ensure your satisfaction, and if desired, help negotiate the terms. The purpose of the contract is to guarantee that you get the house as promised, and the contractor gets paid. It also serves to iron out any disagreements before the work begins, and provide guidelines for handling any disputes that may arise later. The complete contract terms will include the agreed-upon down payment. Most builders require 10% to 25% upfront. If the home is already built, the builder will likely accept 10%. If the builder is creating a custom home, expect to pay a 25% deposit. The total price tag will increase with the number of custom features and the time it takes to build the home. A custom home with an improved road to the home site, for example, can take anywhere from 120 days to 18 months to complete, depending on a variety of factors. The Pre-Closing Inspection Before closing on your newly constructed home, you and your builder will do a walk-through inspection. This gives you an opportunity to identify anything that may need to be adjusted. Most builders conduct a thorough inspection and have the home cleaned before the buyer sees it. However, there are over 30,000 parts in a new home, so the likelihood of imperfections is great. Look for scratches on countertops and flooring, and gouges in the walls. Moldings and trim should be square. Take photos, particularly if you discover a problem. The builder will want to make repairs before you move in. He or she will also go over how various features of your new home work. The pre-closing inspection is also when the builder explains your responsibilities for maintenance and upkeep, and provides information on warranty coverage and procedures. Understanding your maintenance and upkeep responsibilities is crucial. Most new homes come with a one-year warranty on workmanship and materials. However, problems that result from the buyer’s failure to perform required maintenance are not covered. Be sure to follow your builder’s guidelines. For more information on warranties, see Protecting Your Home. Depending on how you choose to finance your home, the process of closing on your new home is similar to that of existing home buying. Rest assured, Coldwell Banker will be with you every step of the way. After Closing If you find settlement cracks in the drywall or nail pops, even a year after you move in, don’t be alarmed. Such occurrences are not uncommon once a new home begins to settle. They are easily repaired, and the builder is responsible. If possible, call the builder before the one-year warranty terminates.

Maintaining Your Home