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Scott Schultz's Blog

By Scott Schultz | Agent in Apple Valley, MN
  • Cottage Grove First Time Home Buyers

    Posted Under: Market Conditions in Cottage Grove, Home Buying in Cottage Grove, Financing in Cottage Grove  |  June 14, 2011 9:26 AM  |  540 views  |  No comments

    Are you planning to buy your first home in Cottage Grove, MN? There are a few things that I would like to share with you about Cottage Grove real estate to help ensure you avoid some of the bigger mistakes that many first time buyers make. With some basic preparation you can avoid some painful pitfalls.

    Info about Cottage Grove

    Located just 8 miles south of Saint Paul, the city of Cottage Grove is often considered one of the Twin Cities bedroom communities. With a population over 34,000 Cottage Grove offers a wide array of affordable suburban housing. Cottage Grove high school students attend one of the four high schools, Woodbury High, East Ridge High School, Alternative Learning Center, or Park High School. If you have students in middle school they would attend either Cottage Grove Middle School, Lake Middle School, Oltman MS, or Woodbury Middle School. There is always something to do in Cottage Grove with an well-planned Park and Rec department. If you are searching for Cottage Grove please give me a call to get out looking.

    1) Get preapproved for mortgage financing first! I meet far too many first time home buyers who find their home before they get prequalified for a home loan. It can be an extraordinarily painful experience to go through the work of finding the ideal home only to find out you are not yet ready to qualify for a home loan. You can get prequalfied with my preferred MN mortgage lender even during the evenings or on weekends, and generally right over the phone. There is no cost for the service and absolutley no obligation so why not start the process of preapproval immediately?

    2) Get educated about the whole process of buying a home as soon as you can. You can learn a great deal at a first time home buyer seminar or at a Home Stretch Worshop available through many communities around the Twin Cities. There is so much to know about the home buying process that it is well worth it to learn as much about it as you can…and as early as you can.

    3) Get a home inspection on the house you are planning to buy. While a home inspection is not required it can sometimes reveal major potential problems in the home before you are fully committed to the purchase. I will help you negotiate a transaction with a contingency upon a professional home inspection that is satisfactory to you so that if it comes back bad, you can back out of the transaction. Some first time home buyers will skip the home inspection because of the cost involved. This cost is cheap when compared to making a purchase of a home that later reveals multiple problems.

    4) Take care of your credit after preapproval. After you have received your preapproval for mortgage financing your Minnesota mortgage company still might need to check your credit again. Make your payments on time and do not open up any new credit. You should avoid additional credit inquiries after your preapproval application to avoid potential problems with your credit score.

    5) Be choosey when shopping for homeowners insurance. If you were to call 3 different homeowner's insurance companies you will get 3 quotes that could vary by as much as double! Immediately after your loan application you should start your search for insurance and get a few different quotes.

    The First Step: Get Preapproved!

    For many MN first time home buyers the big, intimidating question is where do I start the process? Your first step to home ownership is to get preapproved for a first time buyer's mortgage. By doing so you find out how much of a loan you are qualified for so that we can research homes in a comfortable price range.

    Scott Schultz
    Sales Executive, Licensed Realtor in Minnesota
    Remax Results
    scott.schultz@results.net 
    Cell 952-221-7419
    Direct 952-431-2400
    Fax 952-431-0420
    14451 Founders Lane
    Apple Valley, MN 55124
    With a focus on Apple Valley real estate and surrounding communities.

 
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