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Buying a home in Portland

Finding and buying a home is a big project. Once you receive those keys to your new home, you’ll be smiling. But in the meantime there’s so much to do and think about.

How much home can you afford? Check out the mortgage calculator to the right below. For the financial part you’ll need a great loan officer. I can suggest a few names for you.

For the process of home buying I have lots of information to share with you. I’ve gathered it in over 20 years of helping buyers achieve their home ownership goal. Below is a start on your home buying education. Be sure to also play around with the property search functions on the site. You’ll be able to see what’s for sale in different prices and neighborhoods.



10 Steps to

Prepare for

Home Ownership


  1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.
  2. Develop a wish list of what you’d like your home to have. Then prioritize the features on your list.
  3. Select three or four neighborhoods you’d like to live in. Consider items such as schools, recreational facilities, area expansion plans, and safety.
  4. Determine if you have enough saved to cover your down payment and closing costs. Closing costs, including taxes, attorney’s fee, and transfer fees average between 2 percent and 7 percent of the home price.
  5. Get your credit in order. Obtain a copy of your credit report.
  6. Determine how large a mortgage you can qualify for. Also explore different loans options and decide what’s best for you.
  7. Organize all the documentation a lender will need to pre-approve you for a loan.
  8. Do research to determine if you qualify for any special mortgage or down payment-assistance programs.
  9. Calculate the costs of home ownership, including property taxes, insurance, maintenance, and association fees, if applicable.
  10. Find an experienced REALTORtm who can help you through the process.



Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®

Copyright 2005. All rights reserved.                        www.REALTOR.org/realtormag


Tips for Finding the Perfect Neighborhood

The neighborhood you choose can have a big impact on your lifestyle—safety, available amenities, and convenience all play their part.

  1. Make a list of the activities—movies, health club, church—you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engaging in your most common activities.
  2. Check out the school district. The Department of Education in your town can probably provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. If you have school-age children, also consider paying a visit to schools in the neighborhoods you’re considering. Even if you don’t have children, a house in a good school district will be easier to sell in the future.
  3. Find out if the neighborhood is safe. Ask the police department for neighborhood crime statistics. Consider not only the number of crimes but also the type—burglaries, armed robberies—and the trend of increasing or decreasing crime. Also, is crime centered in only one part of the neighborhood, such as near a retail area?
  4. Determine if the neighborhood is economically stable. Check with your local city economic development office to see if income and property values in the neighborhood are stable or rising. What is the percentage of homes to apartments? Apartments don’t necessarily diminish value, but they do mean a more transient population. Do you see vacant businesses or homes that have been for sale for months?
  5. See for yourself. Once you’ve narrowed your focus to two or three neighborhoods, go there, and walk around. Are homes tidy and well maintained? Are streets quiet? Pick a warm day if you can and chat with people working or playing outside. Are they friendly? Are their children to play with your family?

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®

Copyright 2005. All rights reserved.                        www.REALTOR.org/realtormag