Buying a home is a life-changing event, whether it is your first home or your fifth. Here are some guidelines to make finding your dream home an enjoyable process.
Choose the right real estate agent for you.
Everyone has their own way of approaching major decisions and buying a home is a huge investment of time, emotion and money. There’s nothing wrong with interviewing two or three agents to find the realtor you are most comfortable talking to and instinctively trust to protect your interests.
Get pre-approved for your loan
As a good starting point, work with a qualified lender and get pre-approved. You want to build rapport with your lender and it is important to know not only how much home you qualify for, but also how much you can reasonably afford.
Protect your credit rating
Once your loan is pre-approved, resist the temptation to run out and buy new furniture for your dream home. Your credit will be re-verified right before you close on a new home and a series of large purchases could tip the scales against you.
Know what kind of home is a fit
Research several neighborhoods for good schools, proximity to your employer and for potential resale value. Think about how you live, what is the lifestyle you have now. Why are you moving? What is missing from your current home or living space that you want to acquire in this move?
Know your timeline
Once an offer is accepted, closing on a house ideally takes 45 days. And in a today’s tight market, it could take longer due to backlogged appraisal and property inspections. During the inspections period if the house ends up needing major repairs, this could delay your closing and might end up being a deal breaker. Are you prepared to rent an apartment on a short-term lease while selling your current home? How will you handle a delayed closing if you already gave notice at your apartment? How much notice does your landlord require if you will need to break your lease? All these situations factor into the financial aspect of your home purchase.
Look at as many homes as you need to before you buy. Even in a tight market, you shouldn’t jump on the first or even third home you find. And when you do find what you’re looking for, be sure to have the home inspected and request a home warranty.
When clients work in partnership with me, they benefit from my years of experience in custom home construction, land development and real estate. I will answer all of your questions, address issues before they become problems, and guide you through the negotiation and closing processes. Most importantly, I help you select a home that is structurally sound, a good resale investment and a perfect fit for your family’s lifestyle.