After weighing out the pros and cons of renting versus buying you have decided it’s time to buy.
The next 5 Steps will get you started on the path of success in purchasing your 1st home.
#1 – Find the Right Real Estate Agent
An agent is more than the person who finds you a home. They should be able to offer helpful insight into the buying process including financing information, programs, and resources and have local knowledge of the market and understand the ins and outs of buying process. They work for you, use them for their professional negotiating and investigative skills.
#2 – Get a Pre-approval
Make certain you get a pre-approval, you can’t make an offer on a home without one! There are a lot of choices when it comes to lending. Ask your Realtor if you are unsure about a lender and they can help point you in the right direction. Finding a lender that has the right program for your situation is the goal. Make sure your lender is one that you can visit if a problem arises, it’s much easier to talk face to face then waiting on hold for a customer service representative. Local lenders, making local decisions are great places to do business.
#3 – Prioritize Your Wants and Needs
Knowing what you really need is important. Making a list of “must have” or “would like to have” is key to staying within your budget.
Don’t forget to include:
• Commute to work
• School district
• # of Bedrooms
Compromise is part of this process, being able to identify those is part of making the right decision and key to your future happiness with your home.
#4 – Get a Home Inspection
It is recommended that all buyers get a home inspection! It is great way to find out if any major issues exist with the home before getting to the settlement table. This is a big purchase and you want to have all the knowledge possible about what you are buying.
#5 – Understand What Documents You Are Signing
Buying a home isn’t as easy as picking it out and being handed the keys. There are a lot of documents you will sign along the way. These documents contain contingencies and clauses that protect both you and the seller for the transaction. A realtor is there to help you understand what you are agreeing to and make sure your interests are covered.
Best of luck in finding your next place to call HOME!
Thinking about starting the journey? Give Team Longenecker a call today!