Buying a home should be one of the most exciting times in your life. It is a time in your life where you feel a sense of accomplishment and joy. Some of you may already know what to expect in a home buying process but if you're a first-time home buyer and don't know what to expect, things can start to get ugly very quickly...if you're not prepared. Being prepared is essential and super important when it comes to buying a house. Okay, so where do I start?
1. Well start by taking a look at your financial situation. Maybe instead of eating out pack yourself lunch or instead of paying for cable look into Netflix. Little things like that can get you on the right track to saving money for the expenses related to purchasing a house. Some of you may even qualify for down payment assistance!
2. It's simple: The better your credit history, the higher your score—and the better your opportunities for a home loan . Pay off your debt and pay it on time. If you're borrowing money to buy a home, lenders want to know you'll pay them back in a timely manner, and a credit score is an easy estimate of those odds.
3.Getting a ballpark estimate of how much home you can afford boils down to how much money you're pulling in.
4. An easy way to know how much house you can afford is by getting pre-approved. The mortgage lender will take a look at your financial past and present circumstances to determine how much money they're willing to loan you to buy a home. You'll also look really good in front of a seller if you have a pre-approval letter because it shows that you have financing to backup your offer.
5. Start making a checklist of what you would like your home to look like.
6. Finding the right realtor is possible. You need to work with a realtor who will back you up and watch out for you. Yes, there are real estate agents who are out there ready to make a quick buck and could really care less about you but there are good real estate agents who can make a world of difference. Don't be afraid to ask questions.
7. After you find your realtor it's time to start looking at homes! Picking the right house for you can be your favorite part but the options can be overwhelming. This is where you need to have a Realtor that listens to what YOU want. Only you will know which house is the best one for you but your realtor will have a better handle on the market. Make a "must-have list" and don't beat yourself up if you find a home that doesn't have every single one of those items checked off. Tune into how you feel about that particular home and imagine yourself living in it. Be patient and have fun with it!
8. Don't forget your must-have list, but don't feel bad about skipping something you thought you wanted. A wonderful house without a his-and-her bathroom is still a wonderful house—you just might have to shuffle your expectations. Keep in mind that there probably is no such thing as the perfect house but at the end of the day, you'll find a home that includes the things that were most important to you.
9. Learn how to make an offer. Pick the right price and work with your realtor to determine a fair asking price. Don't lowball unless both you and your Realtor agree that it's the best strategy for the occasion. If there are multiple offers you can consider writing a letter to the seller. The seller chooses the offer they like best.Along with the price, you'll also want to factor contingencies into your contract: For example, do you need to sell your own home first, requiring a selling contingency? Work with your Realtor to decide what you'll ask for off the bat—and consider dropping some requests if the market is hot.
10. MOLD, FOUNDATION ISSUES?! oh my! No one wants to hear that in their inspection report. It's so important to hire a top-notch inspector. It's best to know exactly what is going on and fixing those issues before you purchase your home instead of being surprised after you have moved in. You should also attend the home inspection even though you will get a detailed report because it provides a valuable opportunity to know the inner works of your new-to-be home.
11. You're so close to moving in! Make a checklist covering all of your concerns about the house-the items you would like to see addressed and fixed.Other things to add to your inspection list include ensuring that all appliances work—make sure to turn them on while you're in the house—as well as the bathroom plumbing. Check the windows, doors, and all outlets and lights. If anything is amiss, bring it up with the sellers as soon as possible and negotiate a fee the sellers can give you by personal check to cover the costs of fixing it yourself. It's your last chance. Make it count.
12. Congratulations! You made it! You have closed and you have the keys to your new home. Here's to a fresh new chapter in your life and hopefully a home with wonderful memories.
Author:Metzly Rosa Phone: 407-775-1642 Dated: June 25th 2018 Views: 346 About Metzly: Itzel Rosa is a young, motivated, and professional realtor who guarantees her clients a unique exper...
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