8 Steps To Buying a Home
1. Decide to Buy:
- Whether you are a first time home buyer, or buying any home is one of the biggest decisions you can ever make. A home is the largest and most emotional "investment" you can make. Your decision to build wealth with real estate has many advantages, including building equity, value appreciation, tax benefits, and the sense of pride.
- There is never a wrong time to buy the right home. The key is to have a good grasp on your finances.
- Take the time to find the right property.
2. Hire Your Agent:
- When you decide to find the right agent, it's important to note that not all agents are the same.
- A great agent always puts their clients first.
- A great real estate agent will:
- Educate their client about the current market conditions.
- Examine what your needs are.
- Coordinate the work of needed professionals through the entire purchase.
- Show you properties that fit your criteria.
- Negotiates on your behalf tomato sure you are getting the best deal.
- Checks and double checks all paperwork and deadlines
- Can solve any problems or concerns you may have
3. Secure Financing:
- Finding the right lender can be overwhelming. Your agent should have a list of preferred vendors. This is very helpful in eliminating stress and finding the right lender for you.
- Important steps you can take are: Review your current financials, Discuss options that are available to you, guide you loan appropriate price point, negotiate on your behalf, and keep you informed throughout the entire process.
4. Find your home:
Home buying can be fun and exciting. How you go about it will determine your success. There are a lot of homes out there, but if you just get in the car and drive around, it can then be daunting and frustrating. Having the right agent will help you more accurately pinpoint homes that fit your criteria, saving you time and money. Here are some questions you will want to ask yourself.
- What location (s) are you looking at?
- Can you afford that location?
- What amenities are crucial for you and your family? Fireplace? Garage? Pool?
- How much space do you need?
- One floor or two?
- Are there school districts you want to focus on?
- What's the neighborhood like?
- Do you want move-in-ready or a fixer upper?
- How long do you plan to stay there?
- Do you want an income property?
- Are you interested in a lot of land or would you prefer to be in a Development?
5. Make an offer:
- Making an offer can be intimidating and scary. How much should I offer?
- Your realtor will guide you through this by a doing a market analysis.
- Improvements- your agent can give you a list of improvements made to the home and help you determine its market value.
6. Perform Due Diligence:
- Your agent will provide you with improvements and challenges within the home.
- Don't sweat the small stuff.
- Structure damage is not to be ignored. It can come from water, shifting ground or just poor construction.
7. Close:
- The final stage of purchasing a home can be very exciting, but you will want to make sure you don't jeopardize you have a few responsibilities that you'll need to remember.
- Stay in Control of your finances.
- Do not make any large purchases
- Keep in touch with your agent regularly
- Talk to a financial consultant
- Be sure to return all phone calls and complete all paperwork in a timely manner
- ASK QUESTIONS!
8. Protect Your Investment:
Congratulations, you are now a homeowner! Now that your home buying process is complete, that doesn't have to mean your relationship has to end with your agent. Home buying and selling is a process, where you have spent a lot of time together and built trust with your realtor. .
Just because the sale is complete, doesn't mean the relationship has to. I like to believe I can still help you. Whether you have questions about your new home, or need help in finding a reputable contractor, tracking your homes value, or helping your family members, friends, or co-workers buy or sell a home .
