So you have decided it’s time you invested in your very own home sweet home. Congratulations! What next?
Lender’s Office or Real Estate Office?
The home buying process doesn’t really start until you have the financial aspect of the process dealt with. The first step in your home buying process will be dictated by whether you have the necessary money available or will need a mortgage.
For those who will require a mortgage, the standard procedure is to apply for a home loan pre-approval. When you bid for a home, the agent or seller will check your pre-approval letter to decide if you will, eventually, be able to pay the money or not. Therefore, a pre-approval is essential when setting out to bid on homes to buy. Remember, you need a pre-approval not just a pre-qualification in order to satisfy home sellers.
Decide Your Budget
Your home loan pre-approval should give you a good idea of how much you can spend on buying your new home. If you want to purchase a higher price home you may choose to put more money towards the down payment.
Choosing an Agent
This is an important part of your home buying process and will require a substantial amount of research and effort. Your real estate agent is the person responsible for making almost every step of your home buying a success. The best thing to do is to look for agents specializing in your chosen locality and those who have a good proven track record.
You can ask friends or family who have recently bought a home for recommendations or search online and read reviews of their services. We should warn you however, that Yelp reviews are far from accurate or trustworthy therefore some due diligence is needed before you take those reviews as the last word. Yelp charges business owners to use their service.
Choose Your Location
Once you have an agent to represent you, they will be able to give you a good idea of which locations would fit into your budget. Once you have a list of these locations, choose which of them you would prefer and which you don’t even want to consider. Make sure you let your agent know about these choices so they don’t end up calling you to come take a look at a house located somewhere you don’t want to live.
Make a List
Once the location is decided, the next step is to decide what kind of a home would be suitable for you. Do you absolutely need to have closets in every room? Must it have a sun room? A patio? Maybe you don’t want a home with an attic, or perhaps a home with a basement is not an absolute requirement and you can make do without one. Make sure you list all of these things and let your agent know about them. This can save a lot of time for both you and your agent.
Check your Potential New Home
Once you find a home you like, make sure you check each and everything with your agent. Heating, water, electrical systems etc must all be checked in addition to the structure and foundations. Getting a home inspection done is possibly the best way of making sure everything is as you want it.
Once you have satisfied yourself about all the important aspects, your agent will then help you place a price and close the deal.
We wish you the best of luck in searching for your new home. We are here to help in your dream of home ownership. Please contact us today at 617-734-8200 or email@example.com and visit our website at www.firstchoicerealty.com
First Choice Realty, Inc.